6 studies prove Romney tax plan is impossible

if Romney is elected I think we can reasonably expect the rich to get richer, corporations to become more powerful, jobs to be created in China and other foreign places, and the average citizen to get screwed. But our conservative friends here will cheer him on and stand with their hands out waiting for the trickle down to start. By 2016 I suspect some will actually recognize they had been duped from the start.

And "K" Street lobbyists are already licking their chops at the thought of all that cash they could funnel into the pockets of teabaggers and wingnuts to buy the legislation they want...

Only problem is, it's looking more and more like Gov NumbNuts is going to lose, and there are going to be fewer teabaggers this time around...

archer wrote: if Romney is elected I think we can reasonably expect the rich to get richer, corporations to become more powerful, jobs to be created in China and other foreign places, and the average citizen to get screwed. But our conservative friends here will cheer him on and stand with their hands out waiting for the trickle down to start. By 2016 I suspect some will actually recognize they had been duped from the start.

But all the things you are worried about have already occurred under Obama's watch. Rich are getting richer. More than 14 million have had to apply for foodstamps to live. Manufacturing jobs are still on the decline. And the jobs that have been created aren't very good because the average household has lost $10000 in income. Why do you think Obama is better again?

Because he's NOT a teabagger, or a Bush or a RMoney or a Ryan.

archer wrote: if Romney is elected I think we can reasonably expect the rich to get richer, corporations to become more powerful, jobs to be created in China and other foreign places, and the average citizen to get screwed. But our conservative friends here will cheer him on and stand with their hands out waiting for the trickle down to start. By 2016 I suspect some will actually recognize they had been duped from the start.

But all of that has already happened under Obama, and he spent over $800 billion to boot to keep unemployment under 8% and have it at about 5.5% by now.. The only difference is it's 2012 now, and apparently the Obama supporters haven't yet recognized they've been duped.

I was going to challenge Raees on the title of this thread because it's not accurate. But I see it came from his source. Those studies do not prove Romney's plan is impossible, they support Romney's plan. It's the author of the article who challenges the findings. Perhaps some editor came up the the title because it has nothing to do with what's in the article?

So for as Romney's tax plan goes, I like the general idea of simplifying tax code by cutting out deductions and loopholes and then use the savings to lower tax rates. It's based on some of what Obama's own deficit commission proposed (Simpson-Bowles).

So far as I know, there has always been another part of Romney's tax plan which clearly stated that upper income people will continue to at least contribute the same percentage to taxes as they do now. When the Tax Policy Center did their study, they concluded Romney was cutting the rates too much to cover the gains from cutting deductions and loopholes. What I don't understand is they next concluded that Romney would have to raise taxes on the middle class to make up for it. Seems to me they should of instead concluded that Romney wouldn't lower the rates on the higher end tax payers as much as origionally proposed (20%). That would accomplish the other part of Romney's plan; to keep higher earners paying the same as they do now. In fact Romney's tax advisor recently indicated that would be on the table.

Another issue I see with the TPC study was it assumed Romney's plan would have to pay for Obama tax increases which haven't even gone into effect yet; such as Obamacare's 0.9% increase on income (over $200/250K), 3.8% increase on investments for those over $200/250K, and the big tax on "Cadillac" health plans which would hit the middle class. Romney said he would get rid of Obamacare (I have no idea how), and if so, I don't see how the TPC should expect him to cover Obamacare's future tax increases.

Yes, Romney's plan lacks details and I'd prefer more details. But is that anything new in politics from either party? We knew very little about what new taxes would be in Obamacare before Obama got elected. Perhaps Romney doesn't want to be too specific so he can't later be accused later of lying about it? Obama got specific about promising those making under $200/250K would not see a penny increase in any taxes, and that got blown out of the water with the middle/lower income tax increases in Obamacare.

No Obama joined the rich, he has had a taste of what there is and there will be no turning back, no middle class and you peons will become surfs to the king.

OK I have saved this quote as it will become fact and fame.

FredHayek wrote:

archer wrote: if Romney is elected I think we can reasonably expect the rich to get richer, corporations to become more powerful, jobs to be created in China and other foreign places, and the average citizen to get screwed. But our conservative friends here will cheer him on and stand with their hands out waiting for the trickle down to start. By 2016 I suspect some will actually recognize they had been duped from the start.

But all the things you are worried about have already occurred under Obama's watch. Rich are getting richer. More than 14 million have had to apply for foodstamps to live. Manufacturing jobs are still on the decline. And the jobs that have been created aren't very good because the average household has lost $10000 in income. Why do you think Obama is better again?

Once again, false. Manufacturing jobs have risen since 2010 under the current administration leadership. More and more companies are insourcing jobs back to the US under Obama. In fact, after historic plunges in manufacturing jobs under the Bush administration, manufacturing jobs have risen under Obama. But why not lie if you can create an false outrage.

They're still working from last year's "outrage-of-the-day" talking points. I doubt that they'll get an updated version until it's too late...

Something the Dog Said wrote:

FredHayek wrote:

archer wrote: if Romney is elected I think we can reasonably expect the rich to get richer, corporations to become more powerful, jobs to be created in China and other foreign places, and the average citizen to get screwed. But our conservative friends here will cheer him on and stand with their hands out waiting for the trickle down to start. By 2016 I suspect some will actually recognize they had been duped from the start.

But all the things you are worried about have already occurred under Obama's watch. Rich are getting richer. More than 14 million have had to apply for foodstamps to live. Manufacturing jobs are still on the decline. And the jobs that have been created aren't very good because the average household has lost $10000 in income. Why do you think Obama is better again?

Once again, false. Manufacturing jobs have risen since 2010 under the current administration leadership. More and more companies are insourcing jobs back to the US under Obama. In fact, after historic plunges in manufacturing jobs under the Bush administration, manufacturing jobs have risen under Obama. But why not lie if you can create an false outrage.

Can you point me to an Obama policy that might be responsible for this? Just curious if this is something that is business cycle related or if there was some incentive that I wasn't aware of.