I admittedly am not very good at arithmetic. But I've been trying to figure out how Romney will reduce the deficit given what he's says he will do. It really doesn't add up. Perhaps there have been fact checks on this. I don't know. So these are the questions I would love to have asked Romney last night.
Ok... here goes:
You said:
The top 5 percent of taxpayers will continue to pay 60 percent of the income tax the nation collects. So that'll stay the same.
And you said:
I want to get middle- income taxpayers to have lower taxes.
So if the top 5 percent of taxpayers will continue to pay 60% of the income tax the nation collects, and the middle class pays less, then who makes up the difference? I mean you say
I'm going to reduce the tax burden on middle income families.
Well if you reduce the tax burden on the middle class and keep the tax burden on the upper class to 60%, then who makes up the difference?
Next question: If you give a tax cut to the wealthy and close loopholes such that they pay the same share, then why do anything? The net gain on revenue is 0. And if your premise is cutting taxes stimulates the economy, then having them pay the same flies in the face of your premise. How does that work?
Next question: If the wealthy will pay no more in taxes and the middle class will pay less in taxes this means revenue neutral or even less revenue, and if you will not cut Medicare and Social Security, how do you cut $1 trillion? Discretionary spending is $646 billion. You can cut the entire discretionary spending budget to zero and you still have a deficit of at least $350 billion. Then add in the increase in military spending you want to do. If you claim the GDP will grow with your tax cuts, how much will it have to grow to make up for a $1 trillion deficit? And how will the economy grow and be stimulated if the tax burden, under your plan, stays the same on businesses?
Final question: If Obamacare kills business, then why did you sign Romneycare and why do you brag about it? What supposedly is devastating to businesses is the mandatory coverage. You had that with Romneycare in Massachusetts. If your position is correct, then Romneycare flies in the face of your position now.
I mean I'm not trying to be hackish here. I really have tried to figure out his math and I'm stooped. What's the arithmetic here?
