Romney To Middle Class Ohioans: Don't Expect Too Much Tax Relief From Me
WESTERVILLE, Ohio -- In a line that event attendees found a bit puzzling, Mitt Romney warned a crowd of mostly middle-class onlookers on Wednesday not to expect too much tax relief under his administration.
"We have got to reform our tax system," Romney said at a morning event here. "Small businesses most typically pay taxes at the individual tax rate. And so our individual income taxes are the ones I want to reform. Make them simpler. I want to bring the rates down. By the way, don't be expecting a huge cut in taxes because I'm also going to lower deductions and exemptions. But by bringing rates down we will be able to let small businesses keep more of their money so they can hire more people."
The comments were either a flub on Romney's part or an admission that many of the deductions and exemptions that he will have to target in order to make his tax plan deficit neutral will end up affecting the middle class.
To date, Romney has said that he will only eliminate deductions and exemptions above a certain income level. He hasn't said what that income level would be. But when asked whether he would make $100,000 the cutoff, he said that he considered "middle income" to be "$200,000 to $250,000 and less." (One of the few Romney-backing studies has said that the only way his tax plan adds up is if he eliminates deductions and exemptions above that $100,000 income level).
No, actually, it's an unedited video... (I realize that "unedited" is a foreign concept to Righties...They're so used to creatively editing things to suit their purpose..) But I'm sure you can find it on YouTube without any benefit of HuffPo...
FredHayek wrote: LJ Lenses: Romney promises everything to the middle class. Verdict liar!
LJ Lenses: Romney is honest. Verdict, stupid to not lie to the public.
Maybe it is: LJ lenses: Yes indeed, there are times that Romney forgets to lie.
If my marginal tax bracket drops from 25% to 20% and I lose my health insurance deduction, it would probably a wash in year1. In year two, if I get a raise, or work some overtime, my incremental increase in income will be taxed 5% less than it would have. Unless my health insurance increases more than my income increases. Same idea with other deductions/credits.
If you want to be, press one. If you want not to be, press 2
Republicans are red, democrats are blue, neither of them, gives a flip about you.
FredHayek wrote: LJ Lenses: Romney promises everything to the middle class. Verdict liar!
LJ Lenses: Romney is honest. Verdict, stupid to not lie to the public.
Maybe it is: LJ lenses: Yes indeed, there are times that Romney forgets to lie.
Whenever he's not reading a script...
Terrible thing about all those 47%-of-the-population freeloaders and deadbeats...(You know, the military, retirees, seniors on medicaid, etc..)
"I like to fire people."
"I don't remember what I said, but I stand by it."
"I'm not concerned about the very poor...We have a safety net."
"I love this state...The trees are just the right height"
"My wife drives a couple of Cadillacs"
"I believe marriage is between a man and a woman...and a woman...and a woman..."
"We've got to stop China from cheating...and taking American jobs..." (That's why I shipped so many of them overseas with companies that "pioneered" the concept of off-shoring--or is it outsourcing...I can never remember.) But as soon as I realized that it could come back to bite me, I divested ..."
