Romney, Ryan Refuse To Identify(any) Tax Loopholes They’d Close

Discussion in 'Politics' started by Free Thinker, Sep 10, 2012.

  1. for righties who think cutting spending is important. how could you be so gullible as to believe that romney will be able to think of something after he is elected:

    In separate interviews Sunday, Mitt Romney and Paul Ryan refused to identify which tax loopholes they would close in order to pay for their large tax cuts.

    On NBC’s “Meet The Press,” Romney dodged multiple questions about which deductions or credits he’d target, saying only that he’ll get rid of “some of the loopholes and deductions at the high end” while seeking to “lower the burden on middle income people.”

    Pressed for one specific example, Romney replied, “Well, the specifics are these which is those principles I described are the heart of my policy.”

    On ABC’s “This Week,” Ryan also fended off multiple questions about whether the Romney-Ryan tax plan should be taken seriously given its lack of details on which loopholes they would close.

    “Mitt Romney and I, based on our experience, think the best way to do this is to show the framework, show the outlines of these plans, and then to work with Congress to do this. That’s how you get things done,” he said.

    The Romney-Ryan plan would cut taxes beneath existing Bush-era levels, with benefits disproportionately for high earners, at a cost of roughly $5 trillion. They have vowed that the breaks would be revenue-neutral by way of closing tax credits and deductions but have persisted in their refusal to specify which ones, other than promising that the changes wouldn’t target middle class Americans.

    A large chunk of the over $1 trillion in annual federal tax credits and deductions — including for home mortgage interest and employer-based health care — benefit middle class Americans. Other perks, like preferential tax treatment of capital gains and dividends, are strongly supported by Republicans, including Romney.

    At the Democratic convention, Bill Clinton called the Romney tax plan mathematically unsound. In order to meet his targets, the former president said, Romney will “have to eliminate so many deductions, like the ones for home mortgages and charitable giving, that middle-class families will see their tax bills go up.” Otherwise, he said, “they’ll have to cut so much spending that they’ll obliterate the budget for the national parks, for ensuring clean air, clean water, safe food, safe air travel.”

    Romney and Ryan have been pounded by Democrats for the hazy details of their tax agenda. On Sunday, Ryan said it’s not a “secret plan” even as he declined to offer details.

    Pressed repeatedly on “Meet The Press” how he would make the numbers add up, Romney didn’t take the bait, instead saying voters should trust him.

    “I’ve had the experience of being a governor,” he said. “I’ve demonstrated that I have the capacity to balance budgets.”
  2. Why don't you just set up an rss feed directly to P&R, from talkingpointsmemo?

    you copy and paste their useless crap nearly everyday
  3. The only way to know the tax plan, which I'm certain is written on golden plates, is to put a seer stone in your hat and remote view the writing. That's the ticket! Wonder where we can get a seer stone?
  4. If Congress doesn’t act to prevent the $92 billion tax increase, the number of households facing the alternative tax would increase to 32.9 million from 4.4 million, according to the Internal Revenue Service. That’s an average unanticipated tax increase of about $2,800.

    The effect from the AMT, as the parallel tax is known, would be immediate in early 2013 because Congress hasn’t addressed the change for tax year 2012, and taxpayers start filing returns in January. A retroactive AMT change is much more cumbersome than retroactive changes in the 2013 income tax rates, which can be handled through paycheck-withholding adjustments, said Kenneth Kies, a Republican tax lobbyist in Washington
  5. Lucrum


    Obama loons thought Odumbo was going to think of something after being elected AND suddenly become something other than an unqualified empty suit.
  6. "Pressed for one specific example, Romney replied,“Well,the specifics are these which is thoseprinciples I described are the heart of my policy.”"

    Idiots like Romney should be deported from this country.
  7. RedDuke


    I would say, mortgage interest deductions will come into discussions.
  8. Brass


    And that will directly hit the middle class and the housing market. The "American Dream" will become that much more "Dream On" under a Romney administration.
  9. Lucrum


    If they'd adjust the tax rate to make the loss of it, and any other deductions eliminated, revenue neutral I'd be all for it.
  10. So Romney's tax plan is vague. The truth is, it has no chance of being enacted. The media are just trying to get him to identify popular deductions that he'd target so the democrats can demagogue them to death. He's smart not to get specific. He should just say he'll try to work across the aisle to get the democrats to agree on something reasonable.

    What is Obama's tax plan? Why aren't the media interested at all in it? Why don't they press him on who would get screwed?
    #10     Sep 10, 2012