NEW: State Democrats Question Doherty’s Economic Plan
Wednesday, January 11, 2012
The state Democratic Party is calling Republican Congressional candidate Brendan Doherty's economic policy "even more harmful" to the middle-class than Presidential candidate Mitt Romney's proposal.
According to a news release sent by the Party, Doherty has called for the end of the capital gains tax while Romney recognizes that such tax cuts should be directed toward the middle-class, not the very wealthiest Americans. Under Doherty’s approach over three quarters of the benefits would go to millionaires and billionaires whereas Romney has called for the capital gains tax cut to be only go to families making under $200,000 a year.
The news release also notes that Doherty also wants to reduce the corporate tax rate from 35% to 22%. Romney only wants to reduce the corporate tax rate to 25% which would still cost almost a trillion dollars.
“Rhode Islanders are really hurting right now and it is particularly disconcerting that a congressional candidate would actually support someone who shipped Rhode Island jobs overseas”, said RI Democratic Party Chairman Ed Pacheco. “The last thing we need is a presidential candidate who doesn’t care about the decimation of our manufacturing sector and another vote in Congress for economic policies that favor the wealthy at the expense of everyone else.”