In the new magical tale of the Romney Tax Plan--lower rates to 20% is now firmly on record, because of the debate, and eliminate deductions and loopholes is now firmly on the record because of the debate--In the Debate, Romney can't even keep his own rich people straight(?). . . .or something.
Here is just a part of six minutes!
Donald Trump had been raised, in the debate, as a subject rich person. Romney compares Trump, however, to a St. Louis Businessman--in a four-person shop--who is described as being everywhere aware of his taxes! Half his income goes to taxes! First Romney notes that 97% of businesses pay a lower rate. Like Obama contends, only 3% are at Donald Trump, or Oprah-level, incomes.
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38: ROMNEY: You bet. Well, President, you're -- Mr. President, you're absolutely right, which is that, with regards to 97 percent of the businesses are not -- not taxed at the 35 percent tax rate, they're taxed at a lower rate. But those businesses that are in the last 3 percent of businesses happen to employ half -- half of all the people who work in small business. Those are the businesses that employ one-quarter of all the workers in America. And your plan is to take their tax rate from 35 percent to 40 percent.
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Obama had noted that Mega-Rich Donald Trump is one of the "Successful" in the deficit-ridden economy: Which mainly helps rich people.
This below is not Donald Trump! Romney-Insanity can go from the top 3% to a struggling small business without noting the wide wealth difference between the two! That is insane!
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Now, and -- and I've talked to a guy who has a very small business. He's in the electronics business in -- in St. Louis. He has four employees. He said he and his son calculated how much they pay in taxes, federal income tax, federal payroll tax, state income tax, state sales tax, state property tax, gasoline tax. It added up to well over 50 percent of what they earned. And your plan is to take the tax rate on successful small businesses from 35 percent to 40 percent. The National Federation of Independent Businesses has said that will cost 700,000 jobs.
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Trump would pay the tax hike, but that fellow would not! The federal payroll tax is regressive. State Sales Taxes are regressive. State property taxes are regressive. Gasoline taxes are regressive. The top 3% don't even know those taxes exist. The fellow in the example is aware of those taxes! They take 50% of his income. The rich that Obama has been discussing are more likely only dimily aware that the regressive taxes even exist! They are rich people, who pay easily! Romney even released two years of tax returns to show it! 13% was the magic figure!
And then Romney brings up his "deductions elimination" framework, with no specifics!
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"My priority is jobs. And so what I do is I bring down the tax rates, lower deductions and exemptions, the same idea behind Bowles-Simpson, by the way, get the rates down, lower deductions and exemptions. . . ."
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So really, his priority is to cut taxes!
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21:22:58: OBAMA: Jim, I -- you may want to move onto another topic, but I -- I would just say this to the American people. If you believe that we can cut taxes by $5 trillion and add $2 trillion in additional spending that the military is not asking for, $7 trillion -- just to give you a sense, over 10 years, that's more than our entire defense budget -- and you think that by closing loopholes and deductions for the well-to-do, somehow you will not end up picking up the tab, then Governor Romney's plan may work for you.
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Commentators, analysts, and fact-checkers have not even so far bothered to check on whether Romney has a stable world-view, or if he thinks that the 97% are the 3% in the above. Then there is the matter of the 47% who are probably not the 1% who get most of the bail-out bucks(?)!
"Crow, James Crow: Shaken, Not Stirred!"
(Lands of Many Nations got rotted corn and poison blankets in the name of Christian Charity!)
Here is just a part of six minutes!
Donald Trump had been raised, in the debate, as a subject rich person. Romney compares Trump, however, to a St. Louis Businessman--in a four-person shop--who is described as being everywhere aware of his taxes! Half his income goes to taxes! First Romney notes that 97% of businesses pay a lower rate. Like Obama contends, only 3% are at Donald Trump, or Oprah-level, incomes.
___________________________
21
38: ROMNEY: You bet. Well, President, you're -- Mr. President, you're absolutely right, which is that, with regards to 97 percent of the businesses are not -- not taxed at the 35 percent tax rate, they're taxed at a lower rate. But those businesses that are in the last 3 percent of businesses happen to employ half -- half of all the people who work in small business. Those are the businesses that employ one-quarter of all the workers in America. And your plan is to take their tax rate from 35 percent to 40 percent.____________________________
Obama had noted that Mega-Rich Donald Trump is one of the "Successful" in the deficit-ridden economy: Which mainly helps rich people.
This below is not Donald Trump! Romney-Insanity can go from the top 3% to a struggling small business without noting the wide wealth difference between the two! That is insane!
____________________________
Now, and -- and I've talked to a guy who has a very small business. He's in the electronics business in -- in St. Louis. He has four employees. He said he and his son calculated how much they pay in taxes, federal income tax, federal payroll tax, state income tax, state sales tax, state property tax, gasoline tax. It added up to well over 50 percent of what they earned. And your plan is to take the tax rate on successful small businesses from 35 percent to 40 percent. The National Federation of Independent Businesses has said that will cost 700,000 jobs.
___________________________
Trump would pay the tax hike, but that fellow would not! The federal payroll tax is regressive. State Sales Taxes are regressive. State property taxes are regressive. Gasoline taxes are regressive. The top 3% don't even know those taxes exist. The fellow in the example is aware of those taxes! They take 50% of his income. The rich that Obama has been discussing are more likely only dimily aware that the regressive taxes even exist! They are rich people, who pay easily! Romney even released two years of tax returns to show it! 13% was the magic figure!
And then Romney brings up his "deductions elimination" framework, with no specifics!
______________________
"My priority is jobs. And so what I do is I bring down the tax rates, lower deductions and exemptions, the same idea behind Bowles-Simpson, by the way, get the rates down, lower deductions and exemptions. . . ."
_________________________
So really, his priority is to cut taxes!
_________________________________
21:22:58: OBAMA: Jim, I -- you may want to move onto another topic, but I -- I would just say this to the American people. If you believe that we can cut taxes by $5 trillion and add $2 trillion in additional spending that the military is not asking for, $7 trillion -- just to give you a sense, over 10 years, that's more than our entire defense budget -- and you think that by closing loopholes and deductions for the well-to-do, somehow you will not end up picking up the tab, then Governor Romney's plan may work for you.
_______________________
Commentators, analysts, and fact-checkers have not even so far bothered to check on whether Romney has a stable world-view, or if he thinks that the 97% are the 3% in the above. Then there is the matter of the 47% who are probably not the 1% who get most of the bail-out bucks(?)!
"Crow, James Crow: Shaken, Not Stirred!"
(Lands of Many Nations got rotted corn and poison blankets in the name of Christian Charity!)
