Romney at the Retail Level
Winning votes one at a time.
Feb 6, 2012, Vol. 17, No. 20 • By JOHN MCCORMACK
In Miami, Romney matter-of-factly defended his tax rate. “One of the reasons we have a lower tax rate on capital gains is because capital gains are also being taxed at the corporate level. So as businesses earn profits—that’s taxed at 35 percent. Then as they distribute those profits in dividends, that’s taxed at 15 percent more. So all total the tax rate is really closer to 45 or 50 percent,” he said. And then he pivoted to his tax plan to help the 99 percent. “I have a proposal for those in middle income. Anyone earning under $200,000 a year, I would propose pay no tax whatsoever on their savings. I think the people who have been most hurt in the Obama economy should be able to save money tax-free.” Of course, for most middle-income Americans their savings—that is, their retirement plans—are already untaxed.
It’s not just Romney’s record in Massachusetts or his personality that is leaving many voters lukewarm. Some of his policies seem timid. Enough Republican voters may find Romney to be the best of the lot, but the lack of enthusiasm among his supporters could complicate his plans to lock up the nomination and take the White House.
John McCormack is a staff writer at The Weekly Standard.
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