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View Diary: Lying liar: Romney's lies about his tax plan (84 comments)

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  •  this^^^^ (1+ / 0-)
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    And, the entire small business pays at personal rates is true for the passthrough entities, BUT, now the income is on the personal return and if you lower the rates WHILE eliminating deductions, credits and exemptions, NOTHING CHANGES or in fact, depending upon where your net business income is, without say:

    Mortgage Interest Deduction
    Tuition Credits
    Personal Exemption
    SE Health Insurance (employer paid insurance will NOW be taxable)

    your taxes could most certainly go up.  

    If your small business generates enough to put your personal income outside of the tuition credits, you wouldn't get those anyway, but the other things would certainly hurt.

    In addition, what a WONDERFUL way to bring the housing market to a complete HALT!

    •  What he means by "broadening the base" (0+ / 0-)

      One would have to be an idiot to not parse it that way. He wants to invert the tax pyramid, or at least make it more like a trapezoid just barely wider at its top than at its bottom. He wants a nearly free ride for rich people and to have everyone else make up the difference. I don't even think it's just because he's a greedy bastard. I think he truly does believe in the cult of Randianism.

      "Liberty without virtue would be no blessing to us" - Benjamin Rush, 1777

      by kovie on Thu Oct 04, 2012 at 01:34:31 PM PDT

      [ Parent ]

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