In it, but not of it. TPM DC

New Romney Plan Lowers Taxes Further On Rich, Raises On Poor (CHART)


Compared to the original proposal, the new one -- or at least the pieces of it Romney's specified -- would actually lower taxes further on the wealthy, while slightly raising them on the poor. If Romney does ultimately specify which popular tax benefits he plans to eliminate, it'll have to be a long list. According to TPC, "in the absence of such base broadening...the Romney plan would lower federal tax liability by about $900 billion in calendar year 2015 compared with current law, roughly a 24 percent cut in total projected revenue. Relative to a current policy baseline, the reduction in liability would be about $480 billion in calendar year 2015."

Here it is in chart form: