Romney Rates a Mulligan on Latest Tax Gaffe, As Pressure Builds on the Debate
This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.
For some unknown reason, Mitt Romney dialed back his tax-cut plan yesterday, the same day new reports showed incomes are dropping.
Last month, median household income fell by about $500, and since Barack Obama became president, income is down over $4,500. But under Mitt Romney’s 20% tax-cut plan, if he truly believes it and follows through with it, a married couple making $70,000 a year would save over $2,000. And take-home pay for a middle-class married couple earning about $140,000 — with their tax rate dropping to 20% from 25% — would increase by over $7,100. Mr. Obama has no such middle-class tax cuts.
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