Mitt Romneys tax plan for America

[cubby1223]

You're being rather too kind here. What he's done is ask us to assume that we all live in the land of sugar plum fairies...And not only will this not increase the deficit, it will actually reduce it! How? Well, we can't discuss it in any further detail, because its magic. It's the special super secret recipe, and if he told us, he'd have to kill us.

Ah, Romney is "pulling an Obamacare" in his budget scoring.

 

[Jhhnn]

Precisely, and he conveniently leaves out how he will do it.

Of course. This is pretty much the same sort of pitch used in his previous incarnation as a PE manager, puffing up his managerial expertise, promising fabulous returns to investors for buying bonds in his target companies, paying himself special dividends, stepping out of the way before it all falls down.

Middle class people should expect the same sort of treatment, if they listen carefully at all. He isn't saying he'll drive *you* home, but rather that he'll drive *it* home. There is a difference.

Rich people need a tax cut why, precisely? So that they can not create more American jobs, but rather hoard more liquidity when they're not offshoring their money as fast as possible?

I guess that's just what you do when you "Believe in America", huh?

 

[MooseNSquirrel]

YOu can critique the financial forecasts if you wish cuddy, but Romney's ecnonomic plan is a cliff notes version of a subway grafiti when it comes to details.

Obama's health reform had plenty of details.

 

[Matt1970]

Romney's ecnonomic plan is a cliff notes version of a subway grafiti when it comes to details.

Right, so that's why everyone is so sure it will raise taxes on the middle class?

 

[silverpig]

Data shows different.

I love the meteoric drop in rates right when they switch data sources

 

[berzerker60]

Data shows different.

In the plan we're discussing, I meant, not in reality.

Right, so that's why everyone is so sure it will raise taxes on the middle class?

It's basically a political-speak way of pointing out the lack of details. More precisely, we should all be saying, "Either Romney's plan will dramatically increase the deficit and debt, OR he's misstated where the additional revenue will come from, OR it's going to raise taxes on the middle class." The most likely of those honestly is the first one in my opinion, but if we take him at his word, only #3 remains, because he explicitly says it's revenue neutral (or better).

"America’s individual tax code applies relatively high marginal tax rates on a narrow tax base."

Just to be clear, I'd be thrilled at the prospect of broadening the tax base if it came about by broadening the wage base. Stunning charts: http://www.economist.com/blogs/dailychart/2011/10/income-inequality-america
http://www.businessinsider.com/15-charts-about-wealth-and-inequality-in-america-2010-4?op=1

That's a difficult thing to achieve by government action without messing up more than it fixes, though, and progressive taxation and a strong estate tax to fund programs that inject money into lower-and-middle-income homes are the best of a lot of bad options that I see. A minimum wage bump would be a great idea once the economy's recovered, but would be a bad idea with this unemployment.

 

[Lithium381]

i know i'm not voting for obama but if the details of this are as they claim in the OP, i might not vote for romney either.

 

[MooseNSquirrel]

Right, so that's why everyone is so sure it will raise taxes on the middle class?

One study tried its best using what I assume are sound methods based on his claim of revenue neutrality.

We are discussing the conclusions of that study.

Where did that "everybody" come from?

 

[umbrella39]

i know i'm not voting for obama but if the details of this are as they claim in the OP, i might not vote for romney either.

This

 

[sportage]

It just occurred to me. Not only is Mitt a draft dogger, he a tax dogger.
Hell yeah... Let's elect him president!

 

[trenchfoot]

It just occurred to me. Not only is Mitt a draft dogger, he a tax dogger.
Hell yeah... Let's elect him president!

Hell yeah. And for starters, let's nationalize the oil, banking, insurance and health industries and let Romney utilize his intellectual acumen in the business world to make the USA obscenely profitable like he did with his businesses in the private sector. Let's put his talents to good use for the betterment of all the people, instead of just himself and his pals in the top 1%. Imagine how stellar our infrastructure would be. Imagine how well armed and trained our military would be. We would be energy self-sufficient. We would be the envy of the whole world......again.

*Damn, I just woke up and realized I was sleep-typing this post. Oh well.* j/k

 

[Doppel]

It's pretty clear that regardless of who wins this year we'll suffer another 4 years of poor leadership.

 

[Pr0d1gy]

It's pretty clear that regardless of who wins this year we'll suffer another 4 years of poor leadership.

I'm not so sure man, I mean yeah we all have issues with one or the other or both; but you have to admire the excellent job our leaders have done leading us through this past decade....which has seen massive troubles across the world. I know I am better off than I was 10 years ago.

 

[blankslate]

And what is Obama doing for us at present?

Slowly adding more jobs despite Republican obstruction. Maybe if the Republicans did something besides smack President Obama in the face every time he reached across the aisle things would be better....