Would like more info on Romney Tax Plan

[legodad]

I have tried googling the details on Romney's tax plan but all I can find are sweeping statements about a 20% reduction in income taxes, repealing estate taxes, reducing corporate tax rates and getting rid of taxes on investment income if your AGI is less than $200k.

Specifically I would like to know if he is going to abolish or reduce the earned income tax credit, the child tax credit, and the mortgage interest deduction to pay for the above cuts as he has stated his plan would be revenue neutral. On his website there is no mention of what will be cut to pay for the above tax reductions and I can't find anywhere what his plans are for these 3 tax credits.

Anybody know? If not, will Romney tell us what he plans to cut before election time or are we expected to just vote and hope for the best? I know he has to cut something to pay for those large income tax cuts, but what the heck is it? Blind faith is not going to cut it for me.

 

[onecut39]

I have tried googling the details on Romney's tax plan but all I can find are sweeping statements about a 20% reduction in income taxes, repealing estate taxes, reducing corporate tax rates and getting rid of taxes on investment income if your AGI is less than $200k.

Specifically I would like to know if he is going to abolish or reduce the earned income tax credit, the child tax credit, and the mortgage interest deduction to pay for the above cuts as he has stated his plan would be revenue neutral. On his website there is no mention of what will be cut to pay for the above tax reductions and I can't find anywhere what his plans are for these 3 tax credits.

Anybody know? If not, will Romney tell us what he plans to cut before election time or are we expected to just vote and hope for the best? I know he has to cut something to pay for those large income tax cuts, but what the heck is it? Blind faith is not going to cut it for me.

YOu are about as well informed as you can be. Only Romney knows and he ain't telling. Doesn't want to get into any pre election controversies that might cost him votes.

 

[legodad]

YOu are about as well informed as you can be. Only Romney knows and he ain't telling. Doesn't want to get into any pre election controversies that might cost him votes.

Unfortunately I suspected as much. If he ain't telling, he ain't getting my vote that is for sure. How can the American public be expected to make an informed decision if no details are to be released? Pathetic!

 

[Vel]

Having trouble with Google?

TPC Tax Topics | romney-plan

 

[legodad]

Having trouble with Google?

I wish I did! That was the second site I visited after Mitt's main website and this is what we have:

" He would also expand the tax base by cutting back tax preferences, but has supplied no information on which preferences would be reduced. "

That is a pretty big omission and one that I cannot ignore. If the child tax credit, earned income credit and mortgage deduction are going for my family that is equivalent to a 12% tax hike, and believe me I do not earn big bucks and cannot afford it!