LookieNoNookie -> RE: Romney's Tax Plan Revealed (10/16/2012 3:35:06 PM)
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ORIGINAL: stef Finally, all the questions will be answered. http://www.romneytaxplan.com/ Cute. Here's the facts. You can't know the facts until you're privy to them. Everyone's hyper focused on "how can you possibly lower rates by 20% and still pay the bills?" I'm no genius but, the math is fairly simple: He said he's going to lower rates while "not affecting how the upper tax paying group (I'm paraphrasing) impacts taxable revenues". And....he said he's going to eliminate deductions across all spectrum's. Consider: You have $50,000.00 income, your mortgage is maybe 12% of your taxable net and deductibles. Someone with 2 million in income, but his or her mortgage reflects about 4% of their income....lessening the mortgage deduction impacts everyone's income equally (simple math) but as a percentage....the person who makes shitloads has more taxable income thereafter, ergo....the guy that makes a bunch will ACTUALLY pay more in the end, even with lower rates. Romney's not a moron...as some would like to believe, and Obama is most assuredly someone who would like to see EVERYONE pay more. (Personally, I'd prefer the rates rise 3% across the board but that every Congressman sign some kind of Grover Norquist agreement that, for every 1 dollar raised, 5 has to be cut....but....THAT ain't gonna fucking happen). Now, it's more than factual that the wealthy have been paying a substantially larger amount of the total share every year since Reagan, and with Romney's plan that will actually increase but....Romney knows how to pay bills on time. Don't you think it's about time we do so? You do....don't you?
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