Two Graphs for the Weekend

I included a self-made graph in a post earlier this week showing the average tax cut under Mitt Romney’s proposed tax plan. I was under the assumption that the Tax Policy Center numbers I used to create that graph included his revised plan of across-the-board 20 percent tax cuts. Turns out I was wrong. They just recently released a new study to include the aforementioned tax cuts, and without any details on how Romney would broaden the tax base, this is what the change in after-tax income looks like (courtesy of the CBPP):

For a different look and comparison, here’s a chart of the effective tax rate change under both Romney’s and Obama’s plans (via Wonkblog):

The revised analysis, though, doesn’t change my opinion. How Romney plans to pay for these tax cuts is still something we should be discussing.

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