Mitt Romney's big claim as a candidate is that he knows how to right America's foundering economy and bring back jobs. Also, he's a big believer in the conservative article of faith that cutting taxes for extremely rich people helps create more middle class jobs.
So, if you think about it, this is just sound business strategy…
To see where the presidential candidates stand on taxing the rich, just look at how they'd tax themselves. Under his own proposal, Mitt Romney would pay half what he would under President Barack Obama's tax plan. For a man of Romney's means, that could save almost $5 million a year.
Wow! $5 million a year over the course of two terms is $40 million dollars! Just think how many how many extra jobs he'll be able to create as President with an extra $40 million dollars in his bank account!
For Obama, not so loaded as Romney but still well-off, losing re-election could provide a tax windfall. He'd save as much as $90,000 a year if Romney's plan were enacted rather than his own tax-the-rich vision.
So, if you think about it, it's kind of a win-win situation for Obama. He either gets to keep being President or — as a consolation prize of sorts — he gets to keep an additional $3.6 million over the course of four years. As opposed to Romney who gets to be President and gets to keep $40 million or lose both and be remembered as a joke.
I wonder who has more at stake in this election.
Photo by Justin Sullivan/Getty Images News/Getty Images
Tags: Barack Obama, Mitt Romney, Money, Taxes