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CNN REPORTS ON ROMNEY'S TAX PLAN
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Government & Elections
CNN REPORTS ON ROMNEY'S TAX PLAN
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CNN reports that Romney's tax plan will provide large tax cuts to the very wealthy, while increasing the tax burden on the lower and middle classes. This is based on a study at
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Cat:d51398b3-89f9-463d-bf1b-4b885f02c9eeForum:af978875-5bc6-4b07-a6fb-b18062132f95
Cat:d51398b3-89f9-463d-bf1b-4b885f02c9eeForum:af978875-5bc6-4b07-a6fb-b18062132f95Discussion:5598e072-adb3-4057-95e6-695d34252ec2
Forums » Politics & Society » Government & Elections » CNN REPORTS ON ROMNEY'S TAX PLAN
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CNN REPORTS ON ROMNEY'S TAX PLAN
posted at September 7, 2012 2:47 PM EDT
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Posts: 585
First: May 28, 2012 Last: May 15, 2013 |
CNN reports that Romney's tax plan will provide large tax cuts to the very wealthy, while increasing the tax burden on the lower and middle classes. This is based on a study at the Brookings Tax Policy Center. The study says Romney's Tax Cuts would create a $360 Billion Dollar revenue LOSS in just one year. To offset that revenue loss, we would have to CUT 65% of our programs. Such popular Tax Breaks for the middle class, such as deductions for mortgage interest and state income taxes would be eliminated to make up for the lost tax revenue. Romney has refused to give more specifics on exactly what other programs are up for dismantling. The report says the tax cuts for the wealthy is unprecedented and would require deep reductions in many popular middle class and lower class tax benefits. --------------------- THE END RESULTS -------------------------- Americans making less than $200,000 would actually have to pay $500 more in taxes, on average, which is a loss of 1.2%. Americans making more than $ 1 Million Dollars, would save $ 41,000, which is a savings of 4.1%. The Republicans talked about " Shared Sacrifices " at their Comnention. Yeah sacrifices for everybody, but the top 2%. Where is the fairness to the overwhelming majority of Americans ? I guess you can't elect a billionaire and expect him to care about or relate to the little people's struggles, even though we are 98% of America. Apparently in Romney's eyes we're the little people. Corporate CEO's and millionaires are the big people that Romney connects with and holds an allegiance to with a Tax Plan like his. |
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Re: CNN REPORTS ON ROMNEY'S TAX PLAN
posted at September 7, 2012 11:29 PM EDT
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Posts: 37
First: September 7, 2012 Last: September 25, 2012 |
Because all the specifics of the Romney tax plan have not been disclosed, the Tax Policy Center made assumptions that resulted in their analysis concluding that taxes would increase on the middle class. However, Donald Marron, the Director of the Tax Policy Center has stated that there is insufficient evidence for the harsh Democratic talking points that have evolved since the policy center released its report: "I don’t interpret (the report) as evidence that Gov. Romney wants to increase taxes on the middle class in order to cut taxes for the rich, as an Obama campaign ad claimed. Instead, I view it as showing that his plan can’t accomplish all his stated objectives. One can charitably view his plan as a combination of political signaling and the opening offer in what would, if he gets elected, become a negotiation." The article linked below provides a comparison of the proposed tax plans of both presidential candidates. Both candidates' tax plans have one big thing in common: They leave out lots of ugly details about future tax increases that most economists think are inevitable in order to keep Washington solvent. http://money.cnn.com/2012/09/07/news/economy/tax-obama-romney/?hpt=po_c2 |
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Re: CNN REPORTS ON ROMNEY'S TAX PLAN
posted at September 8, 2012 12:39 AM EDT
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Posts: 585
First: May 28, 2012 Last: May 15, 2013 |
Well isn't that just swell, Romney hasn't released ALL the specifics 2 months from the election. The reason he hasn't released the specifics is because in order to keep giving the wealthy more Tax Cuts, he is going to have to dismantle several safety net programs that our seniors, disabled and poor children rely on and that wouldn't be too smart or popular BEFORE the election. So Romney cleverly wants us to wait for specifics, so If he makes it to the Whitehouse, we are stuck with what ever he, Ryan and the always cooperative Right Wing Republican leaders in Congress come up with. Romney said he agrees with Ryan's Republican Budget for 2013, so lets just assume 98% of us are getting the shaft, because thats exactly what Ryan's budget does. Ryan's budget specifically harms everyone, but the wealthy. Romney was always good at taking things away from Americans, like our jobs to China and his profits to Swiss banks. America should trust Romney about as far as they can throw him. Response to Re: CNN REPORTS ON ROMNEY'S TAX PLAN: Because all the specifics of the Romney tax plan have not been disclosed, the Tax Policy Center made assumptions that resulted in their analysis concluding that taxes would increase on the middle class. However, Donald Marron, the Director of the Tax Policy Center has stated that there is insufficient evidence for the harsh Democratic talking points that have evolved since the policy center released its report: "I don’t interpret (the report) as evidence that Gov. Romney wants to increase taxes on the middle class in order to cut taxes for the rich, as an Obama campaign ad claimed. Instead, I view it as showing that his plan can’t accomplish all his stated objectives. One can charitably view his plan as a combination of political signaling and the opening offer in what would, if he gets elected, become a negotiation." The article linked below provides a comparison of the proposed tax plans of both presidential candidates. Both candidates' tax plans have one big thing in common: They leave out lots of ugly details about future tax increases that most economists think are inevitable in order to keep Washington solvent. http://money.cnn.com/2012/09/07/news/economy/tax-obama-romney/?hpt=po_c2
Posted by MichaelMinIL |
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Re: CNN REPORTS ON ROMNEY'S TAX PLAN
posted at September 8, 2012 6:19 PM EDT
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Posts: 37
First: September 7, 2012 Last: September 25, 2012 |
Dismantle several safety net programs? Really? And you talk about the Romney campaign's ads being full of lies. Speaking of budgets, the Democrat-controlled Senate hasn't submitted a budget, as required by law, for over three years and the President's 2013 budget did not receive a single vote from any member of the House or Senate. At least Paul Ryan and th House Republicans had the courage to pass a budget that offers a starting point to solving thie country's serious fiscal problems. In Response to Re: CNN REPORTS ON ROMNEY'S TAX PLAN: Well isn't that just swell, Romney hasn't released ALL the specifics 2 months from the election. The reason he hasn't released the specifics is because in order to keep giving the wealthy more Tax Cuts, he is going to have to dismantle several safety net programs that our seniors, disabled and poor children rely on and that wouldn't be too smart or popular BEFORE the election. So Romney cleverly wants us to wait for specifics, so If he makes it to the Whitehouse, we are stuck with what ever he, Ryan and the always cooperative Right Wing Republican leaders in Congress come up with. Romney said he agrees with Ryan's Republican Budget for 2013, so lets just assume 98% of us are getting the shaft, because thats exactly what Ryan's budget does. Ryan's budget specifically harms everyone, but the wealthy. Romney was always good at taking things away from Americans, like our jobs to China and his profits to Swiss banks. America should trust Romney about as far as they can throw him. Response to Re: CNN REPORTS ON ROMNEY'S TAX PLAN : Posted by mandm84 |
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Re: CNN REPORTS ON ROMNEY'S TAX PLAN
posted at September 9, 2012 3:06 AM EDT
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Posts: 585
First: May 28, 2012 Last: May 15, 2013 |
Yes Michael, These aren't lies, my friend. Ryan and his Healthcare Lobbyist wife want to Dismantle Medicare by cutting $200 billion from it and turn it into a voucher system. Ryan wants to cut billions of dollars in senior citizen's Medicaid, which helps pay for their Nursing Home. Ryan has been trying for years to Privatize Social Security, Ryan wants to stop our Mortgage Interest Deduction Tax Break, Ryan wants to cut spending in Education, Ryan wants to cut Food Stamps from children in poverty and the list goes on. Ryan says there isn't enough money in the budget for these things, but yes of course there is enough room for more Tax Breaks for the wealthy. So much for the Shared Sacrifice speech I heard at the RNC.Re: CNN REPORTS ON ROMNEY'S TAX PLAN: Dismantle several safety net programs? Really? And you talk about the Romney campaign's ads being full of lies. Speaking of budgets, the Democrat-controlled Senate hasn't submitted a budget, as required by law, for over three years and the President's 2013 budget did not receive a single vote from any member of the House or Senate. At least Paul Ryan and th House Republicans had the courage to pass a budget that offers a starting point to solving thie country's serious fiscal problems. In Response to Re: CNN REPORTS ON ROMNEY'S TAX PLAN : Posted by MichaelMinIL |
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Re: CNN REPORTS ON ROMNEY'S TAX PLAN
posted at September 9, 2012 7:01 AM EDT
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Posts: 12532
First: February 29, 2008 Last: May 17, 2013 |
In Response to CNN REPORTS ON ROMNEY'S TAX PLAN: CNN reports that Romney's tax plan will provide large tax cuts to the very wealthy, while increasing the tax burden on the lower and middle classes. This is based on a study at the Brookings Tax Policy Center. The study says Romney's Tax Cuts would create a $360 Billion Dollar revenue LOSS in just one year. To offset that revenue loss, we would have to CUT 65% of our programs. Such popular Tax Breaks for the middle class, such as deductions for mortgage interest and state income taxes would be eliminated to make up for the lost tax revenue. Romney has refused to give more specifics on exactly what other programs are up for dismantling. The report says the tax cuts for the wealthy is unprecedented and would require deep reductions in many popular middle class and lower class tax benefits. --------------------- THE END RESULTS -------------------------- Americans making less than $200,000 would actually have to pay $500 more in taxes, on average, which is a loss of 1.2%. Americans making more than $ 1 Million Dollars, would save $ 41,000, which is a savings of 4.1%. The Republicans talked about " Shared Sacrifices " at their Comnention. Yeah sacrifices for everybody, but the top 2%. Where is the fairness to the overwhelming majority of Americans ? I guess you can't elect a billionaire and expect him to care about or relate to the little people's struggles, even though we are 98% of America. Apparently in Romney's eyes we're the little people. Corporate CEO's and millionaires are the big people that Romney connects with and holds an allegiance to with a Tax Plan like his. Posted by mandm84 Obviously, Romney has always been for himself. He started out in life as a rich man and has ended up even richer by destroying other people's lives. If we imagine he'll be now pulling for workers or the less fortunate is an illusion. Gov of MA He charged A Fee For Being Blind. Instead of TAX he uses the "kinder " word FEE. He also proposed Imposing A Fee On The Mentally Retarded. He pulled around a low 30th in our states on employment figures. Romney directed Damon Clinical Laboratories during the time when it racked up $35,000,000 in CRIMINAL FINES for MEDICARE FRAUD, Romney, who made a fortune through investments that often ruined the lives of workers and their families , pays about 15% of his income in taxes – maybe even ZERO cause he won't disclose anything more. Hides money offshore---is that patriotic so other countries benefit by it....we don't even KNOW how much money has left this country by corporations and rich people like him. NO-heart Romney put his dog (who got sick) on top of his car for a 600 mile trip ( that should sell well to animal lovers). This is a very disappointing often quite disgusting resume for anyone who wants to represent our country. . |
Forums » Politics & Society » Government & Elections » CNN REPORTS ON ROMNEY'S TAX PLAN
