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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Steve Lokness who wrote (204439)	10/9/2012 12:24:42 PM
From: research1234	Respond to of 541684

I agree we should be discussing the details that could make Romney's assertions true. Seems to me that since Romney doesn't like the assumptions in the bipartisan study showing his 20% cut could cost $4.8T, its up to him to provide sufficient details so that the public can see how he thinks his plan could do what he says it can. In the absence of Romney details, I don't see how we can believe his assertions are plausible. The wingers have pointed to a paper by a Princeton economist, who shows Romney's plan working they way he claims, but it doesn't show who is paying more taxes when the base is broadened, so I suspect the middle and lower class would be hit. He also includes future tax revenues arising from future economic growth, i.e. trickle down economics, which isn't what the CBO uses and hence is problematic.

To: Steve Lokness who wrote (204439)	10/9/2012 1:00:51 PM
From: bentway	Read Replies (1) \| Respond to of 541684

"Specifically; If you cut rates by 20% and remove the deductions for home mortgage interest (like it should be removed) and Charitable deductions (which I also think should be removed) and change the child deductions (which should be changed) then both statements could be true" People have DONE this math, Steve, and it does not compute. There aren't enough deductions to make up for a 20% across the board tax cut. Besides, Romney's specifically stated he NOT going to remove the home mortgage interest deduction or the provision that exempts profits from the sale of a primary residence from taxes. But, Romneys said so MANY things! Who's to say he's not LYING? You CAN just believe he lying about the things you don't want to believe!

To: Steve Lokness who wrote (204439)	10/9/2012 2:03:34 PM
From: Alex MG	Respond to of 541684

Romney Frantically Figuring Out How Tax Plan Could Actually Work After Realizing He Might Win Election October 9, 2012 \| ISSUE 48•41 \| More News in Brief LEXINGTON, VA—Reacting to news Monday that his performance in last week’s domestic policy debate had significantly boosted his poll numbers and put him closer to the White House than ever before, Republican presidential nominee Mitt Romney reportedly spent the afternoon frantically trying to figure how the tax plan he has proposed could actually work. “Okay, now, think—there’s got to be a way we can make these numbers add up, there’s just gotta be,” a profusely sweating Romney reportedly told his advisers while furiously calculating how in the world he could institute an across-the-board 20 percent cut in the marginal tax rate while balancing the federal budget within a decade and giving the Pentagon $2 trillion it hasn’t even requested. “So the plan states that I can afford to lower taxes for middle-class Americans by closing loopholes and deductions, but even if I cap taxable deductions at $17,000 per family like it says here, that doesn’t even come close to paying for the cost of the $5 trillion in tax breaks, does it? Shit. Who’s got a calculator?” At press time, a visibly agitated Romney was considering calling President Barack Obama to see if he had any advice for tightening up the plan.