Think Progress reports:
“Romney’s corporate tax reforms would also provide Adelson’s casino company approximately $1.2 billion in tax breaks on overseas profits and $565 million from Romney’s proposed shift to a territorial tax system. Adelson’s share of that, the report says, would be upward of $900 million, nine times what he pledged to spend to get Romney to the White House.“
No wonder Adelson and the other billionaires consider the millions they’re throwing at Romney a sound business investment — Adelson stands to get NINE TIMES what he’s giving to Romney’s campaign. $900 million! Naturally, someone’s got to pay for Adelson’s windfall… and that will be you and me, the peasantry:
“While Romney’s tax plan would further enrich billionaires like Adelson, it would have to raise taxes on middle class families by as much as $2,000 if Romney were to keep his plan to maintain current levels of revenue.”
Summary: if you’re a billionaire / millionaire looking to keep even more of your income by paying even less in federal taxes, then it makes sense that you’d vote for Romney. However, if you’re an ordinary working stiff who earns less than $250,000 and you want to vote for Romney, check yourself into the nearest hospital for a thorough evaluation. You’re obviously suffering some kind of head and/or psychological trauma.
- Romney’s tax plan would personally save Sheldon Adelson a total $2.3 billion in taxes.
- It saves Adelson approximately $1.5 million in tax cuts on his CEO salary.
- In one year, Adelson could more than earn back his $100 million in political donations, since Romney will save him $120 million on dividend taxes.
- His casino company would get $1.2 billion in tax cuts.
- By eliminating the estate tax, Adelson would get a $8.9 billion windfall for his heirs.
Don’t like the thought of the wealthy elite buying our the Republican Party and our elections? Guess what: you can do something about it. Vote.