Baraka Obama win could cost Romney $5M in personal taxes

Want to see where the presidential candidates stand on taxing the rich? Just look at how they'd tax themselves.

Under his own proposal, Mitt Romney would pay half what he would under President Barack Obama's tax plan. For a man of Romney's means, that could save almost $5 million a year.

Obama isn't as loaded as Romney but is still well-off. For Obama, losing re-election could provide a tax windfall. He'd save as much as $90,000 a year if Romney's plan were enacted rather than his own tax-the-rich vision.

Two nonprofit research groups, the liberal-leaning Citizens for Tax Justice and conservative-leaning Tax Foundation, did the calculations, based on the most recent completed tax returns released by the candidates.


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