Trying to solidify himself as the protector of free-markets against the advance of the socialist leviathan promised by Democratic front-runners Hillary Clinton, John Edwards, and Barack Obama, former Massachusetts Governor Mitt Romney criticized John Edwards plan to almost double the capital-gains tax from 15 to 28% in exchange for $250 in tax-free gains. While speaking in Des Moines, IA on July 26, Governor Romney criticized the Edwards plan, saying that it would not help Americans “pay for college, or retirement, or a car – maybe a bike…” This dispute brings two things to mind. First, it is clear that Governor Romney’s estimated $250 million fortune has really made him lose touch with working-class Americans if he isn’t sure if $250 could buy a bike. Second, has anyone told John Edwards that his tax plan would not allow either of his Two-Americas to save enough, tax-free, to pay for half of his hair cut? Meanwhile, Governor Romney has unveiled his own plan to allow “middle-income Americans [if he has any idea what that means] to be able to save their money and not have to pay any tax at all on interest, dividends or capital gains.”
