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Old 10-11-2012, 10:50 AM   #203
BigV
Goon Squad Leader
 
Join Date: Nov 2004
Location: Seattle
Posts: 27,063
Adak, or anyone who understands and believes Romney's tax plan, please help me.

He's said that we as a country need to solve our budget problems, and the main way to do that is to reform the tax code. He's said he will cut tax rates by 20% across the board. This is supposed to generate enough increased growth to create millions of jobs and broaden the base. He's claimed that his tax cuts "absolutely" not increase taxes, and that it will be done in a revenue neutral fashion, paying for these cuts with compensating eliminations of deductions. I think I have that right.

So here's my question.

He says he's gonna solve our budget problems by growing the economy.
He says he's gonna grow the economy by cutting tax rates.
He says he's gonna keep the same amount of money coming in by eliminating deductions.

So, business is being held up from expanding because they have too many deductions? Business is afraid of deductions?

What?

Reduce rates, meaning the amount of taxes due on a given amount is LESS.
Eliminate deductions and exemptions equal to the amount of the amount of tax savings from reduced rates--this is what being revenue neutral means--so the net tax due is the same.
What's changed? I pay the same amount in taxes, how does the deficit go down?

Romney's tax plan does not add up. He won't explain it, Adak won't explain it. mercy won't explain it. Urbane Guerrilla won't explain it. Firing Big Bird won't solve it, but that's all he's offered. Oh, that and Planned Parenthood.

He's stupid or he's lying. And I don't think he's stupid.
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