2016 Postmortem
Related: About this forumRomney Backs Away from his own tax plan
More flip flopping...
Responding to President Obamas description of Romneys proposal, Romney claimed: I dont have a $5 trillion tax cut. I dont have a tax cut of the scale youre talking about. I think we ought to provide tax relief to people in the middle class. But I wont reduce the share of tax paid by high-income people. Im not looking to cut massive taxes and to reduce revenues going to the government. My number one principal is, there will be no tax cut that adds to the deficit. I want to underline that no tax cut that will add to the deficit.
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Romney has run for months on a plan to lower everyones tax rates by 20 percent an amount that independent analysts have concluded will reduce revenues by $5 trillion over 10 years.
Romney has also insisted that his plan will be deficit neutral and that it wont increase taxes on the middle class. But according to the non-partisan Tax Policy Center and other analysts, Romney wont be able to make good on both of those latter promises.
According to TPC, even if Romney closes all loopholes and deductions for high-income earners, that alone will not account for all the revenue he loses because of the rate cut. Thus, to make the overall plan deficit neutral hed have to raise the tax burden on middle income Americans.
http://tpmdc.talkingpointsmemo.com/2012/10/romney-backs-away-from-own-tax-plan.php
SoapBox
(18,791 posts)Shake your Booty!
OPPS...mean, Shake your Etch-a-Sketch!!!
Shake it Mittens!!!!
I'm not so sure that I even believe you when you introduce Queen Ann, as your wife!
gkhouston
(21,642 posts)I truly cannot keep track of what Romney is supporting from one day to the next.
abumbyanyothername
(2,711 posts)<<Thus, to make the overall plan deficit neutral hed have to raise the tax burden on middle income Americans.>>
This "Thus" does not necessarily follow from the premises stated above it.
While some middle income Americans might have to make of some of the $5 Trillion in cuts, they could be making up the cuts out of their share of the cuts.
What is fair to say, is that under a rMoney plan there will be winners and there will be losers and if they won't tell us which deductions and other breaks will be eliminated it is impossible for us to know if they will be taxing you to pay for their cuts.
bushisanidiot
(8,064 posts).