Economy

Mitt Romney Lies, Flubs Income Question

According to Mitt Romney, you can't accuse him of wanting to raise taxes on middle income people because "middle income" includes people who make between $200,000 and $250,000 per year.

"No one can say my plan is going to raise taxes on middle-income people, because principle number one is (to) keep the burden down on middle-income taxpayers," Romney told host George Stephanopoulos.

"Is $100,000 middle income?" Stephanopoulos asked.

"No, middle income is $200,000 to $250,000 and less," Romney responded.

Roughly 4 percent of the nation makes $200,000 or more, the median household income is $50,000, and roughly 25 percent of the nation makes $25,000 or less.

It's true that Romney wouldn't raise taxes on people making between $200,000 and $250,000, but his plan would raise taxes on those making below that amount according to the Tax Policy Center.

The original TPC study found that in a single year, 2015, Romney’s plan would shift at least $86 billion of the tax burden from households with incomes over $200,000 to households with incomes below that level. TPC estimates that in the same year, Romney’s unpaid-for corporate tax cuts would cost $96 billion. Therefore, the tax increases on the middle class that TPC originally estimated – at least $2,000 for families and $500 for all taxpayers with incomes under $200,000 – would likely be around twice as much if Romney’s unpaid-for corporate tax cuts are taken into account.

Even if you give Romney the benefit of the doubt and allow him the courtesy that he doesn't believe $200,000 is the median income in America, his claim that "no one can say my plan is going to raise taxes on middle-income people" still wouldn't be accurate.

His plan would raise taxes on the overwhelming majority of Americans while cutting taxes on the wealthy. This includes everyone making up to $200,000 per year, or roughly 96 percent of the country.