Romney Campaign Press Release - We Cannot Afford the Democrat Tax Bill

The Romney Vision Vs. The "Mother Of All Tax Bills"

"Today, Democrats in Washington, D.C., are unveiling a massive tax increase bill for the American people. Our nation cannot afford the Democrats and a Democrat President like Hillary Clinton who will sign tax increases into law. Instead of following Democrats, we need to lower taxes, cut spending, and grow the economy. The American people should be able to work, save, and invest in the future without government taking more of their hard-earned money." - Governor Romney

THE ROMNEY VISION: LOWER TAXES FOR ALL AMERICANS

As President, Mitt Romney Would Push For Lower Taxes For All Americans:

Gov. Romney Would Make The Bush Tax Cuts Permanent. GOV. ROMNEY: "Let me tell you what I'd do, as opposed to what Hillary Clinton would do with regard to our tax and spending policies. First of all, I would make the Bush tax cuts permanent immediately – all of them, not some of them, but all of them." (Gov. Mitt Romney, Remarks To The Club For Growth, 10/17/07)

Gov. Romney Would Fight For Lower Marginal Tax Rates. GOV. ROMNEY: "I'd like to see marginal rates cut across the board. I'll tell you, if marginal rate cuts were good enough for Ronald Reagan and Art Laffer and Milton Friedman, they're good enough for me. I want to see our marginal rates brought down in this country." (Gov. Mitt Romney, Remarks To The Club For Growth, 10/17/07)

Gov. Romney Would "Kill The Death Tax Once And For All." GOV. ROMNEY: "I also don't believe it's fair for Americans to get taxed when they earn their money, taxed when they save their money and taxed when they die. So of course, I want to kill the death tax once and for all." (Gov. Mitt Romney, Remarks To The Club For Growth, 10/17/07)

Gov. Romney Would Eliminate Taxes On Savings And Investments For Families Making $200,000 Per Year Or Less. GOV. ROMNEY: "I also want to put in place a special middle-class savings plan, which has a lot of associated benefits. I want middle-class Americans, and this is 95 percent of Americans who are earning $200,000 a year or less, I want these individuals to be investing in the future, to be saving, to be preparing for their own retirement, their down payment on their home, the education for their kids instead of looking to government for all these things. And to do that, I would propose that middle-income Americans – $200,000 a year or less in income – have a new tax rate on interest, dividends and capital gains, and that tax rate is absolutely zero. And I believe with that kind of change in our tax policy you'll see more savings and more investment in America." (Gov. Mitt Romney, Remarks To The Club For Growth, 10/17/07)

Gov. Romney Would Cut Corporate Tax Rates. GOV. ROMNEY: "The wrong course for America is to do what Hillary Clinton suggested which is to raise taxes on corporations. The right course is to lower taxes on corporations, which is something I'd also like to do, to make sure that we're competitive, at least, with the other nations in the industrial world." (Gov. Mitt Romney, Remarks To The Club For Growth, 10/17/07)

THE DEMOCRATS: RAISE TAXES WITH THE "MOTHER OF ALL TAX BILLS"

Rep. Charlie Rangel (D-NY) Is Proposing The "Mother Of All Tax Bills":

"The Word Is That Chairman Of The Ways And Means Committee Charlie Rangel (D-NY) Will Introduce [What] He Is Calling The 'Mother Of All Tax Bills'..." (John Campbell, "Mother Of All Tax Bills?" Townhall, http://www.townhall.com/, Posted 10/24/07)

The Democrat Tax Plan Would Raise Taxes On Those Making Over $150,000. "Upper-income families, however, would pay for [AMT] repeal with a 4% surtax on incomes above $150,000 for a single earner or incomes above $200,000 for a married couple. That surtax would grow to 4.6% for incomes above $500,000." (John Godfrey, "Rangel Tax Plan's Centerpiece Is 30.5% Top Corporate Rate," Dow Jones, 10/25/07)

"At Least 1.7 Million Americans Would Face A Tax Hike Under A Broad Overhaul That Rep. Charles Rangel Of Harlem Is Planning To Unveil This Morning..." (Russell Berman, "Taxes Would Rise For 1.7 Million Under Rangel Plan Due Today," New York Sun, 10/25/07)

Republicans Warn The Democrat Plan Effectively Rolls Back The Bush Tax Cuts. "After a closed-door committee meeting Wednesday, ranking Republican Jim McCrery of Louisiana said the bill would include a surtax on the adjusted gross income of couples earning over $200,000 and individuals earning over $150,000. The surtax, McCrery said, would range from 4 percent to 4.6 percent. That would make the top rate 39.6 percent, the same as before the Bush tax cuts." (Richard Rubin, "Treasury's Paulson Finds Democrats Unreceptive To His Corporate Tax Agenda," CQ Today, 10/3/07)