Sunday, October 21, 2012



















You need to listen carefully to what Willard said.  In the last debate, he said

1. "Trickle Down" economics never worked - wonder how that is sitting with his base?

2. He clearly stated that after his tax cuts and deduction work is done, the top income bracket will continue to pay 60% of the taxes.  Sounds good ha...watch this:

·         He wants to make the Bush tax cuts permanent
·         Lower the rates 20% across the board
·         Pay for the rate reduction through the elimination of tax breaks and deductions primarily for the top tax bracket.

To make it simple let's assume the total tax bite for the nation is currently $100 annually

$100 - total current annual taxes
   .60 - the top earners currently pay 60% of the total taxes collected
$  60 - currently paid by the top earners

With Willard's plan

 $100 - total current annual taxes
-$  20 - 20% reduction in tax rates across the board
 $  80 - new post Willard tax cut total annual taxes collected by the Government
*  .60 - the top earners will continue to pay 60% of the total annual taxes collected
$   48-  total taxes paid by the top earners under Willard's new tax plan

$60 - total taxes currently paid by top earners under the Bush tax cuts
$48 - total taxes paid under Willard's new scheme
$12 - less taxes paid by the top earners under Willard's scheme

Again, where is Willard going to get the money to pay for his tax scheme?  If he were to actually increase the taxes on the job creators (his term) then what's up?

Sunday, October 14, 2012

Willard and taxes


Am I the only one who can see this?  Here is how Romney and Ryan have described their tax plan.

1.) 20% across the board tax cut
2.) The cuts will be revenue neutral
3.) The decrease in revenue related to the 20% reduction in marginal rates will be paid for by eliminating certain deductions and loopholes.
4.) This plan will result in broadening the base thereby bringing in more revenue to the government
5.) The net effect is that the wealthy will not pay lower taxes, it is expected that their taxes stay the same.

Now, what does this plan say to you?

1.) Broadening the tax base - translation - Romney will get after the 47% that currently do not pay taxes.
2.) So, the middle and lower income families, again, will need to make up the revenue loss of giving the top 1% more tax advantages or at a minimum - protecting them.

Romney has proven to be a fast talking used car salesman and so in the debate, if he is confronted with his own words, he will deny that the top 1% will see a net decrease or no increase in their taxes.  He will undoubtedly try to lie his way through the debate by saying the 1% will see their taxes go up significantly.  Ok Willard the lying rat, how will raising taxes on the job creators, as you have pointed out, help  the economy grow?