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Former Gov. Mitt Romney boasted this week that when he led Massachusetts, he presided over an increase in the states bond rating, a contrast to President Barack Obama, who saw Standard & Poors downgrade U.S. debt.
But Mr. Romney had an advantage that Mr. Obama sorely wanted but could not get from Congress: tax increases and the closing of tax loopholes.
Documents obtained by The Wall Street Journal Wednesday through the Freedom of Information Act show the Romney administrations pitch to S&P in late 2004 included the boast that The Commonwealth acted decisively to address the fiscal crisis that ensued after the terrorist attacks of 2001. Bulleted PowerPoint slides laid out the actions taken, including legislation in July 2002 to increase tax revenue by $1.1 billion to $1.2 billion in fiscal 2003 and $1.5 billion to $1.6 billion in fiscal 2004; tax loophole legislation that added $269 million in additional recurring revenue, and tax amnesty legislation that added $174 million. The final bullet: FY04 budget increased fees to raise $271 million yearly.
The efforts contradict the position that Mr. Romney took during the federal governments crisis over raising the statutory limit on federal borrowing, in which he said the debt ceiling should only be increased if federal spending was first cut, then capped, and a balanced budget amendment was passed by Congress. The Republican presidential front-runner ruled out tax increases, as Mr. Obama pressed for loophole closures of his own.
The presentation also laid out other steps that restrained spending increases, although spending was projected to rise above fiscal 2004 levels by 5.8% in fiscal 2005, according to the presentation.
Nobody's business but the people of MA. Their state, their business.
Not one more penny!
Did i stutter or skip a letter the last time i wrote it!?!
How man threads do we need about this? Will more threads suddenly make me care?
when someone is running for the highest seat in the land you should. But hey we can use your logic next time you bitch about anything
Whilst governor of Massachusetts, President Romney pitched to S&P that they should raise their rating on his state in part because he raised taxes.
Former Gov. Mitt Romney boasted this week that when he led Massachusetts, he presided over an increase in the states bond rating, a contrast to President Barack Obama, who saw Standard & Poors downgrade U.S. debt.
But Mr. Romney had an advantage that Mr. Obama sorely wanted but could not get from Congress: tax increases and the closing of tax loopholes.
Documents obtained by The Wall Street Journal Wednesday through the Freedom of Information Act show the Romney administrations pitch to S&P in late 2004 included the boast that The Commonwealth acted decisively to address the fiscal crisis that ensued after the terrorist attacks of 2001. Bulleted PowerPoint slides laid out the actions taken, including legislation in July 2002 to increase tax revenue by $1.1 billion to $1.2 billion in fiscal 2003 and $1.5 billion to $1.6 billion in fiscal 2004; tax loophole legislation that added $269 million in additional recurring revenue, and tax amnesty legislation that added $174 million. The final bullet: FY04 budget increased fees to raise $271 million yearly.
The efforts contradict the position that Mr. Romney took during the federal governments crisis over raising the statutory limit on federal borrowing, in which he said the debt ceiling should only be increased if federal spending was first cut, then capped, and a balanced budget amendment was passed by Congress. The Republican presidential front-runner ruled out tax increases, as Mr. Obama pressed for loophole closures of his own.
The presentation also laid out other steps that restrained spending increases, although spending was projected to rise above fiscal 2004 levels by 5.8% in fiscal 2005, according to the presentation.
Romneys Pitch to S&P Boasted of Revenue Raisers - Washington Wire - WSJ
i dont care about you posts.when someone is running for the highest seat in the land you should. But hey we can use your logic next time you bitch about anything
I bet you didn't care when Obama ran for the highest seat in the land and made reforming Medicare and Social Security a central part of his platform.
How man threads do we need about this? Will more threads suddenly make me care?
when someone is running for the highest seat in the land you should. But hey we can use your logic next time you bitch about anything
How man threads do we need about this? Will more threads suddenly make me care?
when someone is running for the highest seat in the land you should. But hey we can use your logic next time you bitch about anything
Did someone else post this? I didn't see it.
Whilst governor of Massachusetts, President Romney pitched to S&P that they should raise their rating on his state in part because he raised taxes.
Former Gov. Mitt Romney boasted this week that when he led Massachusetts, he presided over an increase in the states bond rating, a contrast to President Barack Obama, who saw Standard & Poors downgrade U.S. debt.
But Mr. Romney had an advantage that Mr. Obama sorely wanted but could not get from Congress: tax increases and the closing of tax loopholes.
Documents obtained by The Wall Street Journal Wednesday through the Freedom of Information Act show the Romney administrations pitch to S&P in late 2004 included the boast that The Commonwealth acted decisively to address the fiscal crisis that ensued after the terrorist attacks of 2001. Bulleted PowerPoint slides laid out the actions taken, including legislation in July 2002 to increase tax revenue by $1.1 billion to $1.2 billion in fiscal 2003 and $1.5 billion to $1.6 billion in fiscal 2004; tax loophole legislation that added $269 million in additional recurring revenue, and tax amnesty legislation that added $174 million. The final bullet: FY04 budget increased fees to raise $271 million yearly.
The efforts contradict the position that Mr. Romney took during the federal governments crisis over raising the statutory limit on federal borrowing, in which he said the debt ceiling should only be increased if federal spending was first cut, then capped, and a balanced budget amendment was passed by Congress. The Republican presidential front-runner ruled out tax increases, as Mr. Obama pressed for loophole closures of his own.
The presentation also laid out other steps that restrained spending increases, although spending was projected to rise above fiscal 2004 levels by 5.8% in fiscal 2005, according to the presentation.
Romneys Pitch to S&P Boasted of Revenue Raisers - Washington Wire - WSJ
Nobody's business but the people of MA. Their state, their business.
He's running for President, you dolt.
she's still living in 1985
The Book on Mitt RomneyAs governor of Massachusetts, Mitt Romney raised state government fees and taxes by three quarters of a billion dollars a year. During his four year tenure, Romney nickeled and dimed Massachusetts families and individuals with over a hundred fee increases, on everything from getting married (he upped the price for a marriage license), to buying a new home (he increased charges for Registry of Deeds paperwork), to owning a gun legally (he tripled the fee for a Firearms ID Card). He also proposed and obtained hundreds of millions of dollars in new tax revenues from business, with tax changes he dubbed loophole closings but critics said were really just tax increases. The fee hikes and tax revenue increases described here were all proposed by Romney himself, as elements of various budgets, revenue raiser packages, or other measures or policy proposals originating in Romney's office.
