American Bridge

I Left My Heart In Grand Cayman

During last night’s debate, Romney proclaimed: “The place you put your money makes a pretty clear indication of where your heart is.” That’s especially revealing given Romney’s love for stashing his cash in the Cayman Islands, Bermuda, Switzerland and China.

Here’s our debate response video showing voters that while Mitt Romney may have been in Denver, his heart was in good ol’ Grand Cayman. Watch to the end for an amazing Big Bird cameo!

VIDEO: While Romney was in Denver, his heart was in Grand Cayman

During the debate, Romney proclaimed: “The place you put your money makes a pretty clear indication of where your heart is.” That’s especially revealing given Romney’s love for stashing his cash in the Cayman Islands, Bermuda, Switzerland and China.

Here’s our debate response video showing voters that while Mitt Romney may have been in Denver, his heart was in good ol’ Grand Cayman. (watch to the end for an amazing Big Bird cameo!)

BRIDGE BRIEFING: Romney’s Tax And Fee Increases

The Tax Burden In Massachusetts Increased

During Romney’s Tenure The Massachusetts Tax Burden Increased From 10 Percent To 10.6 Percent Of Per Capita Income. According to the Boston Globe, “Data compiled by The Tax Foundation, a nonpartisan research group in Washington, shows that during Romney’s four years as governor, the state and local tax burden in Massachusetts increased from 10 percent to 10.6 percent of per capita income.” [Boston Globe, 6/29/07]

Factcheck.org: The Massachusetts Tax Burden Increased Under Romney. According to Factcheck.org, “In Massachusetts, the tax burden figure went up under Romney, from 5.93 percent to 6.57 percent.” [Factcheck.org, 10/12/07]

State & Local Tax Burden Increased 6.5 Percent During The Romney Administration. According to The Tax Foundation, a conservative tax research organization, in 2002 (the year before Romney came to power), the state and local tax burden in Massachusetts was 9.3 percent. In 2006, Romney’s last year in office, the state and local tax burden of Massachusetts had increased to 9.9 percent. Thus, under Romney, Bay Staters saw their taxes burden increase by 6.5 percent in real terms. [The Tax Foundation, 2/23/11]

BRIDGE BRIEFING: Romney’s Tax Plan

Romney’s Tax Plan Would Raise taxes on middle class families by $2000 while cutting taxes on multi-millionaires by $250,000.

Tax Policy Center: Romney Tax Plan Would Raise Taxes On Families With Children With Income Below $200,000 By $2,041. According to a Tax Policy Center analysis of Romney’s tax plan and promises, families with children that earn below $200,000 a year would see tax increases of $2,041. [Tax Policy Center, 8/1/12]

Tax Policy Center: Top 0.1% Would See $246,652 Tax Cut Per Year Under Romney Plan. According to a Tax Policy Center analysis of Romney’s tax plan and promises, the top 0.1% would receive a tax cut of $246,652 per year. [Tax Policy Center, 8/1/12]

The Romney Plan Raises Taxes Of The Middle Class And Poor To Pay For Tax Breaks For The Super-Wealthy

A Brookings Study By Economists With Experience In Both Republican And Democratic Admirations Concluded That Romney’s Tax Plan Would Cut Tax Rates For The Wealthy While Leaving 95 Percent Of Americans With A Net Tax Increase. According to New York Times, “The center is a joint effort of the Urban Institute and the Brookings Institution that includes economists and tax experts with experience in both Republican and Democratic administrations. It concluded that a tax-code overhaul meeting Mr. Romney’s goal — a 20 percent cut in all rates without adding to annual budget deficits — would leave wealthy taxpayers with a large tax cut but 95 percent of Americans with a net tax increase once tax breaks for items like mortgage interest are curtailed to keep deficits in check.” [New York Times, 8/11/12]

Romney’s Tax Plan Would Raise Taxes For 95 Percent Of Americans While Cutting Taxes For The Richest 5 Percent. According to The Washington Post, “Mitt Romney’s plan to overhaul the tax code would produce cuts for the richest 5 percent of Americans — and bigger bills for everybody else, according to an independent analysis set for release Wednesday. The study was conducted by researchers at the Brookings Institution and the nonpartisan Tax Policy Center, who seem to bend over backward to be fair to the Republican presidential candidate. To cover the cost of his plan — which would reduce tax rates by 20 percent, repeal the estate tax and eliminate taxes on investment income for middle-class taxpayers — the researchers assume that Romney would go after breaks for the richest taxpayers first… What would that mean for the average tax bill? Millionaires would get an $87,000 tax cut, the study says. But for 95 percent of the population, taxes would go up by about 1.2 percent, an average of $500 a year.” [The Washington Post, 8/1/12]