Skip to main content

There's one question I haven't heard any media person ask about Romney's tax cut plan that seems really fundamental: what is the goal there?  According to Romney the rich won't actually pay less because of the unspecified loopholes that will be closed.  OK then, why bother?  I mean, if the end result is the same then isn't the plan just a time waster?

The only reason I can think of to do it is if some of the loopholes/deductions are unfair or otherwise have negative consequences, but he doesn't have any specific ones in mind so that can't be it.  If the plan isn't just for lowering taxes on the wealthy then someone ought to make him give an alternate explanation, because I don't think there is one.


Your Email has been sent.
You must add at least one tag to this diary before publishing it.

Add keywords that describe this diary. Separate multiple keywords with commas.
Tagging tips - Search For Tags - Browse For Tags


More Tagging tips:

A tag is a way to search for this diary. If someone is searching for "Barack Obama," is this a diary they'd be trying to find?

Use a person's full name, without any title. Senator Obama may become President Obama, and Michelle Obama might run for office.

If your diary covers an election or elected official, use election tags, which are generally the state abbreviation followed by the office. CA-01 is the first district House seat. CA-Sen covers both senate races. NY-GOV covers the New York governor's race.

Tags do not compound: that is, "education reform" is a completely different tag from "education". A tag like "reform" alone is probably not meaningful.

Consider if one or more of these tags fits your diary: Civil Rights, Community, Congress, Culture, Economy, Education, Elections, Energy, Environment, Health Care, International, Labor, Law, Media, Meta, National Security, Science, Transportation, or White House. If your diary is specific to a state, consider adding the state (California, Texas, etc). Keep in mind, though, that there are many wonderful and important diaries that don't fit in any of these tags. Don't worry if yours doesn't.

You can add a private note to this diary when hotlisting it:
Are you sure you want to remove this diary from your hotlist?
Are you sure you want to remove your recommendation? You can only recommend a diary once, so you will not be able to re-recommend it afterwards.
Rescue this diary, and add a note:
Are you sure you want to remove this diary from Rescue?
Choose where to republish this diary. The diary will be added to the queue for that group. Publish it from the queue to make it appear.

You must be a member of a group to use this feature.

Add a quick update to your diary without changing the diary itself:
Are you sure you want to remove this diary?
(The diary will be removed from the site and returned to your drafts for further editing.)
(The diary will be removed.)
Are you sure you want to save these changes to the published diary?

Comment Preferences

  •  I wondered the same thing (2+ / 0-)
    Recommended by:
    bobinson, Chicago Lawyer

    I've gone through it step by step.
    1. Cut taxes 20% across the board
    2. Cap deductions at $17,000 (the most specific proposal he's made)
    3. Middle class taxpayers 'definitely' won't pay more taxes
    4. High income taxpayers 'definitely' won't pay less taxes

    So what the hell, man? That sounds like nothing will change! Much ado about nothing!

    That's what it sounds like, but that can't possibly be his plan.

    David Frum claims that Romney's tax plan will benefit the super rich at the expense of the ordinary rich.  Which sounds as plausible an explanation as any I've heard.

    Women do 2/3 of the world's work, receive 10% of the world's income and own 1% of the means of production.

    by LibrErica on Fri Oct 12, 2012 at 11:24:36 AM PDT

  •  Because Romney is lying (2+ / 0-)
    Recommended by:
    fly, elmo

    The tax cuts will reduce the rates on LLC and S-corporation income that is passed through to their owners, but he is not planning on reducing, capping, or eliminating any deductions that can be taken in computing pass-through income.

    Wealthy taxpayers will reap a tax cut bonanza.

    "Well, I'm sure I'd feel much worse if I weren't under such heavy sedation..."--David St. Hubbins

    by Old Left Good Left on Fri Oct 12, 2012 at 11:46:34 AM PDT

  •  Also find this very confusing... (1+ / 0-)
    Recommended by:

    Take Romney at his word, at least what his word was at the last debate.  Rates will be lower, but deductions will be lower as well.  The rich will not pay less, the middle class will pay about the same...or something.  What's the point of spending so much damned time discussing this, beside the fact that every Republican has to have a fucking tax plan apparently?  You're going to lower my income tax rate but limit my deducting mortgage interest or state/local taxes, so I pay the same at the end?  In what world am I supposed to care about this?

  •  You are supposed to be mesmerized (0+ / 0-)

    by the magic words "tax cuts!"

    You're not supposed to think about how it actually works. It doesn't.

    He might as well be promising every voter a magic pony. Which I am pretty sure he would do today if that polled well.

  •  THE MISSING WORDS (1+ / 0-)
    Recommended by:
    Melanie in IA

    are "capital gains" and "estate taxes", which Ryan and Romney want to set at zero.

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site