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Do you understand that if his tax plan is passed, you will lose part of your Mortgage, Child Care, Student Loan, etc. deductions?
In his statement about his tax plan, he mentioned that you will put those deductions in a bucket with a dollar cap on it.
In fairness, we don't know what he will do. He won't say. He won't tell what deductions he will cut. If you are to believe that it will only be high earners...then his math is sketchy, because that won't cover all the revenue he intends on cutting for high earners and increase in military spending.
"Whats clear to me is that Mitt is UNCLEAR on what he would do"
May because you are used to Obama and the dems have done dictating what the fed gov't will and won't do.
Romney has been VERY clear and stated MANY times he will work WITH CONGRESS to come up with the exact details, as our Congress is supposed to work, just as Reagan did with Moynahan and the dem controlled Congress.
Maybe you could write a grammatically correct sentence? Every time someone disagrees with Romney, doesnt make that person an Obama supporter. Romney has NOT been clear, thats the problem. He has not been clear on anything other than a 20% across the board cut. He can put forth ideas and then work them out with Congress. But for him and Ryan to tell us, "dont worry about the details", is patronizing and paternalistic.
And for the record, please dont insult Reagan by comparing him to Romney.
What is it with you guys and Bush? What does he have to do with this discussion? NOTHING. Quit deflecting whenever you read something you don't like. Face reality for once. Sheesh!
BTW, I voted Libertarian in '00 and '04, so you can take your attitude and stuff it. I'm against ALL excessive spending - and there's a hell of a lot of it going on right now. I don't care what letter is next to the President's name. If you want to argue Bush's spending, find yourself a time machine. The adults have moved on to current events.
What is it with you guys and Bush? What does he have to do with this discussion? NOTHING. Quit deflecting whenever you read something you don't like. Face reality for once. Sheesh!
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I'm still bummed about Wilson getting us into WW1...
In fairness, we don't know what he will do. He won't say. He won't tell what deductions he will cut. If you are to believe that it will only be high earners...then his math is sketchy, because that won't cover all the revenue he intends on cutting for high earners and increase in military spending.
And as Shakespeare wrote "therein lies the rub." Romney either can't or won't be specific. Worst case? The tax "cut" the middle class gets will be cancelled out by the reduced deductions.
Romney has not been up front on just how he's going to fund the tax cuts. Which makes me thinkl that it will not just affect the high earners, it will affect the votes he's going for, the middle class
IMHO, he has been deliberately vague on the subject, and that's a glaring red flag
Do you think it's the decision of the POTUS exactly which tax cuts will happen or exactly how much the cap might be? Romney has explained many times that he will work with Congress in a bi-partisan way to work out the details and he has said time and again that his goal is to make sure the middle class gets a tax cut, not a tax hike. Why be so suspicious of him when Obama has already proven himself to be a liar and deceiver by allowing the highest tax hike to the middle class in the history of America?
Do you think it's the decision of the POTUS exactly which tax cuts will happen or exactly how much the cap might be? Romney has explained many times that he will work with Congress in a bi-partisan way to work out the details and he has said time and again that his goal is to make sure the middle class gets a tax cut, not a tax hike. Why be so suspicious of him when Obama has already proven himself to be a liar and deceiver by allowing the highest tax hike to the middle class in the history of America?
First line of my OP:
Do you understand that if his tax plan is passed, you will lose part of your Mortgage, Child Care, Student Loan, etc. deductions?
Reading comp 101. My question to you is why aren't you asking him this question?
Comprehend this: Your first sentence is an Obama campaign talking point. That's it.
Why aren't you asking Obama why he continues to lie?
No, it isn't. It's clear and concise, and not gleaned from an Obama talking point. It was a result of Romney's statements at the 2nd debate. Let me make it easy fior yiou. The Governor said:
And so, in terms of bringing down deductions, one way of doing that would be say everybody gets -- I'll pick a number -- $25,000 of deductions and credits, and you can decide which ones to use. Your home mortgage interest deduction, charity, child tax credit, and so forth, you can use those as part of filling that bucket, if you will, of deductions.
But your rate comes down and the burden also comes down on you for one more reason, and that is every middle-income taxpayer no longer will pay any tax on interest, dividends or capital gains. No tax on your savings. That makes life a lot easier.
The operative word, here, is EVERYBODY.
IF PASSED, it will limit the dollar amount of deductions you can take. And the worst case scenario here is that the reduction in tax rate for the middle class will be cancelled out by the dollar cap in deductions, or the dollar cap in reductions will result in an increased tax rate for the middle class.
And I never said I will vote for Obama, that's something you assumed...wrongly.
Again, what taxes are you talking about?
Last edited by carterstamp; 10-18-2012 at 05:53 AM..
I am not sure what part is unclear. Mitt Romney said that he would cap the deductions at 25k. That cap is very easy to to hit, without being a "high income earner". If you live in a location, such as Jersey, heck you hit 25k just on your property, state, local taxes alone.
So there are a lot of folks that earn 6 figures, between 100-400k or so, that easily surpass over 25k in deductions, and they would be SCREWED with Romneys tax plan.
Those same people would see a dramatic reduction in income tax paid.
Those same people would see their investment earnings grow because of capital gains reduction.
A mind is a terrible thing to waste.
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