This was Mitt Romney’s prescription to help middle class taxpayers, as heard on CBS’ 60 Minutes interview on Sunday.
Seriously, I do taxes and when I heard this, I was floored. WHO does he think “middle class” families are? Well, he DID say $200,000 to $250,000 a year. Idiocy.
Because we’re also going to limit deductions and exemptions, particularly for people at the high end. Because I want to keep the current progressivity in the code. There should be no tax reduction for high income people. What I would like to do is to get a tax reduction for middle income families by eliminating the tax for middle income families on interest, dividends, and capital gains.
There’s just something truly bizarre about the thought process of a rich guy who thinks that “middle class” families can get out of their dire straits with tax breaks for interest, dividends and capital gains. It’s the modern equivalent of
“Your Majesty, the people have no bread!”
“Well, let them eat cake, then!” *
French Queen Marie Antoinette loses her head
over food relief policy on 16 October 1793