New chart from Tax Policy Center.
Obama vs. Romney on tax rates: As you can see, rates are largely the same—except for the nation’s richest and poorest. The poor would pay almost twice as much in taxes under Romney’s plan; meanwhile, the very richest in the country would be forced to cough up about 10% more of their income under Obama. The net effect? In short, Romney’s plan would reduce federal revenues to about 17% of GDP—down .9% from where they are now. Obama’s budget would raise revenues 19.2%, with most of that money coming from those making over $250,000 a year (Graphic and data courtesy of The Washington Post / Tax Policy Center).
Just so we’re clear:
If you’re in the lower 60 percent, your taxes will be lower under Obama than under Romney.
If you’re in the lower 90 percent, your taxes will be lower or roughly the same under Obama.
If you’re in the top 10 percent, Romney got yer back.