Posts Tagged ‘employer

31
Aug
11

the ‘moderate’ republican?

ThinkProgress: …. Jon Huntsman is releasing an economic plan today that is as bad for the middle-class – and as nutty – as any proposed by his rivals. It would pay for a half-million-dollar tax break for the richest 0.1 percent of Americans with tax increases on the middle-class and new taxes on seniors, veterans, and poor families.

…. Huntsman would drop the marginal rate paid by the richest Americans by more than a third to 23 percent …. He would also eliminate all taxes on all capital gains and dividend income – the primary forms of income for the wealthiest Americans…..

– All Social Security benefits would become taxable. Senior citizens who currently receive the average Social Security benefit as their primary income source (as is the case for most seniors) currently pay no income taxes on those benefits, but would under Huntsman’s plan.

– Many middle-class parents would lose child tax credits and tax benefits for education and child care that are more valuable to them than a tax rate cut.

– Huntsman’s tax plan would also eliminate the employer health insurance exclusion, which helps enable some 160 million Americans get coverage through their jobs.

– One of the most successful pro-work, anti-poverty initiatives, the Earned Income Tax Credit, would be abolished.

– Veterans pensions and disability benefits would become subject to tax, as would all military combat pay, military housing allowances and meals, workers compensation payments, public assistance benefits, and state foster care payments…..

More here

Thank you Hopefruit




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