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Romney Campaign Press Release - Lower Taxes For All Americans: The Romney Vision vs. Edwards

July 26, 2007

"[Y]ou ought to be able to save your money and you ought to have a special tax rate [on your savings]... the tax rate ought to be absolutely zero. ... [Edwards is] going to announce today that he's in favor of a plan that let's you save $250 tax free. That's not going to pay for college, or retirement, or a car – maybe a bike..."

– Gov. Mitt Romney (Gov. Mitt Romney, Delivered Remarks, Des Moines, IA, 7/26/07)


As President, Governor Romney Would Strongly Support Lower Taxes:

Today, Governor Romney Highlighted The Difference Between His Vision For Lowering Taxes And The Democrat Plans To Raise Taxes. GOV. MITT ROMNEY: "There's a fundamental difference. Our democratic friends think that the best thing that you can do for our future is to give more money to the government. And my view is the best thing you can do economically for our future is to invest in our future by investing in enterprises... We create more economic vitality by our people investing than by having our government to do it." (Gov. Mitt Romney, Delivered Remarks, Des Moines, IA, 7/26/07)

- Watch Governor Romney Here:

Governor Romney Believes Raising Taxes Is The Wrong Direction For America. GOV. MITT ROMNEY: "Raising taxes is the opposite of giving people the freedom they need to make their own life choices. Raising taxes hurts working people." (Governor Mitt Romney, Remarks At The National Press Club, Washington, DC, 7/14/04)

Governor Romney Would Eliminate Taxes On Investment To Help Foster Saving And Investment. GOV. MITT ROMNEY: "I'd like middle-income Americans to be able to save their money and not have to pay any tax at all on interest, dividends or capital gains. And by the way, we're all talking about –" MSNBC's CHRIS MATTHEWS: "A zero rate on caps?" ROMNEY: "Zero rate on capital gains for middle-income Americans..." (MSNBC, Republican Presidential Candidate Debate, Simi Valley, CA, 5/3/07)

- Governor Romney: "You Don't Create Economic Prosperity By Raising Taxes." (John J. Miller, "Matinee Mitt," National Review, 6/20/05)

Governor Romney Was The First Potential 2008 Presidential Candidate To Sign The "Taxpayer Protection Pledge" Promising To Oppose Any Effort To Increase Taxes. "Demonstrating his commitment to oppose any effort to increase taxes on the American people, Governor Romney has signed Americans For Tax Reform's 'Taxpayer Protection Pledge.' As part of his pledge, Governor Romney will 'oppose any and all efforts to increase the marginal income tax rates' and 'oppose any net reduction or elimination of deductions and credits.' Governor Romney believes that by keeping taxes low and simplifying the tax code, we can grow the economy and enhance American competitiveness. These fundamental economic beliefs and principles led Governor Romney to become the first potential 2008 presidential candidate to sign Americans For Tax Reform's 'Taxpayer Protection Pledge.'" (Romney For President Exploratory Committee, "Governor Mitt Romney Signs 'Taxpayer Protection Pledge'," Press Release, 1/4/07)

- Governor Romney's Signed Pledge:

Governor Romney Would Make The Bush Tax Cuts Permanent: GOV. MITT ROMNEY: "It's absolutely critical that we don't have that massive tax hike and instead we make the Bush tax cuts permanent." (Governor Mitt Romney, Remarks At The Detroit Economic Club, Detroit, MI, 2/7/07)

Governor Romney Proposes Lowering Tax Rates For All Americans. GOV. MITT ROMNEY: "We should strive to keep marginal tax rates on America's families and businesses no higher than those imposed by our major global competitors. We should end tax penalties against saving and investment, and promote fairness and simplicity by ending special interest loopholes and lowering tax rates for all Americans." (Romney For President, "Governor Romney's Remarks At The Club For Growth," Press Release, 3/29/07)


John Edwards' New Tax Plan, Introduced Today, Nearly Doubles The Capital Gains Tax Rate To 28%. "Democratic presidential candidate John Edwards, once again seeking to drive the 2008 campaign debate within his party, will today propose raising the capital gains tax rate to 28% from 15%, and use the money to finance tax cuts for middle and lower income families." (John Harwood, "John Edwards Proposes Raising Capital-Gains Tax Rate," The Wall Street Journal, 7/26/07)

Edwards Will Tax Every Family's Investment And Savings Above $250. "While raising the capital gains levy to that level, which Edwards points out was a rate once signed into law by President Ronald Reagan, Edwards proposes a series of breaks for those not currently thriving in the US economy: –an exemption for each family's first $250 in interest, capital gains and dividend income, to help low-income families accumulate wealth." (John Harwood, "John Edwards Proposes Raising Capital-Gains Tax Rate," The Wall Street Journal, 7/26/07)

Edwards Will Keep The Death Tax And Roll Back Bush Tax Cuts. EDWARDS: "If we truly believe in a tax code that values work instead of wealth, then we cannot completely eliminate the estate tax. ... As president, I will repeal the Bush tax cuts for families earning more than $200,000 a year." (Sen. John Edwards, Remarks As Prepared For Delivery, Des Moines, IA, 7/26/07)

Edwards Has Been Calling For Higher Taxes Out On The Campaign Trail. EDWARDS: "I would pay for [healthcare plan] by getting rid of Bush's tax cuts for people who make over $200,000 a year." (CNN's "Anderson Cooper 360," 6/6/07)

- Edwards Wants A Windfall Profits Tax And Higher Capital Gains Taxes. EDWARDS: "What I said is I'm for a windfall profits tax. I'm for getting rid of George Bush's tax cuts for people who make over $200,000 a year. I'm also for looking at whether the capital gains structure that exists in this country today is one that makes sense. It is somewhat out of whack with what ordinary workers pay in terms of their marginal income tax rate. Fifteen percent, which is the capital gains rate, versus marginal rates for a lot of working people that are significantly higher than that. The worry and the concern that I think people like me would have to take into account is we don't want to see that capital fleeing America. We want to see that capital invested in America. But I think it is certainly something worth looking at." (ABC's "This Week," 5/6/07)

Mitt Romney, Romney Campaign Press Release - Lower Taxes For All Americans: The Romney Vision vs. Edwards Online by Gerhard Peters and John T. Woolley, The American Presidency Project

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