NC_Skins
09-06-2012, 06:59 PM
Bottom line about Romney's tax plan is that he's lying and the numbers dont' add up. He can't keep all the promises that he says in his tax plan and it work out.
PolitiFact | Mitt Romney's plan would cut taxes for millionaires while raising them for the middle class, says Martin O'Malley (http://www.politifact.com/truth-o-meter/statements/2012/sep/05/martin-omalley/mitt-romneys-plan-would-cut-taxes-millionaires-whi/)
The Tax Policy Center had to choose on its own what exemptions and deductions to get rid of, but the analysts tried to select the ones that most conformed to the principles Romney has outlined. (The Tax Policy Center refers to them as "tax preferences.")
Still, the math didn’t work. If the tax plan is to generate the same amount of revenue and offer across-the-board tax cuts, some exemptions for the middle class would go away. "As a result, a revenue-neutral reform within these constraints would cut taxes at the high-end while raising them in the middle and perhaps bottom," wrote Donald Marron, the center’s director, in a blog post about the study.
But Romney’s tax plan is vague and doesn’t appear to be able to keep all its promises. Romney has said he wants to eliminate deductions while cutting tax rates for everyone; bring in the same amount of revenue for the government; keep a higher burden on the wealthy; and keep low rates on savings and investments. A credible, independent analysis shows these goals are in tension with each other and don’t add up. The Romney campaign has repeatedly declined to offer more specifics.
Doesn't take a genius to realize his tax plan is full of shit. Pretty much like he is as a candidate.
PolitiFact | Mitt Romney's plan would cut taxes for millionaires while raising them for the middle class, says Martin O'Malley (http://www.politifact.com/truth-o-meter/statements/2012/sep/05/martin-omalley/mitt-romneys-plan-would-cut-taxes-millionaires-whi/)
The Tax Policy Center had to choose on its own what exemptions and deductions to get rid of, but the analysts tried to select the ones that most conformed to the principles Romney has outlined. (The Tax Policy Center refers to them as "tax preferences.")
Still, the math didn’t work. If the tax plan is to generate the same amount of revenue and offer across-the-board tax cuts, some exemptions for the middle class would go away. "As a result, a revenue-neutral reform within these constraints would cut taxes at the high-end while raising them in the middle and perhaps bottom," wrote Donald Marron, the center’s director, in a blog post about the study.
But Romney’s tax plan is vague and doesn’t appear to be able to keep all its promises. Romney has said he wants to eliminate deductions while cutting tax rates for everyone; bring in the same amount of revenue for the government; keep a higher burden on the wealthy; and keep low rates on savings and investments. A credible, independent analysis shows these goals are in tension with each other and don’t add up. The Romney campaign has repeatedly declined to offer more specifics.
Doesn't take a genius to realize his tax plan is full of shit. Pretty much like he is as a candidate.