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?

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