Quote:
Romney's said he'd reduce the tax rate.
He's said he'd eliminate deductions to make the change revenue neutral.
How is this going to make it possible for people to pay less in taxes?
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Revenue neutral may mean (for Romney) the total $ of revenue stays the same.
So if an upper part of the middle class pays less:
---(e.g., no taxes on stock dividends, interest income, capital gains,
no taxes on estates handed down to family members, etc.)
and bottom half pays more:
---(e.g., loss of deductions for home mortage, charity, education, etc.)
to Romney, if the $ amount remains the same, this is "revenue neutral"...
But for those in the bottom half, somehow it doesn't quite feel that way.