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subspaceseven -> Willard gaffes on tax plan shows hand (10/19/2012 8:20:20 AM)
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So willard was once again dodging what loopholes he would close to make his tax plan work, since the only supporters are blog, op-ed and one study paid for by willard, So he used another study to say see it is possible, but he must not have read it because it repeals every deduction the middle class enjoy
"Under the proposal, all personal exemptions, itemized deductions, personal credits except for the earned income credit, and all above-the-line adjustments to income except for retirement savings deductions and the deduction for self employment taxes would be repealed. The largest categories of deductions repealed are present-law deductions for home mortgage interest expenses, State and local taxes, and charitable contributions. In addition, the exclusions for certain employee fringe benefits, such as employer contributions for health and life insurance, would be repealed. The standard deduction would remain."
The study also found that such a plan would result in the “redistribution” of income tax liability from high-income earners to the middle class. And the promised job growth is only between 1 and 2 percent over ten years (one to two million jobs), while Romney promises that his tax plan will create seven million jobs over four years.
https://www.jct.gov/publications.html?func=startdown&id=1467
http://www.rollcall.com/news/romney_camp_cites_2006_jct_study_to_tout_tax_plan-218322-1.html
Didn't the GOP try this before and it failed, so lets do it again, cause the rich want to keep getting richer and not help pay taxes to keep this country going
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