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Mitt Romney on Taxes and Budget
This candidate has withdrawn from the election
Pledges no new taxes in 2007 after refusing pledge in 2002. (May 2007) (Ontheissues)
2007 Republican Debate in South Carolina May 15, 2007
"NORTH CONWAY, N.H., Sept. 9 (UPI) -- Former Massachusetts Gov. Mitt Romney has promised a series of tax breaks aimed at those making less than $200,000 if he becomes president. Speaking Friday in New Hampshire, Romney said he would eliminate taxes on interest, dividends and capital gains for the middle class, The Boston Globe reported. "You can save your money for a down payment on a house, for a car, for a boat, for college for your kids, whatever the heck you want," he told a group in a coffee shop in North Conway. "Government shouldn't be telling you they're going to tax you on your savings." Critics say the bulk of the savings would go to taxpayers at the upper end of the income spectrum, who make more than four times the average. Robert S. McIntyre, director of Citizens for Tax Justice, said the plan would do little for those making less than $100,000, while those in the $100,000 to $200,000 range would save at most a few hundred dollars a year."
"I believe in cutting spending and cutting taxes."
Called the Forbes Flat Tax a "tax cut for fat cats" in 1996
"GLENN: So you didn't really answer question. Why don't we have a candidate calling for a flat tax? GOVERNOR ROMNEY: Well, you know, it's -- it has a lot of features that are attractive but the flat tax as it was originally proposed by Steve Forbes had some things I think that would not work and one that I pointed out, of course, is that you eliminate the home mortgage deduction and that would have an impact on the housing market. Another is that the very, very wealthy would pay no taxes at all, none, under a flat tax. And so I think as people hear the term "Flat tax," they like the idea but then if they hear that some people will pay no taxes at all, the very wealthiest, they've say, ooh, there's got to be something to adjust it. GLENN: Hey, hey, wait. You're talking about the very wealthy. You were talking quite honestly about people like Hillary Clinton that have millions and millions and millions that are working for them and they are not -- they are not paying in income tax. You're saying that they wouldn't pay anything on capital gains. GOVERNOR ROMNEY: Yeah, that's right, under the Forbes flat tax plan, someone like Bill Gates who probably gets in a billion dollars of income a year from interest and dividends and capital gains, he probably pays $200 million in taxes a year. He would pay no taxes under the flat tax, and I don't think that's what people think about when they think about flat tax. So there's some --"
Supported balanced budget amendment and line-item veto
Boston Globe review of 1994 canpaign issues Mar 21, 2002
Romney -- who was the first to sign the pledge but has since been followed by second-tier GOP contenders Sam Brownback and Mike Huckabee -- also reminds primary voters of his promises to eliminate the estate tax and roll back income tax rates.
Republican presidential candidate Mitt Romney said in Iowa Thursday that eliminating the federal estate tax would help more Iowa families as corn-producing land's value increases with the demand for ethanol. 'Family farms, in particular if they are raising corn, are going to see the value of their land skyrocket,' Romney told reporters after speaking to about 350 Republican activists in Bettendorf.
From Mitt Romney Press Release: Governor Romney Will Make The Bush Tax Cuts Permanent. Governor Romney believes making the Bush Tax Cuts permanent is the first step to ensuring that Americans are able to keep more of their hard-earned money. By Making The Bush Tax Relief Permanent, Governor Romney Will Preserve Tax Relief For Millions Of Americans: - 34,080,000 Couples Saw A Reduction In The Marriage Penalty In 2006.
States News Service October 4, 2007
"I want to stop the inflation creep of the Alternative Minimum Tax."
"GOVERNOR ROMNEY: Yeah. And that's one of the things that I'll be talking about is my own tax policy. One of the elements that I've already put forward is that I would like to reduce taxes across the board. I'd also like to go after savings for people of middle incomes, and my view is middle income Americans ought to be able to save their money and get their interest dividends and capital gains tax-free. I don't think we should tax people when they earn their money and then when they save it and then when they die. So I want to take that tax off on capital gains, interest and dividends for middle income Americans."