(Bloomberg) Eleven years ago, eliminating income taxes for low-income Americans was an applause line for a Republican president. Mitt Romney in 2012 sees the number of people paying nothing as a political problem.
The Republican presidential candidate’s comments that 47 percent of Americans don’t pay income taxes and see themselves as “victims” dependent on the government signifies a shift in the party’s thinking. Republicans backed refundable tax credits and expanded entitlement programs under George W. Bush. Now they want to curtail entitlements and express concern that not enough people are paying taxes.
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