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Mitt Romney Tax Plan: Study Shows Deduction Caps Don't Pay For Tax Cuts
Quote:
The former Massachusetts governor has argued that his plan will not cost $4.8 trillion. At a debate on Tuesday with Democratic President Barack Obama, Romney reiterated that he would pay for his tax cut proposal by capping tax deductions by a set dollar amount. Taxpayers could choose their deductions under the cap, such as the home mortgage interest and charitable donation write-offs, among others, he said.
"I'm going to bring rates down across the board for everybody, but I'm going to limit deductions and exemptions and credits, particularly for people at the high end," Romney said at the debate in Hempstead, New York.
I ask this because I truly want to know and understand his proposals for tax cuts. I know there are plenty of great political minds on this board that can comprehend this much better than I could attempt. Throughout the race, I've always stated that Romney has been vague on the details for his tax cuts. I don't think I've seen one anaylst that agrees with his proposals.
I just want the best explanation from you guys. Does his math and arithmetic really add up or does it not like suggested?
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conceptually, why is it that so much taxes get taken, and then there is so many loopholes to get it back...why not just set a flst level or even a staggered level that would represent the same ratios of taxes paid on income and then call it a day?
you do understand that it is democrats who are against a flat rate, or for that matter, any simplification of the tax code simply because it interferes with their mission to control as much of an individuals personal income as possible in the name of providing services to THEIR constituents (ie, buying their votes)
there is absolutely nothing noble in the pursuits put on by the liberals
__________________ “ I think good coaches will coach with the personnel they have, and if you only have one (good) linebacker, you’re not going to play a 3–4. ”
—Hank Bullough, who installed one of the first 3–4 defenses with the New England Patriots.
Last edited by IcyPatriot; 10-18-2012 at 01:08 PM..
conceptually, why is it that so much taxes get taken, and then there is so many loopholes to get it back...why not just set a flst level or even a staggered level that would represent the same ratios of taxes paid on income and then call it a day?
you do understand that it is democrats who are against a flat rate, or for that matter, any simplification of the tax code simply because it interferes with their mission to control as much of an individuals personal income as possible in the name of providing services to THEIR constituents (ie, buying their votes)
there is absolutely nothing noble in the pursuits put on by the liberals
Thanks Illegal.
I've actually always been all for flat tax rates, I think thats as "fair" as we can be. Of course, the very wealthy still end up paying more money but that doesn't mean they pay higher taxes.
__________________
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Last edited by IcyPatriot; 10-18-2012 at 01:09 PM..
Mitt Romney Tax Plan: Study Shows Deduction Caps Don't Pay For Tax Cuts
I ask this because I truly want to know and understand his proposals for tax cuts. I know there are plenty of great political minds on this board that can comprehend this much better than I could attempt. Throughout the race, I've always stated that Romney has been vague on the details for his tax cuts. I don't think I've seen one anaylst that agrees with his proposals.
I just want the best explanation from you guys. Does his math and arithmetic really add up or does it not like suggested?
The reason you have to ask is because the Romney campaign hasn't released any details. The closest thing to a detail was during this last debate when Mitt litterally threw out a made up figure so you can choose which deductions you can accept. I'll quote my man:
Quote:
"one way of [bringing down deductions] would be to say everybody gets -- I'll pick a number -- $25,000 of deductions and credits, and you can decide which ones to use."
He is litterally making it up as he goes along.
3 weeks away from an election, and he still doesn't know what he will do with your taxes. We know more about his tax returns than we do his tax plan, and thats amazing.
The reason you have to ask is because the Romney campaign hasn't released any details. The closest thing to a detail was during this last debate when Mitt litterally threw out a made up figure so you can choose which deductions you can accept. I'll quote my man:
He is litterally making it up as he goes along.
3 weeks away from an election, and he still doesn't know what he will do with your taxes. We know more about his tax returns than we do his tax plan, and thats amazing.
You have to ask because he hasn't told you.
LOL.....just like barack "I CUT TAXES 18 TIMES" obama
__________________ “ I think good coaches will coach with the personnel they have, and if you only have one (good) linebacker, you’re not going to play a 3–4. ”
—Hank Bullough, who installed one of the first 3–4 defenses with the New England Patriots.
The reason you have to ask is because the Romney campaign hasn't released any details. The closest thing to a detail was during this last debate when Mitt litterally threw out a made up figure so you can choose which deductions you can accept. I'll quote my man:
He is litterally making it up as he goes along.
3 weeks away from an election, and he still doesn't know what he will do with your taxes. We know more about his tax returns than we do his tax plan, and thats amazing.
You have to ask because he hasn't told you.
We have to pass the plan to find out what's in it!
LOL.....just like barack "I CUT TAXES 18 TIMES" obama
(slow golf clap)
You've had a few posts to answer the question posed by Kid~Brady, in both posts, you have done little more than spew talking points, and try to jab. Kid~Brady is asking what most level-headed americans are asking.
Quote:
Does his math and arithmetic really add up or does it not like suggested?
well...?
Even Mitt Romney can't tell you if his numbers add up, because even Mitt Romney doesn't know what his numbers are. The math doesn't exist, beacuse he hasn't told anyone what he would cut, who gets deductions etc. He pulled a number out of thin air during a Presidential debate. He prepared for this debate, has been running for well over a year, 5 if you count the 2008 election and in that time....Mitt Romney has yet to come up with a concrete tax plan with numbers, figures, and a list of deductions. This is a SELF declared BUISNESSMAN, who somehow can't tell you how he will do buisness.
I guarantee you that the next debate, Mitt will have brand new figures, brand new percentages, and brand new stances...wait and see.
Oh, that's only allowed for one team? #$%#$% replacement refs.
Congress' Job is to mold and shape laws as they move through the process. We knew what was in that bill, because they were debating it for over a year. You've gotta be kidding me?
Asking a president his plan during an election is clearly within the rights of any able minded voter. A presidential nominee, who is claiming to cut deductions but not telling you what deductions he wil cut is selling snake oil.
Congress' Job is to mold and shape laws as they move through the process. We knew what was in that bill, because they were debating it for over a year. You've gotta be kidding me?
Asking a president his plan during an election is clearly within the rights of any able minded voter. A presidential nominee, who is claiming to cut deductions but not telling you what deductions he wil cut is selling snake oil.
You just admitted that it would be Congress who would mold and shape the details and then demanded that he name them ahead of time. Brilliant.
4Likes
Someone please explain this to me....
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