Romney Immediately Distances Himself From Ryan Budget

[NYcarbineer]

Okay, Ed Gillespie was on CNN this morning responding to this by reminding us that Romney said he'd have signed the Ryan budget bill,

so is that better? Should Romney flip, flop, or remain in place? lol

 

[initforme]

Could someone please answer this legitimate question I have? According to some people I talk too, Romney Ryan want to cut taxes, some I talk to say they are going to keep taxes as they are, no increases. Some say that the middle class will end up paying a little more in taxes. If the plan is to cut or keep taxes the way they are, where does this middle class paying a little more come from or the $2000 increase on middle class families. Now I know alot of the ads are misleading and numbers can be worked to make it sound good or bad. But how would the middle class be made to pay more when the line on taxes is going to be held according to their budget?

 

[Greenbeard]

Could someone please answer this legitimate question I have? According to some people I talk too, Romney Ryan want to cut taxes, some I talk to say they are going to keep taxes as they are, no increases. Some say that the middle class will end up paying a little more in taxes. If the plan is to cut or keep taxes the way they are, where does this middle class paying a little more come from or the $2000 increase on middle class families. Now I know alot of the ads are misleading and numbers can be worked to make it sound good or bad. But how would the middle class be made to pay more when the line on taxes is going to be held according to their budget?

Under the proposal Romney has been running on thus far, the tax burden of the middle class will increase.

Paying for tax breaks for millionaires is expensive and Romney proposes to do so by wringing extra revenues out of the existing tax code by closing loopholes (i.e. ending deductions). But it turns there's no way, not even a theoretical way, to get that missing revenue back by closing loopholes unless you're doing it in a way that preferentially raises the tax burden of the middle class.

Romney's IRS would be keeping more of your salary than Obama's IRS. Unless you're a millionaire, I suppose.

 

[initforme]

Supposing even part of your statement is correct. How can having the middle class pay more taxes be justified? What middle class person in their right mind would support something like this? If and I mean IF this is true what a truly warped way of kicking those who are already barely scraping by. Can someone on this board justify closing loopholes that hard working middle class people need to keep their existence?

 

[Greenbeard]

Supposing even part of your statement is correct. How can having the middle class pay more taxes be justified? What middle class person in their right mind would support something like this? If and I mean IF this is true what a truly warped way of kicking those who are already barely scraping by. Can someone on this board justify closing loopholes that hard working middle class people need to keep their existence?

In Romney's defense I doubt he knew what he was suggesting before proposing the outline of his tax plan. Why work out the implications when what's important is sounding good during a Republican primary?

At least I assume he didn't realize what he was proposing. Because you're correct, it's unjustifiable.

 

[Katzndogz]

How sad the real world isn't all simple black and white and you all can't just stick to some dishonest script where OMG it's such a big shocker that Romney intends to lead as POTUS with his OWN plan...


“Gov. Romney applauds Paul Ryan for going in the right direction with his budget, and as president he will be putting together his own plan for cutting the deficit and putting the budget on a path to balance.”

Okay lets go with that. If not for his budgetary savvy, why then do you think the Governor would have picked Ryan? Twelve years spent representing Wisconsin? Surely it was the budget and nothing else...perhaps you can tell us what other talents the Congressman brings to the table that others did not.

Our current admin doesn't know WTF a budget looks like

Maybe that's why obama has never come up with one.

 

[initforme]

But in order to vote for him I need to know exactly if the tax savings for the upper earners is going to be paid for by people like my daughter who earns $35,000 a year which to me is nowhere near a living wage and her employer should be dreadfully embarassed by it. Now if she has to pay a couple grand more a year how is she supposed to buy the necessities she needs? I'm sniffing the wealthy laughing all the way to the bank at her expense. This has thrown a wrench into everything.

 

[initforme]

"Maybe that's why obama has never come up with one. "

I would like a balanced budget too. But you cannot justify having middle class people paying higher taxes to do it. Im fine with some cuts. Start with dept of transportation and the military. Cut those bloated budgets.

 

[C_Clayton_Jones]

Oh lord, the let down is going to be so terrible for these people who somehow think Ryan is an asset to the Romney campaign. Today they are flying high, enough to actually feel optimistic, but within a week it will be all too plain that Ryan was a terrible move and a preview of just how badly Romney would pick his cabinet and various other appointments.

Not to mention that those ‘flying high’ were going to vote for Romney anyway, forgetting the fact Romney needs a significant number of democrats to vote for him to win. Republicans aren’t the only ones allowed to vote this November (not that they haven’t tried…).

Sooo, if Paul "Ayn Rand" Ryan's budget isn't an asset to Romney - what does Ryan bring to the party?

Republicans. (Maybe).

 

[hortysir]

But in order to vote for him I need to know exactly if the tax savings for the upper earners is going to be paid for by people like my daughter who earns $35,000 a year which to me is nowhere near a living wage and her employer should be dreadfully embarassed by it. Now if she has to pay a couple grand more a year how is she supposed to buy the necessities she needs? I'm sniffing the wealthy laughing all the way to the bank at her expense. This has thrown a wrench into everything.

Almost $3,000 a month isn't a living wage?

Where do you live? Hawaii?

 

[Lakhota]

Paul Ryan Budget Would Slash Romney's Taxes Almost To ZERO

By Alec MacGillis

Already, there is a curious bit of conventional wisdom taking hold that Mitt Romney's choice of Paul Ryan is shrewd because it will draw attention from Romney's ever-more apparent weaknesses, notably the more rapacious elements of his work at Bain Capital and his undisclosed tax returns. Sorry, but this makes no sense. It seems hard to imagine a running mate who would jibe better with the Democrats' Bain Capital attacks than a well-born Ayn Rand acolyte. More crucially, it is hard to imagine a running mate who will draw more attention to the matter of Romney's taxes than Paul Ryan. Why? Because under the "Ryan plan" that made the congressman famous, Mitt Romney would pay zero taxes.

Don't believe it? Romney himself said so, just a few months ago. The Ryan plan -- formally, the "Roadmap for America's Future" -- "promotes saving by eliminating taxes on interest, capital gains, and dividends; also eliminates the death tax." Mitt Romney's income -- more than $20 million each of the past two years -- comes almost entirely from capital gains on his investments, or from "carried interest," a cut of Bain Capital profits that are taxed as capital gains (the infamous "hedge fund loophole.") His only major ordinary income was from the speaking fees he collected ($374,000, or "not much," as he put it.) This explains why his tax rate was only 13.9 percent last year -- because the capital gains rate is 15 percent, well below the top rate of 35 percent for ordinary income.

More: How Ryan Makes Romney's Tax Problem Even Worse: Zeroing Out The Capital Gains Tax | The New Republic

 

[Lakhota]

Romney Campaign Doubles Down: He 'Would Have Signed' The Ryan Budget | ThinkProgress

Conservatives Try To Paint Radical Ryan Budget As A Moderate Proposal | ThinkProgress

Fox News Pundits Wonder If Republicans Can Defend 'Tax Cuts For The Wealthy' With Ryan On The Ticket | ThinkProgress

Paul Ryan's History On Welfare Undermines Romney's Attack On Obama | ThinkProgress

 

[ABikerSailor]

But in order to vote for him I need to know exactly if the tax savings for the upper earners is going to be paid for by people like my daughter who earns $35,000 a year which to me is nowhere near a living wage and her employer should be dreadfully embarassed by it. Now if she has to pay a couple grand more a year how is she supposed to buy the necessities she needs? I'm sniffing the wealthy laughing all the way to the bank at her expense. This has thrown a wrench into everything.

According to the Government Budget Office, someone in the 35,000/yr range will see their taxes increase by around 1500/yr.

 

[hortysir]

Paul Ryan Budget Would Slash Romney's Taxes Almost To ZERO

By Alec MacGillis

Already, there is a curious bit of conventional wisdom taking hold that Mitt Romney's choice of Paul Ryan is shrewd because it will draw attention from Romney's ever-more apparent weaknesses, notably the more rapacious elements of his work at Bain Capital and his undisclosed tax returns. Sorry, but this makes no sense. It seems hard to imagine a running mate who would jibe better with the Democrats' Bain Capital attacks than a well-born Ayn Rand acolyte. More crucially, it is hard to imagine a running mate who will draw more attention to the matter of Romney's taxes than Paul Ryan. Why? Because under the "Ryan plan" that made the congressman famous, Mitt Romney would pay zero taxes.

Don't believe it? Romney himself said so, just a few months ago. The Ryan plan -- formally, the "Roadmap for America's Future" -- "promotes saving by eliminating taxes on interest, capital gains, and dividends; also eliminates the death tax." Mitt Romney's income -- more than $20 million each of the past two years -- comes almost entirely from capital gains on his investments, or from "carried interest," a cut of Bain Capital profits that are taxed as capital gains (the infamous "hedge fund loophole.") His only major ordinary income was from the speaking fees he collected ($374,000, or "not much," as he put it.) This explains why his tax rate was only 13.9 percent last year -- because the capital gains rate is 15 percent, well below the top rate of 35 percent for ordinary income.

More: How Ryan Makes Romney's Tax Problem Even Worse: Zeroing Out The Capital Gains Tax | The New Republic

A blog that doesn't source it's data?


Why am I not surprised?

 

[Dr.House]

Romney Campaign Doubles Down: He 'Would Have Signed' The Ryan Budget | ThinkProgress

Conservatives Try To Paint Radical Ryan Budget As A Moderate Proposal | ThinkProgress

Fox News Pundits Wonder If Republicans Can Defend 'Tax Cuts For The Wealthy' With Ryan On The Ticket | ThinkProgress

Paul Ryan's History On Welfare Undermines Romney's Attack On Obama | ThinkProgress

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