House GOP Plan (Tax Reform + 1 Million New Jobs) vs. President Obama's Plan (Same Tax Code + $1.6 Trillion in Higher Taxes)
Wednesday, December 05, 2012
|
GOP Tax Reform |
President’s Plan |
Creates a simpler and fairer tax code |
Yes |
No |
Closes special interest loopholes |
Yes |
No |
Lowers tax rates for families and employers |
Yes |
No |
Encourages job-creating investments |
Yes |
No |
Makes the United States a more attractive place to invest and create jobs by reducing the corporate tax rate to 25 percent |
Yes |
No |
Modernizes America’s 1950s style international tax system so our workers can compete in the 21st century |
Yes |
No |
Ensures that the level of tax revenue taken out of the U.S. economy will not rise above historic levels |
Yes |
No |
Retains the current estate tax relief so that family-owned businesses have greater ability to plan for the future and pass their family-owned businesses on to future generations
|
Yes |
No |
Permanently addresses the alternative minimum tax that is currently looming over 31 million middle-class families |
Yes |
No |
Could lead to the creation of 1 million jobs when paired with spending cuts |
Yes |
No (in fact, it could cost
700,000 jobs) |
|