Question about Romney's tax plan

[_Kevin Graham]

The 20% tax cut for everyone is essentially a tax increase for the middle and poorer classes which is why Romney's plan needs to be exposed for what it really is. A gimmick that helps the wealthy pay less in taxes. He gets to raise taxes on everyone else by claiming he is cutting tax rates.

Romney already stated his firm belief that half the country doesn't pay income taxes. Yet he wants to give them a 20% tax cut? What's 20% of zero?

Zero!

The only reason so many poorer/middle class people pay no income taxes is because of the deductions, which Romney says he'll remove comcompletely. So the result? A family of four making $50,000 under Obama pays no income taxes thanks to deductions. That same family under Romney would pay the original tax rate at a 20% cut without deductions. So under Romney everyo e pays more except the wealthy! Just like Obama has been saying.

[_beastie]

Here's what Romney said on Wolf Blizter:

“The president’s charge of a $5 trillion tax cut is, obviously, inaccurate and wrong, because what he says is, ‘look at all the rates you’re lowering,’ and then he ignores the fact that we’re also going to limit deductions, credits and exemptions. He ignores that part. Obviously, that was corrected by his deputy campaign manager who said that she stipulated that, in fact, the five trillion number was wrong, it’s completely wrong, the combination of limiting deductions and credits and exemptions, as well as growth of our economy, will make up for the reduction in rate.”

http://www.mediaite.com/tv/romney-to-wo ... ogressive/

This drives me crazy. Here's the actual exchange with Cutter:

BURNETT: Stephanie, let me ask you about that. Because here at CNN, we fact checked that, that $5 trillion in tax cuts and we’ve come and said that’s not true. Mitt Romney has not promised that. because he’s also going to be closing loopholes and deductions. So his tax cut wouldn’t be anywhere near that size.

CUTTER: So you’re disputing the size of the tax cut? Or are you disputing also how he’s going to pay for it?

BURNETT: We’re disputing the size.

CUTTER: Erin, he has campaigned on lowering tax rates by 20% for everybody, including those in the top 1%. that was one of the main selling points in the Republican primary.

BURNETT: So you’re saying if you lower them by 20% you get a $5 trillion tab, right?

CUTTER: It’s a $5 trillion tab.

BURNETT: But when he closes deductions he won’t be anywhere near $5 trillion. That’s our analysis.

CUTTER: Well with, okay, stipulated, it won’t be near $5 trillion, but it’s also not going to be the sum of $5 trillion in the loopholes that he’s going to close.

http://townhall.com/tipsheet/guybenson/ ... s_tax_plan

This is ridiculous. Burnett specifically asks if they were disputing the SIZE or HOW THEY WERE GOING TO BE PAID FOR. Cutter clearly answers the SIZE. And the SIZE is... drumroll... five trillion dollars. The Burnett goes on to debate HOW THEY WERE GOING TO BE PAID FOR, after Cutter said it's the SIZE they're disputing.

This whole charge that Cutter admitted Obama lied is baloney.

This is what I've been saying all along. There's a difference between how much TAX CUT Romney plans, and HOW IT WILL (supposedly, har har) be PAID FOR. The two issues are being conflated - I think deliberately - by the Romney camp in order to make it appear like Obama lied when he did not.

Romney does plan a five trillion dollar tax cut. He claims it will be paid for, without specifying anything other than PBS as a target, which is the silliest thing I've ever heard.

And, by the way, in the same Blitzer interview he says he's not going to touch mortgage or charitable deductions. WTF?

[_Bob Loblaw]

Here's what Romney said on Wolf Blizter:

This is ridiculous. Burnett specifically asks if they were disputing the SIZE or HOW THEY WERE GOING TO BE PAID FOR. Cutter clearly answers the SIZE. And the SIZE is... drumroll... five trillion dollars. The Burnett goes on to debate HOW THEY WERE GOING TO BE PAID FOR, after Cutter said it's the SIZE they're disputing.

This whole charge that Cutter admitted Obama lied is baloney.

This is what I've been saying all along. There's a difference between how much TAX CUT Romney plans, and HOW IT WILL (supposedly, har har) be PAID FOR. The two issues are being conflated - I think deliberately - by the Romney camp in order to make it appear like Obama lied when he did not.

Romney does plan a five trillion dollar tax cut. He claims it will be paid for, without specifying anything other than PBS as a target, which is the silliest thing I've ever heard.

And, by the way, in the same Blitzer interview he says he's not going to touch mortgage or charitable deductions. WTF?

One Brookings Institution study says $5.1 trillion. I've seen estimates all over the place from 1.8 trillion to 3.6 trillion (and yes, that is the amount of the straight rate cut, without any elimination of deductions and loopholes. The point is that the GOP doesn't accept the 5.1 trillion, and no matter what Stephanie cutter meant, she gift-wrapped a soundbite, just like when Romney said he likes to fire people.

What drives me crazy is that Obama claims 5.1 trillion, Romney says he hasn't proposed that (because that's what GOP analysis shows), and that proves Romney is a lying sack of crap. I really hate the level of discourse we've been reduced to.

[_beastie]

One Brookings Institution study says $5.1 trillion. I've seen estimates all over the place from 1.8 trillion to 3.6 trillion (and yes, that is the amount of the straight rate cut, without any elimination of deductions and loopholes. The point is that the GOP doesn't accept the 5.1 trillion, and no matter what Stephanie cutter meant, she gift-wrapped a soundbite, just like when Romney said he likes to fire people.

What drives me crazy is that Obama claims 5.1 trillion, Romney says he hasn't proposed that (because that's what GOP analysis shows), and that proves Romney is a lying sack of s***. I really hate the level of discourse we've been reduced to.

Romney was deceptive because he acted like he had no idea where the 5 trillion number came from, as if Obama pulled it out from thin air. It would have been more honest had he clarified that while his plan does include a hefty tax cut, he plans to cover the loss with elimination of deductions, etc (har har) so there won't be any loss in REVENUE.