Plunging into the heated debate over taxes among Republican presidential contenders, former US Senate candidate Mitt Romney today is running a series of full-page newspaper ads attacking the 17 percent flat tax proposed by candidate Steve Forbes.
"The problem with the Forbes flat tax is that it isn't flat at all -- it's a zero tax on the wealthy and a 17 percent tax on working Americans," Romney said yesterday. "I'm hoping that by running these ads voters will realize the Forbes flat tax is a gimmick, a phony, and not what it pretends to be."
The ads note that Forbes' plan would tax wages at 17 percent, but would not tax income from dividends, interest and investment profits. "The Forbes tax isn't a flat tax at all -- it's a tax cut for fat cats!" the ad says.