Our candidates suck, therefor let's blame the "mainstream" media (even though we are the largest corporate media force in the galaxy).
Romney Plan Adds $600B to Deficit: Analysis By Steven Sloan - Jan 5, 2012 1:40 PM CT . Republican presidential candidate Mitt Romney’s tax proposal would add $600 billion to the U.S. budget deficit in 2015, according to a study released today by the nonpartisan Tax Policy Center in Washington. The analysis compares the revenue that Romney’s tax-code changes would generate compared with expected U.S. revenue under current law, which assumes that several income tax cuts will expire as scheduled at the end of 2012. The numbers were released five days before Romney, a former Massachusetts governor, seeks to solidify his front-runner status with a win in the New Hampshire primary. The analysis said Romney’s plan would “reduce federal tax revenues substantially” though not as deeply as some of his opponents. In a separate study released Dec. 12, the Tax Policy Center said former U.S. House Speaker Newt Gingrich’s proposed tax regime would add $1.3 trillion to the budget deficit in 2015. Romney’s economic plan calls on Congress to immediately lower the top corporate tax rate to 25 percent from 35 percent. He has said he would be open to additional rate cuts if they are accompanied by measures that would broaden the income base. He would move the U.S. to a so-called territorial system of taxation, in which the government taxes only domestically generated corporate income. Republican leaders in Congress have shown interest in this concept. House Ways and Means Chairman Dave Camp, a Michigan Republican, introduced a proposal in October that would shield 95 percent of profits earned offshore from taxation in the U.S. Individual Taxes For individuals, Romney would lower the maximum tax rate to 25 percent from 35 percent, eliminate the estate tax and make permanent the current 15 percent rate on dividends and capital gains. Taxpayers with an adjusted gross income of less than $200,000 wouldn’t pay any taxes on capital gains or dividends. Romney’s tax plan, unlike those of some of his Republican opponents, isn’t an attempt to escape the confines of the complex U.S. tax code. It doesn’t give taxpayers the choice of sticking with the tax code or paying a flat tax instead, as Gingrich and Texas Governor Rick Perry proposed. There isn’t a national sales tax like the one Herman Cain outlined before his campaign collapsed. “My administration will make America the best place in the world for entrepreneurs, inventors and job creators,” Romney said at a campaign event in Davenport, Iowa, on Dec. 27. “I’ll lower and simplify taxes, especially for middle-income Americans.” http://www.bloomberg.com/news/2012-01-05/romney-plan-adds-600b-to-deficit-analysis.html
Study: Romney plan raises taxes on poor families By STEPHEN OHLEMACHER, Associated Press – 5 minutes ago WASHINGTON (AP) — A new independent study says Republican Mitt Romney's tax plan would increase taxes on low-income families while cutting taxes for the middle-class and the rich. The study by the Tax Policy Center says, on average, households making less than $20,000 would see their taxes increase by more than 60 percent by letting tax cuts enacted under President Barack Obama expire. Those tax cuts target low-income families. The study by the independent research group says people making more than $1 million would get tax cuts averaging 15 percent. Romney, a former Massachusetts governor, is the front-runner for the GOP nomination for president. Campaign spokeswoman Andrea Saul said Romney's plan holds the line on tax rates for individuals and families and dramatically reduces the corporate tax rate to create jobs. Copyright © 2012 The Associated Press. All rights reserved. http://www.google.com/hostednews/ap...ltB_Fw?docId=e2c2df9e064e45099ea7d5804b7f07e9
it's a bit disingenuous for the first study to compare Romney's plan to what would happen if current cuts expire in 2012 when we've seen the record of what really happens when temporary cuts are scheduled to expire...unless the President is committed (this time for real) to actually let them expire. ...and in the second study, I suppose lower income families would face the same fate under President Obama....since what's driving their increased taxes is the expiry of cuts on the timeline set out by Obama. Fun with numbers. Fun with headlines.
Fair point, but the House GOP has not been shy in pushing the theory that taxes should be raised on the lower & middle classes - is it unfair to impart that to Romney? Hell, given his fluidity, is it unfair to impart anything to Romney, knowing that he'd say it in order to help get votes?
true enough sam...but what the second article's headline is attributing to Romney, isn't his doing. So it is unfair to impart that on him. And....following the article's assumption that neither Romney nor Obama would change Obama's timeline...the result to those families is the same regardless of who sits in the whitehouse. So what's the headline saying?
Go go Gingrich... <iframe width="560" height="315" src="http://www.youtube.com/embed/7EApRHZ1WAc" frameborder="0" allowfullscreen></iframe>
I'm sure that won't be the last time we see CGroveStapleton, at the very least, his martyrdom will spark a wave of valiant revolutionaries to cf.net, who will fight the good fight and spread the good word of women's oppression and renounce the evil that is governmental oversight.
He is doing it, it's just not specified in the article, which isn't edited very well: http://taxvox.taxpolicycenter.org/2...blogfeed+(TaxVox:+the+Tax+Policy+Center+blog)
My apologies for all the posts today, but I'm just doing my part to help Santorum get the GOP nomination.
Wow. No kidding.... when they start by mixing up total cuts to deficit effect it can only really go downhill from there. And it does. I suppose it's semantics whether allowing some cuts to expire -- while extending others -- is really an active act of raising taxes....but in the end it's moot. The first draft never gets passed. And he may as well be putting down his deposit for Red Sox tickets anyways, because there'll be no need for him to relocate anytime soon.
Plz plz plz! I want nothing more than a return to 1950's small town America. David Lynch's Blue Velvet version of 1950s America that is.
Doesn't matter who the GOP candidate is. Just get that long legged "cat-daddy" out of office already. Real change coming in November people!
