Romney promises middle-class tax cut

NORTH CONWAY, N.H., Sept. 9 (UPI) -- Former Massachusetts Gov. Mitt Romney has promised a series of tax breaks aimed at those making less than $200,000 if he becomes president.

Speaking Friday in New Hampshire, Romney said he would eliminate taxes on interest, dividends and capital gains for the middle class, The Boston Globe reported.

"You can save your money for a down payment on a house, for a car, for a boat, for college for your kids, whatever the heck you want," he told a group in a coffee shop in North Conway. "Government shouldn't be telling you they're going to tax you on your savings."

Critics say the bulk of the savings would go to taxpayers at the upper end of the income spectrum, who make more than four times the average. Robert S. McIntyre, director of Citizens for Tax Justice, said the plan would do little for those making less than $100,000, while those in the $100,000 to $200,000 range would save at most a few hundred dollars a year.