Romney's Tax Hike

Discussion in 'Politics' started by Rinata, Aug 3, 2012.

  1. Rinata
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    Rinata Gold Member

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    The Romney campaign’s increasingly desperate attempts to dismiss a new study of its tax plan are a pretty good sign that the study is devastating. That isn’t to say the campaign is trying to counter it with actual specifics.

    Performed by the Tax Policy Center, a joint venture of the Brookings Institution and the Urban Institute, the study shows that Mitt Romney’s proposal would lead to significantly lower taxes for the rich, and a higher tax burden on middle and lower-income taxpayers.

    He promised to reduce marginal tax rates by 20 percent, eliminate the estate tax and the alternative minimum tax, and end the capital gains tax for middle income taxpayers, all while not lowering the amount of revenue coming into the treasury. Mr. Romney said he would offset those losses by ending a series of loopholes, but has yet to cite a single loophole he would delete.

    The study tried to estimate what those loopholes might be. But it found that there simply aren’t enough loopholes in the tax code to balance the cut in high-end rates that Mr. Romney has proposed. Thus the rich would wind up with a cut, but to offset the loss of $360 billion by 2015, the middle-class would have to pay more when the breaks for mortgage interest, state taxes, education and medical expenses are wiped away.

    Someone with a calculator was inevitably going to find the many holes in the tax plan, given the tissue-thin level of thought that the campaign put into it, at a time when Mr. Romney’s primary opponents were proposing even worse nonsense like the 9-9-9 plan. The campaign has no numbers with which to fight the study because such numbers don’t exist. So, instead, it’s attacking the authors as liberals.

    Tax Policy Center Analysis of Romney Tax Plan - NYTimes.com

    Romney will never explain what the, "loopholes", are because he's such a liar. There aren't any, and I'm sure he knows that.
     
  2. buckeye45_73
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    buckeye45_73 Lakhota's my *****

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    Liberals love loopholes, just ask Harry Reid.....
    second...you must love raising taxes on the middle class and poor, that's what you do when you make businesses pay...they pass the cost onto us....DUH!!!!!!!!!!!
     
  3. occupied
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    occupied Gold Member

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    Shifting the tax burden downward is a winner with republicans for some odd reason. Can't see that there are enough rich people and ignorant working class teabillies to make something like this a reality.
     

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