Gop, Tax Plan | featured news

Republican U.S. presidential challenger Mitt Romney's proposal to slash income taxes by 20 percent across the board would boost income for the wealthiest taxpayers while reducing it for the middle class, according to a nonpartisan analysis released on Wednesday.

On a separate issue, Gingrich told reporters that he paid 31 percent of his 2010 income in taxes, more than double the 15 percent Romney said he pays. A Gingrich spokesman said the 31 percent was the effective federal rate on his income. Gingrich declined to criticize Romney on the tax issue, saying instead that it made the case for his own proposal to put in place an optional 15 percent flat income tax. "My goal is not to raise Mitt Romney's taxes, but to let everyone pay Romney's rate," he said.

A new independent study says Republican Mitt Romney's tax plan would increase taxes on low-income families while cutting taxes for the middle-class and the rich....

The tax plan by GOP presidential hopeful Newt Gingrich would provide big tax breaks to the rich and blow a huge hole in the federal budget deficit, according to an independent study released Monday.

The reviews are coming in on Rick Perry’s flat tax plan—and even some conservatives are giving it a thumbs-down.

Republican Rick Perry outlined a broad economic proposal on Monday to let Americans pay a flat 20 percent income tax rate and allow corporations to bring profits home from abroad at a discount.

Texas Gov. Rick Perry's call for a flat income tax rate will tie his Republican presidential campaign to a contentious issue that excites many conservatives but has repeatedly failed to win the embrace of mainstream America....