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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.

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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:
    elmo

    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.

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