Bloomberg News

Romney Says Middle Income Americans Most Need Tax Cuts

October 11, 2011

(For more on the 2012 election, see {ELECT <GO>}.)

Oct. 11 (Bloomberg) -- Former Massachusetts Governor Mitt Romney said his economic plan calls for cutting capital gains tax rates for middle-class taxpayers because they are the people “who are hurting the most.”

In a debate among Republican presidential candidates, former House Speaker Newt Gingrich questioned Romney’s proposal for restricting lower capital gains taxes to people making less than $200,000 a year. Wealthier Americans get most of the capital gains, Gingrich said.

“I’m not worried about rich people, they’re doing just fine,” Romney said.

The candidates spoke at a debate sponsored by Bloomberg LP and The Washington Post in Hanover, New Hampshire.

To contact the editor responsible for this story: Bob Drummond at bdrummond@bloomberg.net


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