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The cuts are obviously the kind where you take one dollar out of one pocket, put it in the other pocket and then remove two more dollars out of the other guys pocket and put it in the first pocket.
They need to cut the loop-holes, and other tax hand-outs. Seriously. Even the GOP (even Romney)has agreed to that. However, I won't be surprised if they oppose their own idea and call them "tax increases".
Seriously? We've been running north of 1 trillion in deficits every year for the last four years running and their plan involves cutting 975 billion over 10 years? And to get that we need to pay an equal amount in new taxes?
Even after getting the tax cuts to expire they want nearly 100 billion dollars more in taxes every year? We borrowed more last year alone than they plan to cut in the entire next decade?
These are the people you liberals think are great leaders for our nation?
Was Reagan a liberal? He removed loop-holes, subsidies and tax hand-outs, which is what is being proposed here? Is GOP liberal? They have suggested the same? Was Romney a liberal? He wanted the same? Is Ron Paul liberal? He wanted to do it? Paul Ryan? He wants to get rid of them, but only under his own plan. What a hack.
Who does NOT want to cut these socialst hand outs? The CD hacks like you, who think it is a conservative thing to support them. It's the opposite of being conservative, but in your hast to repeat the party line, you don't realize you have been tricked into supporting socialism.
Eliminating the benefits for some in the tax code is a good thing. Eliminating them and still coming up with a budget that doesn't start to eliminate the debt isn't.
They need to cut the loop-holes, and other tax hand-outs. Seriously. Even the GOP (even Romney)has agreed to that. However, I won't be surprised if they oppose their own idea and call them "tax increases".
Last year, Ryan proposed to cut the top individual and corporate income tax rates from 35 to 25 percent, to cut other tax rates, and to eliminate the Alternative Minimum Tax (AMT). At the time, the Tax Policy Center estimated that these tax cuts would cost more than $4 trillion over ten years. Since last year, however, the American Taxpayer Relief Act has returned the top individual tax rate to 39.6 percent, adding at least another $400 billion to the cost now of cutting the top individual tax rate to Ryan’s goal of 25 percent. Yet, the Ryan budget says that, somehow, the large cost of cutting the top rate to this level, cutting other rates as well, and eliminating the AMT would add nothing to the deficit. In essence, it uses a huge magic asterisk, assuming policymakers will finance the entire cost of cutting tax rates and eliminating the AMT by curbing tax expenditures — without identifying a single tax expenditure to narrow or close.
Governor Romney adopted a similar approach in his presidential campaign, arguing that he would use unspecified tax expenditure savings to offset the cost of cutting the top income tax rate from 35 percent to 28 percent, or by 7 percentage points. Analysis by the Tax Policy Center indicated that Romney could not do that without raising taxes on middle class and working poor Americans. Yet now, Ryan proposes to cut the top rate by as much as 14.6 percentage points, or more than twice as much as Romney proposed, while still claiming to finance it through tax expenditure reforms that policymakers would identify later.
people like you voting is the root of our country's problems.
The root of our country's problems is middle class Americans who will repeatedly buy the conservative flim-flam nonsense created by right-wing think tanks funded by billionaire plutocrats, and then vote for the Republican Party that is less likely to protect their safety, less likely to protect their jobs, and less likely to benefit them economically.
I don't think they have named them, they just say they want to cut them. Well, they say it when it is politically convenient. Now that the opposing party says the same thing, they pretend to be outraged and call them "tax hikes".
This one alone would make a $172 billion difference in 5 years.
Deferral of Income from Controlled Foreign Corporations
5-yr Cost to Government: $172.1 billion Who benefits: Every multinational company.
Multinational companies can defer paying U.S. income taxes until they transfer overseas profits back to the United States, under this law. In practice, many companies leave much of their profits overseas indefinitely, thus paying only the tax in the relevant foreign country, which is likely far lower than the U.S. rate, and avoiding U.S. taxes permanently. The list of corporations enlisting this loophole is seemingly endless.
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