"You’re Admitted to Romney University"
An Advanced Seminar on Mitt Romney’s Policy Positions
Don’t worry, Mitt Romney himself doesn’t run this school, so there won’t be any hazing. Romney University, a new project of the Center for American Progress Action Fund, is your one-stop shop for everything you’ve ever wanted to know about Mitt Romney’s policy positions.
We offer classes on Romneynomics, Romneycare, national security, LGBT issues, women’s health and economic wellness, and issues of concern to young people and Latinos. You can check out all of the offerings HERE. And we’ll be adding even more in the weeks ahead.
The report on Romney’s economic plan — the Bush strategy of enriching the wealthy at the expense of everyone else, only much worse — is required reading. You should definitely study up, but here’s a cheat sheet in the meantime.
Q: Who would benefit from Mitt Romney’s tax plan?
A: Only Mitt Romney and the very wealthiest Americans, along with huge corporations:
- Mitt Romney would give himself a $4.5 MILLION tax cut in just one year compared to the president’s plan and he’d save up to $12 MILLION in taxes on his mysterious $100 MILLION IRA and another $112 MILLION in estate taxes (p. 12).
- Millionaires would receive a $250,000 tax cut on top of the Bush tax cuts. The top 0.1 percent would receive an additional average tax cut of $725,000 (p.10).
- Corporations would receive a $1.1 TRILLION tax cut over the next ten years and would receive new incentives to ship American jobs overseas (pp. 10, 16).
Q: Who would pay the price for Mitt Romney’s enormous new tax cuts for the wealthy?
A: Everyone but the wealthiest Americans:
- Mitt Romney would raise taxes on 18 MILLION working and middle class families. Millions more middle class families could be hit with massive tax increase by Romney’s heretofore unspecified plans to “broaden the base” (p. 14).
- Because of the hidden middle-class tax increase in his plan, everyone from a single parent working a minimum wage job to a family with two kids (one in college) making $150,000 a year would see a tax increase under Mitt Romney (p. 15).
Q: Would Mitt Romney’s plan create jobs?
A: No. His plan doubles down on the Bush economics that created the worst job growth in decades:
- A conservative tally of his specific policy proposals shows Mitt Romney’s plan would cost the economy 360,000 jobs in 2013 alone (p. 39).
Q: Will Mitt Romney save Social Security and Medicare?
A: No. He wants to turn Medicare into a voucher program and his plan would require major cuts to Social Security and Medicare (p. 24).
Q: Would Mitt Romney’s spending plan reduce the deficit and debt?
A: No. His plan would explode the deficit and debt:
- Mitt Romney’s policies would result in nearly $10 TRILLION more debt than President Obama’s proposals (p.28).
- In 2016 alone, Mitt Romney’s policies would lead to a $1.5 TRILLION deficit.
- The specific fiscal policies in Romney’s plan would lead to a debt-to-GDP ratio of over 100 percent by 2020 (p. 28).
- Even if Romney also implements the spending cuts in the Ryan-Republican budget he has eagerly backed, his tax cuts would lead to a a debt-to-GDP ratio of 95 percent by 2020 (p. 28).
Check out all of the course offerings. There will be a test.
Evening Brief: Important Stories That You May Have Missed
Romney’s spokesman to reporters trying to ask Romney questions: “Kiss my ass!”
A GOP House member defended dog fighting.
It’s official: Mitt Romney’s foreign trip was an utter disaster.
A Republican former Treasury Department official says Romney is “an Olympic-level athlete at the tax avoidance game.”
Republicans might not shut down the government over Planned Parenthood and clean air rules after all.
Romney’s opposition to incentives for wind energy could cost him Iowa.
POLL: Most Americans favor expanding Medicaid, as Obamacare calls for.
Former Ohio Governor: GOP’s tax cut ideology is “divorced from reality.”
Sen. Harry Reid (D-NV): Bain Investor Told Me That Mitt Romney ‘Didn’t Pay Any Taxes For 10 Years.’