POLITICS-NOBS

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?