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Romney has claimed that he will pay for his tax cuts by closing a variety of loopholes and deductions. The factual problem? Romney hasn't named a single loophole he's willing to close; worse, there's no way to offset $5 trillion in tax cuts even if you get rid of the entire universe of deductions for the wealthy that Romney has not put off the table (like the carried interest loophole or the 15 percent capital gains rate.)
The flaw in your thinking is highlighted in bold. You cannot state with certainty that reducing tax RATES will result in reduced revenue. Often, the exact opposite occurs.
Romney need not specify which loopholes will be cut, if for no other reason than Congress gets to have input on the subject. But more importantly, you cannot state with certainty which direction tax revenues will go following a change in the tax rates or loopholes. In other words, he may not have to "pay for his tax cuts" at all because revenue may actual increase following a tax cut.
Romney believes cutting tax rates and eliminating loopholes will boost the economy and therefore will result in more tax revenue, despite the lower rates. While he has plenty of historical evidence to support that position (as well as Dr Laffer), you are free to disagree. However, that does NOT mean Romney lied.
Romney has claimed that he will pay for his tax cuts by closing a variety of loopholes and deductions. The factual problem? Romney hasn't named a single loophole he's willing to close; worse, there's no way to offset $5 trillion in tax cuts even if you get rid of the entire universe of deductions for the wealthy that Romney has not put off the table (like the carried interest loophole or the 15 percent capital gains rate.)
The flaw in your thinking is highlighted in bold. You cannot state with certainty that reducing tax RATES will result in reduced revenue. Often, the exact opposite occurs.
Romney need not specify which loopholes will be cut, if for no other reason than Congress gets to have input on the subject. But more importantly, you cannot state with certainty which direction tax revenues will go following a change in the tax rates or loopholes. In other words, he may not have to "pay for his tax cuts" at all because revenue may actual increase following a tax cut.
Romney believes cutting tax rates and eliminating loopholes will boost the economy and therefore will result in more tax revenue, despite the lower rates. While he has plenty of historical evidence to support that position (as well as Dr Laffer), you are free to disagree. However, that does NOT mean Romney lied.
What I highlighted is the opinion of The Tax Policy Center and it makes sense to me. They have also said that his math doesn't add up. When you say that Congress gets to have input, so what?? They will probably be completely deadlocked, as usual!!
Romney must know all this, doesn't he?? So he is being less than honest. I think he knows it doesn't add up.
The flaw in your thinking is highlighted in bold. You cannot state with certainty that reducing tax RATES will result in reduced revenue. Often, the exact opposite occurs.
Romney need not specify which loopholes will be cut, if for no other reason than Congress gets to have input on the subject. But more importantly, you cannot state with certainty which direction tax revenues will go following a change in the tax rates or loopholes. In other words, he may not have to "pay for his tax cuts" at all because revenue may actual increase following a tax cut.
Romney believes cutting tax rates and eliminating loopholes will boost the economy and therefore will result in more tax revenue, despite the lower rates. While he has plenty of historical evidence to support that position (as well as Dr Laffer), you are free to disagree. However, that does NOT mean Romney lied.
What I highlighted is the opinion of The Tax Policy Center and it makes sense to me. They have also said that his math doesn't add up. When you say that Congress gets to have input, so what?? They will probably be completely deadlocked, as usual!!
Romney must know all this, doesn't he?? So he is being less than honest. I think he knows it doesn't add up.
You are free to agree with the TPC. Many would not...particularly Dr Art Laffer who demonstrated how tax revenues tend to increase following tax rate decreases in his famous Laffer curve.
Romney understands what you and the TPC believe, that revenues go down following a tax rate decrease. He just disagrees with the forecast.
Romney believes in the Laffer curve and that his tax rate cuts will not result in less revenues and perhaps more. This is ESPECIALLY true if he also eliminates loopholes. History tends to support Romney's (and Laffer's) estimates. That said, it's not an exact science and it is possible revenues will go down following his tax rate decrease. It really depends on the state of the economy.
Again, you can disagree with Romney and Laffer's expectations, but the point is that there is no way you can call them "lies". A disagreement, sure, but not a lie.
I'm still looking for an actual lie uttered by Romney in the debate.
What I highlighted is the opinion of The Tax Policy Center and it makes sense to me. They have also said that his math doesn't add up. When you say that Congress gets to have input, so what?? They will probably be completely deadlocked, as usual!!
Romney must know all this, doesn't he?? So he is being less than honest. I think he knows it doesn't add up.
You are free to agree with the TPC. Many would not...particularly Dr Art Laffer who demonstrated how tax revenues tend to increase following tax rate decreases in his famous Laffer curve.
Romney understands what you and the TPC believe, that revenues go down following a tax rate decrease. He just disagrees with the forecast.
Romney believes in the Laffer curve and that his tax rate cuts will not result in less revenues and perhaps more. This is ESPECIALLY true if he also eliminates loopholes. History tends to support Romney's (and Laffer's) estimates. That said, it's not an exact science and it is possible revenues will go down following his tax rate decrease. It really depends on the state of the economy.
Again, you can disagree with Romney and Laffer's expectations, but the point is that there is no way you can call them "lies". A disagreement, sure, but not a lie.
I'm still looking for an actual lie uttered by Romney in the debate.
We will just have to agree to disagree. Thanks for your civility.
You are free to agree with the TPC. Many would not...particularly Dr Art Laffer who demonstrated how tax revenues tend to increase following tax rate decreases in his famous Laffer curve.
Romney understands what you and the TPC believe, that revenues go down following a tax rate decrease. He just disagrees with the forecast.
Romney believes in the Laffer curve and that his tax rate cuts will not result in less revenues and perhaps more. This is ESPECIALLY true if he also eliminates loopholes. History tends to support Romney's (and Laffer's) estimates. That said, it's not an exact science and it is possible revenues will go down following his tax rate decrease. It really depends on the state of the economy.
Again, you can disagree with Romney and Laffer's expectations, but the point is that there is no way you can call them "lies". A disagreement, sure, but not a lie.
I'm still looking for an actual lie uttered by Romney in the debate.
We will just have to agree to disagree. Thanks for your civility.
Thank you!
Time will tell which one of us is correct...me/Romney/Laffer or you/Obama/TPC. The tax rates are going to change next year, one way or the other. When we see what happens to the actual revenue generated after the rates changes, we'll know.
Let's check back in 9-12 months...
Axelrod: Romney
Axelrod said Romney was dishonest during the debate, pointing to a contentious charge Obama waged Wednesday evening about his opponents tax plan involving $5 trillion in cuts for the wealthy - a claim CNN has rated as false.
When he said he never proposed $5 trillion in tax cuts, that was dishonest, said Axelrod, stopping short of saying the Republican challenger lied during the debate. I'm saying that he was dishonest in his answers. You can characterize that any way you want.
I guess Obama didn't exspect a devote Mormon to brazenly lie like Mitt did. That was after he pulled the notes from his pocket, which was againsr debate rules. God cannot be happy with Mitt...
It's too bad we have a President who is disengaged from the budgetary process that needs his office to shape what will be spent where. That's the regular way other businesses do it.Whaaa, sniff sniff, the president's top advisor said Romney was cheating in the debate. You almost gotta laugh if the administration wasn't so criminally stupid. How could whiny lefties accuse Romney of "brazenness"? He was polite and responded to every point. The radical left is so confused and fragmented that they don't even understand that their own candidate failed them. The reasons promoted by the left range from hysterical to absurd. Al Gore said it was the altitude. Some other leftie said Obama was accidentally overdosed in his prescription medicine intended to keep him in a constant state of "no-drama-Obama". The point that the left needs to have pushed in their face is that Obama has no agenda that he can defend.
Step away from your meth lab...If you persist, everyone will know you are a liar.....oh, wait.....they already do.No, he did not. Disagreeing ideologically is NOT a lie. The context and discussion are centered on the 5 trillion dollars in tax cuts claimed by the Liar-in-Chief. Romney never said he would cut taxes by 5 trillion dollars, and the plan he has set out, shows he has not. Obama, on the other hand, is known quiet famously for his lies.
Oh, yes he did!!! If you persist in this it is either one of 2 things. Either YOU are lying or you have not been following this campaign. Everything Romney said in the debate was totally different from what he has said on the campaign trail. Believe it.
Your post is a fairytale.
How would you even know what Romney said on the Campaign trail? It hasn't been shown anywhere by the lame stream media.
