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View Diary: Mitt Romney's debate performance: 'Mostly fiction' (174 comments)

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  •  Possible explanation (0+ / 0-)

    This is only a guess based on last night.  Supposed the tax cut would be revenue neutral, by eliminating deductions and loopholes.  Theoretically, this is possible.  My impression was that defense spending would remain the same under Romney's plan - the differences is that Obama would cut it.  The deficit reduction plan is to grow the economy, resulting in increaed revenue, and decrease spending.  Ideally, this would work, but everyone seems to say this every election (I believe Obama said something similar 4 years ago, but was unable to deliver).

    •  Possible if the middle makes up the difference (1+ / 0-)
      Recommended by:
      Dezza

      But that's where the 'base broadening' comes into play.  Romney will not address specific loopholes and deductions because he, and most tax experts, know that it is only possible by increasing the tax burden on the middle class.  The tax changes will be (theoretically) revenue neutral in terms of dollars but not neutral with respect to who pays.  And Romney just refuses to admit that.  

      He has also publically said he will increase defense spending above current levels.  Not just not cut it.  

      Taking money out of the economy to reduce the deficit is not going to grow the economy.  Especially if you're cutting the heart out of programs middle & lower income Americans rely on to do it.  They will just need to make up for those cuts on their own which will decrease the discretionary money they have to put into the economy.  People don't spend money, economy slows, revenue decreases, more cuts, more slowing, etc. etc.  [see Greece, Spain et al] The top 1% is already loaded down with cash.  Have been for years.  And they ain't making any jobs.  How many business owners do you know who say, "Hey business is slow but I have tons of cash so I'm gonna expand my business and hire more people!"  None.  

      Americas wealthy need to make an extraodrinary contribution right now.  To deny that is so short sighted it is ridiculous.  Wealth concentration is incredible.  And it's doing ZERO to make this country stronger in the long run.  

      "There's no trick to being a humorist when you have the whole government working for you." -Will Rogers

      by mheido on Thu Oct 04, 2012 at 08:49:23 AM PDT

      [ Parent ]

    •  RMoney Can't "Grow The Economy" If He Takes (1+ / 0-)
      Recommended by:
      mheido

      money out of the economy - that is the great lie the right wingers continually spout. Even if Mitt Robbed Me cuts taxes by 20% on everyone, it will be more than offset by his cuts to domestic spending programs that the middle class depends on, AND elimination of middle class tax deductions and credits. Which means the middle class and lower class (the ones who actually account for most of the demand spending in our economy), will NOT have any extra money to spend, and the lackluster economy stays stuck right where it is - minus the safety net programs most Americans depend on. It's a recipe for disaster.

      RMoney's increases for defense contractor spending MIGHT increase employment - but only in certain areas of the country that depend on defense industry jobs. A Federal nationwide stimulus program of construction jobs to repair our national infrastructure (i.e. President Obama's jobs bill) is more likely to help the economy because it hires people EVERYWHERE, puts money into the pockets of everyday people to spend in the economy, AND doesn't shred the safety net programs.

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