Willard’s plan was analyzed by the Tax Policy Center at the Brookings Institution. If Romney were able to actually implement his plan to reduce tax rates by 20 percent while eliminating tax deductions, taxpayers with more than $200,000 in income would certainly see a tax cut. But everyone else — 95 percent of Americans — will get a tax hike. In particular, families with children would see their taxes go up by $2,041, on average.
What Romney calls an “across the board tax cut” is just that, except that “cut” means “increase” unless you’re a member of the elite. Remember, it’s only class warfare if we fight back!
TPC report: On The Distributional Effects of Base-Broadening Income Tax Reform (PDF)
Romney Tax Promises Mathematically Impossible
Surprise! Romney Tax Plan Favors the Rich
UPDATE: Romney’s Reverse Robin Hood Problem. How is the Romney campaign going to run away from this?