Mitt Romney’s Pledge to the 1%

Why is Mitt Romney Making Pledges to a Washington Lobbyist?

We’ve previously told you about the 1% Pledge — a pledge run by Washington superlobbyist Grover Norquist that the vast majority of Congressional Republicans have taken.  Instead of merely pledging to uphold the oath they take to “support and defend the Constitution of the United States,” these Members of Congress also pledge to never, ever raise taxes on anyone and/or end any of the wasteful tax loopholes and giveaways written into our broken tax code.

While some Republicans have recently come to their senses and publicly, even angrily denounced the 1% Pledge, at least one continues be locked in: Mitt Romney.  Earlier this week, the lobbyist author of the 1% Pledge underscored that it would force Romney to oppose the Buffett Rule no matter what:

But Norquist voiced confidence that there’s not a chance the presumptive GOP presidential nominee will back away from the tax pledge, which binds office holders to “oppose any and all efforts” to increase the marginal income tax rate.

“He has basically endorsed the Ryan plan,” Norquist said in reference to the House GOP budget authored by Rep. Paul Ryan (R-Wis.), which would lower the top individual tax rate to 25 percent. “He’s signed the Taxpayer Protection Pledge, so he’s put in writing that he would never do this.

“And what House of Representatives would allow him to and what Republican Senate would allow him to? This is not going to be an option,” Norquist added.

Not that we had any doubts about Romney’s ironclad opposition to making the very wealthiest Americans like himself pay their fair share in taxes, but here’s the rundown on what else Mitt Romney’s 1% Pledge  means in practice.

Mitt Romney’s 1% Pledge in Action

Mitt Romney has promised a Washington lobbyist that he will never, ever:

  • make the wealthiest Americans pay their fair share
  • make huge corporations pay their fair share (or even any taxes at all in some cases)
  • end the unfair tax loopholes that allow millionaires like himself and the billionaires funding his campaign to pay a lower tax rate than middle class Americans
  • end the unfair handouts to hedge fund and private equity managers (like Mitt Romney himself)
  • end tens of billions of dollars in handouts to Big Oil
  • end unfair tax loopholes that pay companies to ship jobs overseas
  • end unfair tax loopholes for vacation homes and yachts
  • end unfair and ridiculous tax loopholes for things like wealthy horse breeders or corporate jets

And of course we know that for every dollar in giveaways to the wealthiest 1 Percent and special interests that Mitt Romney pledges to protect, that’s one more dollar he’ll cut from Social Security, Medicare, and programs that benefit middle class families.  In fact, that’s exactly what Romney’s already said he’ll do: slash programs for the middle class in order to give trillions more in tax breaks to the wealthiest Americans.

IN ONE SENTENCE: Instead making pledges to Washington lobbyists to protect every last tax giveaway to the wealthy and corporate special interests, we need leaders who will pledge to uphold the Constitution and do what’s best for the country.

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Advocacy Team