How does it stimulate the economy to cut taxes and then raise them the same amount?

[OohPooPahDoo]

How does it stimulate the economy to cut taxes and then raise them the same amount? Romney's plan is to cut tax rates and then get rid of deductions, credits, and loopholes to make up the difference. How is that a tax cut? The federal government still extracts the same amount of money from the economy.

Why hasn't he been more specific about which deductions, loopholes, and credits he's going to ax? Do we not have a right to know or is that a secret?

 

[Listening]

How does it stimulate the economy to cut taxes and then raise them the same amount? Romney's plan is to cut tax rates and then get rid of deductions, credits, and loopholes to make up the difference. How is that a tax cut? The federal government still extracts the same amount of money from the economy.

Why hasn't he been more specific about which deductions, loopholes, and credits he's going to ax? Do we not have a right to know or is that a secret?

If this is really lost on you, then you should be spending your time elsewhere.

It was explained in the debate to the degree it should have been (and Axelrod still can't keep his slimy hands off of it).

 

[Some Guy]

Romney's plan is to cut tax rates and then get rid of deductions, credits, and loopholes to make up the difference. How is that a tax cut?

First of all, when you talk about taxes, there's two main things: rates and revenues. He's talking about cutting the rates there.

Second, would everyone not agree that deductions, credits and loopholes benefit the rich far more than the middle or lower class? If we lower rates but manage to cap deductions at say $10,000 per household which prevents billionaires from being able to save millions on deductions and loopholes, would that not prevent billionaires from circumventing paying their "fair share?" If they can't get all those breaks, deductions and loopholes to lower their effective rate then it's the liberal's beloved tax hike on the rich in comparison with the rest of the populace, is it not?

Romney is proposing eliminating loopholes for the rich... and the liberals are whining about it. If Obama proposed the exact same thing and didn't give specifics, be honest, would you be upset about it?

Why hasn't he been more specific about which deductions, loopholes, and credits he's going to ax? Do we not have a right to know or is that a secret?

Candidates don't win elections by giving the specifics. The less specifics you can keep from people, the better, because the less there is to nitpick and possibly lose you votes because of it. We had a candidate in 2008 who did little more than say "Hope", "Change" and ride the anti-Bush wave and he got elected. Did you have a problem with lack of specifics back then? I'm guessing you didn't.

 

[Quantum Windbag]

How does it stimulate the economy to cut taxes and then raise them the same amount? Romney's plan is to cut tax rates and then get rid of deductions, credits, and loopholes to make up the difference. How is that a tax cut? The federal government still extracts the same amount of money from the economy.

Why hasn't he been more specific about which deductions, loopholes, and credits he's going to ax? Do we not have a right to know or is that a secret?

How does it reduce crime to increase abortions?

 

[OohPooPahDoo]

How does it stimulate the economy to cut taxes and then raise them the same amount? Romney's plan is to cut tax rates and then get rid of deductions, credits, and loopholes to make up the difference. How is that a tax cut? The federal government still extracts the same amount of money from the economy.

Why hasn't he been more specific about which deductions, loopholes, and credits he's going to ax? Do we not have a right to know or is that a secret?

If this is really lost on you, then you should be spending your time elsewhere.

It was explained in the debate to the degree it should have been (and Axelrod still can't keep his slimy hands off of it).

Why can't you explain it?

 

[LadyGunSlinger]

Liberals don't understand economics.. They understand ONE THING- SPENDING.

End of story.

 

[Katzndogz]

You could take a course in economics and taxation, or listen more carefully to Romney's plan. Someone who makes two million dollars a year can have the same tax rate as you do after exemptions and adjustments. But, if the rates are raised, YOU will be paying more, the two million dollar a year earner will pay slightly more, but with loopholes and exemptions will STILL make more than you. After all you aren't entitled to those exemptions. You don't make enough money. Lower the rate, so that YOU don't pay such a high tax. The person making two million dollars a year will pay a lower tax rate too, but won't have the same number of exemptions and will ultimately pay more.

 

[OohPooPahDoo]

Second, would everyone not agree that deductions, credits and loopholes benefit the rich far more than the middle or lower class?

Which deductions, credit, and loopholes?

If we lower rates but manage to cap deductions at say $10,000 per household which prevents billionaires from being able to save millions on deductions and loopholes, would that not prevent billionaires from circumventing paying their "fair share?"

So Romney wants to raise the net tax liability of the rich? Or lower it?

If they can't get all those breaks, deductions and loopholes to lower their effective rate then it's the liberal's beloved tax hike on the rich in comparison with the rest of the populace, is it not?

Which deductions, credit, and loopholes?

Romney is proposing eliminating loopholes for the rich... and the liberals are whining about it.

Which ones is he proposing the elimination of?

If Obama proposed the exact same thing and didn't give specifics, be honest, would you be upset about it?

When did he do that?

Candidates don't win elections by giving the specifics. The less specifics you can keep from people, the better, because the less there is to nitpick and possibly lose you votes because of it. We had a candidate in 2008 who did little more than say "Hope", "Change" and ride the anti-Bush wave and he got elected. Did you have a problem with lack of specifics back then? I'm guessing you didn't.

Obama's tax plan was actually very specific. Did you pay attention at all in 2008? He campaigned on removing the Bush tax cuts for singles making over 200k and married couples making over 250k. I don't know how he could have gotten more specific. Did you pay attention at all? I can't believe you missed that!

 

[LadyGunSlinger]

You could take a course in economics and taxation, or listen more carefully to Romney's plan. Someone who makes two million dollars a year can have the same tax rate as you do after exemptions and adjustments. But, if the rates are raised, YOU will be paying more, the two million dollar a year earner will pay slightly more, but with loopholes and exemptions will STILL make more than you. After all you aren't entitled to those exemptions. You don't make enough money. Lower the rate, so that YOU don't pay such a high tax. The person making two million dollars a year will pay a lower tax rate too, but won't have the same number of exemptions and will ultimately pay more.

He doesn't want to hear it.. This thread is nothing more than a smoke screen to attack Mitt Romney on the same lies, distortions, propaganda that they've been doing.. the problem is, IT'S NO LONGER WORKING. Smart Americans heard and understood Romney last Wednesday night.. you liberals can't paint him and define him any longer. Now you actually have to run on that moron's record of failure.. GOOD LUCK WITH THAT~!

 

[OohPooPahDoo]

You could take a course in economics and taxation, or listen more carefully to Romney's plan. Someone who makes two million dollars a year can have the same tax rate as you do after exemptions and adjustments. But, if the rates are raised, YOU will be paying more, the two million dollar a year earner will pay slightly more, but with loopholes and exemptions will STILL make more than you. After all you aren't entitled to those exemptions. You don't make enough money. Lower the rate, so that YOU don't pay such a high tax. The person making two million dollars a year will pay a lower tax rate too, but won't have the same number of exemptions and will ultimately pay more.

Which loopholes and exemptions are you talking about?

 

[OohPooPahDoo]

You could take a course in economics and taxation, or listen more carefully to Romney's plan. Someone who makes two million dollars a year can have the same tax rate as you do after exemptions and adjustments. But, if the rates are raised, YOU will be paying more, the two million dollar a year earner will pay slightly more, but with loopholes and exemptions will STILL make more than you. After all you aren't entitled to those exemptions. You don't make enough money. Lower the rate, so that YOU don't pay such a high tax. The person making two million dollars a year will pay a lower tax rate too, but won't have the same number of exemptions and will ultimately pay more.

He doesn't want to hear it.. This thread is nothing more than a smoke screen to attack Mitt Romney on the same lies, distortions, propaganda that they've been doing.. the problem is, IT'S NO LONGER WORKING. Smart Americans heard and understood Romney last Wednesday night.. you liberals can't paint him and define him any longer. Now you actually have to run on that moron's record of failure.. GOOD LUCK WITH THAT~!

Which loopholes, deductions, credits, and exemptions will he eliminate?

 

[Some Guy]

Which loopholes, deductions, credits, and exemptions will he eliminate?

The same ones the liberals always complain about the rich taking advantage of.

 

[LadyGunSlinger]

This is the entire OBAMA CAMPAIGN.. Right here in this thread. Pathetic, isn't it?

 

[Some Guy]

He campaigned on removing the Bush tax cuts for singles making over 200k and married couples making over 250k. I don't know how he could have gotten more specific.

You must be pretty mad at him for not keeping that promise.

 

[toomuchtime_]

How does it stimulate the economy to cut taxes and then raise them the same amount? Romney's plan is to cut tax rates and then get rid of deductions, credits, and loopholes to make up the difference. How is that a tax cut? The federal government still extracts the same amount of money from the economy.

Why hasn't he been more specific about which deductions, loopholes, and credits he's going to ax? Do we not have a right to know or is that a secret?

Before asking that question, you first have to remember how the US government works. The President cannot lower tax rates or end deductions without first negotiating with Congress about his proposals, so at this point all Romney can tell us is the outline of what he will propose to Congress and the details will emerge from negotiations between the WH and Congress.

Tax deductions for the most part are government incentives intended to direct spending or investment in certain directions instead of allowing free markets to guide consumers and investors. Vigorous free markets induce price competition and direct capital to its most productive (highest valued) use, so lowering tax rates will put more money into the hands of consumers and investors and ending the government's attempts to micromanage the economy through deductions will allow free market competition to stimulate the economy.

 

[SniperFire]

How does it stimulate the economy to cut taxes and then raise them the same amount? Romney's plan is to cut tax rates and then get rid of deductions, credits, and loopholes to make up the difference. How is that a tax cut? The federal government still extracts the same amount of money from the economy.

Why hasn't he been more specific about which deductions, loopholes, and credits he's going to ax? Do we not have a right to know or is that a secret?

Wrong. The economy is not a zero sum game.

 

[OohPooPahDoo]

Which loopholes, deductions, credits, and exemptions will he eliminate?

The same ones the liberals always complain about the rich taking advantage of.

Which specific ones are you talking about? Can you name them or are you ignorant of such information?

 

[OohPooPahDoo]

He campaigned on removing the Bush tax cuts for singles making over 200k and married couples making over 250k. I don't know how he could have gotten more specific.

You must be pretty mad at him for not keeping that promise.

The Republicans would not allow it. Fuck you're dumb.

 

[SniperFire]

Which loopholes, deductions, credits, and exemptions will he eliminate?

The same ones the liberals always complain about the rich taking advantage of.

Which specific ones are you talking about? Can you name them or are you ignorant of such information?

Romney said that has to be worked out in Congress.

It may shock you, but before Obama became a tinpot dictator, Congress used to decide these sort of things.

 

[OohPooPahDoo]

How does it stimulate the economy to cut taxes and then raise them the same amount? Romney's plan is to cut tax rates and then get rid of deductions, credits, and loopholes to make up the difference. How is that a tax cut? The federal government still extracts the same amount of money from the economy.

Why hasn't he been more specific about which deductions, loopholes, and credits he's going to ax? Do we not have a right to know or is that a secret?

Before asking that question, you first have to remember how the US government works. The President cannot lower tax rates or end deductions without first negotiating with Congress about his proposals, so at this point all Romney can tell us is the outline of what he will propose to Congress and the details will emerge from negotiations between the WH and Congress.

Tax deductions for the most part are government incentives intended to direct spending or investment in certain directions instead of allowing free markets to guide consumers and investors. Vigorous free markets induce price competition and direct capital to its most productive (highest valued) use, so lowering tax rates will put more money into the hands of consumers and investors and ending the government's attempts to micromanage the economy through deductions will allow free market competition to stimulate the economy.

I'm aware of all that.

Which deductions, credits, exemptions, and loopholes would Romney like to get rid off?

I already know how to calculate what my taxes would be under Obama re-elected if his plan is enacted. I also know what my taxes are if nothing changes in the tax code. What I don't know is what I would pay under Mitt Romney.