Bend over America if Romney gets elected (42)
I don't like either party, in fact I'm hard pressed to find anyone in DC I do like. I think it's far past time to vote them all out. America was once 50% of the world economy and look at us now. Who was in charge in DC, the Dems and Reps. The laws and taxes they have imposed have led to ruin of America.
But under O we have been crippled, so if I "must" pick the lesser of 2 evils I see Romney as a tiny bit less evil than O.
But under O we have been crippled, so if I "must" pick the lesser of 2 evils I see Romney as a tiny bit less evil than O.
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ooby_dooby: http://www.npr.org/blogs/itsallpolitics/2012/08/27/160083532/romney-s-plan-to-broaden-tax-base-finds-critics
Republican presidential candidate Mitt Romney says he favors keeping all of the Bush-era tax cuts and then adding some more. To pay for these cuts, he would reduce or eliminate some of the tax deductions that many Americans have come to rely on. But his proposals are already facing a lot of resistance.
Romney says he wants to sharply cut income tax rates, which would mean big tax cuts for higher-income people. But he says the cuts would be revenue-neutral. They would bring in the same amount of money to the Treasury because he would also get rid of some of the deductions that fill the tax code.
"I'm looking instead to lower tax rates and limit deductions and exemptions in such a way that we have enterprises, small businesses able to keep more of their capital and at the same time simplify the code," he said last week on Fox Business News.
Republican presidential candidate Mitt Romney says he favors keeping all of the Bush-era tax cuts and then adding some more. To pay for these cuts, he would reduce or eliminate some of the tax deductions that many Americans have come to rely on. But his proposals are already facing a lot of resistance.
Romney says he wants to sharply cut income tax rates, which would mean big tax cuts for higher-income people. But he says the cuts would be revenue-neutral. They would bring in the same amount of money to the Treasury because he would also get rid of some of the deductions that fill the tax code.
"I'm looking instead to lower tax rates and limit deductions and exemptions in such a way that we have enterprises, small businesses able to keep more of their capital and at the same time simplify the code," he said last week on Fox Business News.
Gee OOby Romney and Ryan did not evolve their positions on Gays did they?
But to the OP. Umm correct me if I am wrong. But is you have accross the board tax cut.....then middle incomes have a tax break as well.
Romney is going to be able to do this because he not going to run a massive FED government to support the ACA.
Gee Ooby....that means you are getting more in your pocket as well!
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IamTab: I don't like either party, in fact I'm hard pressed to find anyone in DC I do like. I think it's far past time to vote them all out. America was once 50% of the world economy and look at us now. Who was in charge in DC, the Dems and Reps. The laws and taxes they have imposed have led to ruin of America.
But under O we have been crippled, so if I "must" pick the lesser of 2 evils I see Romney as a tiny bit less evil than O.
But under O we have been crippled, so if I "must" pick the lesser of 2 evils I see Romney as a tiny bit less evil than O.
I think most Americans agree with that position.
There is no "right" choice.
But Obama is certainly the greater "wrong" choice.
It's a very sad state of affairs.
But we have to choose the lesser of two weevils.
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ooby_dooby: http://www.npr.org/blogs/itsallpolitics/2012/08/27/160083532/romney-s-plan-to-broaden-tax-base-finds-critics
Republican presidential candidate Mitt Romney says he favors keeping all of the Bush-era tax cuts and then adding some more. To pay for these cuts, he would reduce or eliminate some of the tax deductions that many Americans have come to rely on. But his proposals are already facing a lot of resistance.
Romney says he wants to sharply cut income tax rates, which would mean big tax cuts for higher-income people. But he says the cuts would be revenue-neutral. They would bring in the same amount of money to the Treasury because he would also get rid of some of the deductions that fill the tax code.
"I'm looking instead to lower tax rates and limit deductions and exemptions in such a way that we have enterprises, small businesses able to keep more of their capital and at the same time simplify the code," he said last week on Fox Business News.
Well oob , its going to be very interesting . I can't see how tax cuts can help a deficit as it makes no sense to cut income before costs are cut .Taxs need to rise or rather more people employed in the private secter so you can tax them .No point in having govt jobs as the difference between being paid tax and paying tax is great . We will have ring side seats to see if Mitt and his mate manage decline or collapse if they get any where the seat of power . Some how I think it may be the latter as the are of the same clique who have led to where we are today Republican presidential candidate Mitt Romney says he favors keeping all of the Bush-era tax cuts and then adding some more. To pay for these cuts, he would reduce or eliminate some of the tax deductions that many Americans have come to rely on. But his proposals are already facing a lot of resistance.
Romney says he wants to sharply cut income tax rates, which would mean big tax cuts for higher-income people. But he says the cuts would be revenue-neutral. They would bring in the same amount of money to the Treasury because he would also get rid of some of the deductions that fill the tax code.
"I'm looking instead to lower tax rates and limit deductions and exemptions in such a way that we have enterprises, small businesses able to keep more of their capital and at the same time simplify the code," he said last week on Fox Business News.
cheers oob
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I can't see that there is anything inherently wrong with that proposal. Cutting taxes and simplifying the tax code could make it unnecessary for the deductions. If they are revenue neutral, but easier to manage, where is the harm?
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ttom500: Gee OOby Romney and Ryan did not evolve their positions on Gays did they?
But to the OP. Umm correct me if I am wrong. But is you have accross the board tax cut.....then middle incomes have a tax break as well.
Romney is going to be able to do this because he not going to run a massive FED government to support the ACA.
Gee Ooby....that means you are getting more in your pocket as well!
Don't be a fool Tom. your last comment was insulting my intelligence. But to the OP. Umm correct me if I am wrong. But is you have accross the board tax cut.....then middle incomes have a tax break as well.
Romney is going to be able to do this because he not going to run a massive FED government to support the ACA.
Gee Ooby....that means you are getting more in your pocket as well!
Lets say hypothetically that Romney/Ryan drop the tax rate 1 percent across the board, and to pay for it they eliminate just the mortgage interest deduction. Now lets compare a middle class blue collar worker making $50,000 annually to a CEO making $50 million. ok?
The blue collar worker gets to keep $500.00 more of his pay but he loses about $6,000/year in mortgage int deduction resulting in $5,500 hit to his bottom line. Even if you take the net impact of his tax savings assuming he's in the 25% tax bracket he's still losing $1375. for a total real net loss of ($875.00) I think these numbers are very close to real world.
Now let's look at the CEO, he gets to keep $500,000 and more than likely he doesn't even have a mortgage because his corporation is probably picking up the tab on his huge house so he loses nothing.
Do the math Tom, don't take everything these rich pricks feed you as gospel.
If I had the power I would immediately abolish the tax free status of all religeous entities and make them pay the unearned income tax rate just like Romney and Warren Buffet do of 15%. I think it's high time these guys stop getting a free ride.
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epirb: Well oob , its going to be very interesting . I can't see how tax cuts can help a deficit as it makes no sense to cut income before costs are cut .Taxs need to rise or rather more people employed in the private secter so you can tax them .No point in having govt jobs as the difference between being paid tax and paying tax is great . We will have ring side seats to see if Mitt and his mate manage decline or collapse if they get any where the seat of power . Some how I think it may be the latter as the are of the same clique who have led to where we are today
cheers oob
cheers oob
Good gawd, epirb. Such doom n gloom. If our economy goes, what do you think has happened already to other economies?. I say it's time to call things to order and take back Washington as Washington would want and do.
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galrads: Good gawd, epirb. Such doom n gloom. If our economy goes, what do you think has happened already to other economies?. I say it's time to call things to order and take back Washington as Washington would want and do.
No doom and gloom here Gal , don't like seeing you unhappy either . Detached assessment brought about by the knowledge that what ever happens there will happen here as well and I have spent time making sure "I will be alright jack". ( little saying we have here when goo is flying and does not have your name on it ) Getting out of debt , not wanting the latest fads all part of felling smug .So cheer up Gal , have another 
,put a 
on ya face 
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Speaking of simplifying the tax code. If memory serves me, and in the spirit of fairness, the last time the tax code was "simplified" by politicians was in the mid 80's and it was a total disaster. It was made way more complicated and the party responsible for that debacle was the Democrats. So I think partisan politicians need to keep their sweaty hands off the tax code until they're ready to play nice together and REALLY simplify the damn thing.
At least that way people would be able to fill out their own tax returns instead of having to hire a CPA to do it and spend 100's of dollars in the process.
At least that way people would be able to fill out their own tax returns instead of having to hire a CPA to do it and spend 100's of dollars in the process.
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And he's absolutley right!
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ooby_dooby: Don't be a fool Tom. your last comment was insulting my intelligence.
Lets say hypothetically that Romney/Ryan drop the tax rate 1 percent across the board, and to pay for it they eliminate just the mortgage interest deduction. Now lets compare a middle class blue collar worker making $50,000 annually to a CEO making $50 million. ok?
The blue collar worker gets to keep $500.00 more of his pay but he loses about $6,000/year in mortgage int deduction resulting in $5,500 hit to his bottom line. Even if you take the net impact of his tax savings assuming he's in the 25% tax bracket he's still losing $1375. for a total real net loss of ($875.00) I think these numbers are very close to real world.
Now let's look at the CEO, he gets to keep $500,000 and more than likely he doesn't even have a mortgage because his corporation is probably picking up the tab on his huge house so he loses nothing.
Do the math Tom, don't take everything these rich pricks feed you as gospel.
If I had the power I would immediately abolish the tax free status of all religeous entities and make them pay the unearned income tax rate just like Romney and Warren Buffet do of 15%. I think it's high time these guys stop getting a free ride.
Lets say hypothetically that Romney/Ryan drop the tax rate 1 percent across the board, and to pay for it they eliminate just the mortgage interest deduction. Now lets compare a middle class blue collar worker making $50,000 annually to a CEO making $50 million. ok?
The blue collar worker gets to keep $500.00 more of his pay but he loses about $6,000/year in mortgage int deduction resulting in $5,500 hit to his bottom line. Even if you take the net impact of his tax savings assuming he's in the 25% tax bracket he's still losing $1375. for a total real net loss of ($875.00) I think these numbers are very close to real world.
Now let's look at the CEO, he gets to keep $500,000 and more than likely he doesn't even have a mortgage because his corporation is probably picking up the tab on his huge house so he loses nothing.
Do the math Tom, don't take everything these rich pricks feed you as gospel.
If I had the power I would immediately abolish the tax free status of all religeous entities and make them pay the unearned income tax rate just like Romney and Warren Buffet do of 15%. I think it's high time these guys stop getting a free ride.
Ooby I have said this in the past that I am a supporter of the Fair Tax. Everyone pays the same share.
But do you really think that Obama is not going to raise taxes on the middle class? Don't insult my intelligence now. The ACA is tax remember. And middle classer that cannot find a policy is paying a tax to the IRS.
I don't think you see it. Romney and Ryan are going to slash bloated government programs. That is were the small tax refund comes in. It not going to be much. Agreed a 1% or 2% tax refund. But they have not said mortgage interest are in the picture. So you are adding revenues to their program that they are not asking for.
Today, you have 38 cents of every $1 going to repayment of FED foreign debt. You can raise taxes to pay this or you can slash programs to do this. Or some combination. I for one would rather slash the GSA that is partying hardy on our dollar. Slash first and then add taxes if we need to.
President Obama had a chance to do this. He had 4 years to do this.
he had complete control of the government for 2 of those years.
We got 5 trillion in new debt because, because they would not do this.
If Romney comes in and breaks his promise and begins new taxes, throws SSI under the bus, ends medicare as we know it.....all the DEM bullet talking points. I am with you. I am a registered IND and 62 in age. I need SSI and medicare in the near future. I can swing both ways. Make him a one term President.
But Obama broke his promise to us on this debt issue. So I saying the same. Make him a one termer. That is the only way you are going to get their attention. It might be the hammer hit over the head attention getter. But he is young and will likely keep party leadership for four years to make a run in 2016.
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ooby_dooby: Don't be a fool Tom. your last comment was insulting my intelligence.
Lets say hypothetically that Romney/Ryan drop the tax rate 1 percent across the board, and to pay for it they eliminate just the mortgage interest deduction. Now lets compare a middle class blue collar worker making $50,000 annually to a CEO making $50 million. ok?
The blue collar worker gets to keep $500.00 more of his pay but he loses about $6,000/year in mortgage int deduction resulting in $5,500 hit to his bottom line. Even if you take the net impact of his tax savings assuming he's in the 25% tax bracket he's still losing $1375. for a total real net loss of ($875.00) I think these numbers are very close to real world.
Now let's look at the CEO, he gets to keep $500,000 and more than likely he doesn't even have a mortgage because his corporation is probably picking up the tab on his huge house so he loses nothing.
Do the math Tom, don't take everything these rich pricks feed you as gospel.
If I had the power I would immediately abolish the tax free status of all religeous entities and make them pay the unearned income tax rate just like Romney and Warren Buffet do of 15%. I think it's high time these guys stop getting a free ride.
Lets say hypothetically that Romney/Ryan drop the tax rate 1 percent across the board, and to pay for it they eliminate just the mortgage interest deduction. Now lets compare a middle class blue collar worker making $50,000 annually to a CEO making $50 million. ok?
The blue collar worker gets to keep $500.00 more of his pay but he loses about $6,000/year in mortgage int deduction resulting in $5,500 hit to his bottom line. Even if you take the net impact of his tax savings assuming he's in the 25% tax bracket he's still losing $1375. for a total real net loss of ($875.00) I think these numbers are very close to real world.
Now let's look at the CEO, he gets to keep $500,000 and more than likely he doesn't even have a mortgage because his corporation is probably picking up the tab on his huge house so he loses nothing.
Do the math Tom, don't take everything these rich pricks feed you as gospel.
If I had the power I would immediately abolish the tax free status of all religeous entities and make them pay the unearned income tax rate just like Romney and Warren Buffet do of 15%. I think it's high time these guys stop getting a free ride.
There are a million hypotheticals you could apply, but none of them count at the moment. What matters is what kind of formula these two propose and whether or not it's financially feasible. THEN we should all scrutinize the plan objectively, no matter what our party affiliation is. In the meantime, there's no sense going off on a tangent arguing about something that does not exist.
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WhatUwish4: There are a million hypotheticals you could apply, but none of them count at the moment. What matters is what kind of formula these two propose and whether or not it's financially feasible. THEN we should all scrutinize the plan objectively, no matter what our party affiliation is. In the meantime, there's no sense going off on a tangent arguing about something that does not exist.
I'm not arguing or going off on a tangent, I merely gave an example of the effect one possibility (lowering the tax rate and paying for it by eliminating deductions)would have on both the middle class and the wealthy. As you can plainly see it puts the burdan of paying for tax cuts for the wealthy squarely on the shoulders of the middle class. I agree that that any plan to simplify the tax code be studied by qualified economics and tax experts, not by politicians and not connected in any way with an election. That has led to problems in the past.Maybe it's time for a flat tax and throw the whole damn tax code out the window.
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ooby_dooby: I'm not arguing or going off on a tangent, I merely gave an example of the effect one possibility (lowering the tax rate and paying for it by eliminating deductions)would have on both the middle class and the wealthy. As you can plainly see it puts the burdan of paying for tax cuts for the wealthy squarely on the shoulders of the middle class. I agree that that any plan to simplify the tax code be studied by qualified economics and tax experts, not by politicians and not connected in any way with an election. That has led to problems in the past.
Maybe it's time for a flat tax and throw the whole damn tax code out the window.
Maybe it's time for a flat tax and throw the whole damn tax code out the window.
Totally agree!
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WhatUwish4: Totally agree!
Good heavens! Do you think hell just froze over?
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I did have to check the thermostat.
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So many are still drinking the koolaide...
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montemonte: WOW....there's a stranger. Obamarama brought you back...
Don't worry Fin.....he's not going to win....he can't win....I'll kill myself if he wins....NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO..
Don't worry Fin.....he's not going to win....he can't win....I'll kill myself if he wins....NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO..
Strange? Me?
Always have been, always will be..
I wonder how many drinking the O'Bozo koolaide I can piss off?
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HJFinAZ: So many are still drinking the koolaide...
It has that nice Bitter Almond Flavor!Irresistible to many!
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Republican presidential candidate Mitt Romney says he favors keeping all of the Bush-era tax cuts and then adding some more. To pay for these cuts, he would reduce or eliminate some of the tax deductions that many Americans have come to rely on. But his proposals are already facing a lot of resistance.
Romney says he wants to sharply cut income tax rates, which would mean big tax cuts for higher-income people. But he says the cuts would be revenue-neutral. They would bring in the same amount of money to the Treasury because he would also get rid of some of the deductions that fill the tax code.
"I'm looking instead to lower tax rates and limit deductions and exemptions in such a way that we have enterprises, small businesses able to keep more of their capital and at the same time simplify the code," he said last week on Fox Business News.