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Fri Oct 19, 2012, 10:05 PM

Question on Rmoney's tax plan (trolls are welcome to answer)

He says he wants to lower the tax rates to 20% but what about those who's tax rate are already 15% or 10%?

6 replies, 547 views

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Reply Question on Rmoney's tax plan (trolls are welcome to answer) (Original post)
SoutherDem Oct 2012 OP
Angry Dragon Oct 2012 #1
truebluegreen Oct 2012 #2
lunasun Oct 2012 #3
jmowreader Oct 2012 #4
flyguyjake Oct 2012 #5
WhaTHellsgoingonhere Oct 2012 #6

Response to SoutherDem (Original post)

Fri Oct 19, 2012, 10:10 PM

1. I heard it to mean that he would reduce each tax rate by 20%

10% would go down to 8%
15% would go down to 12% etc

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Response to SoutherDem (Original post)

Fri Oct 19, 2012, 10:12 PM

2. Not that I believe a word he says, on any subject, but

I think the "plan" is to lower everyone's taxes by 20%...I'm sure he said that, along with every other possible plan.

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Response to SoutherDem (Original post)

Fri Oct 19, 2012, 11:19 PM

3. Also, did he say 0% on all capital gains last debate?

also I heard when asked, that his idea of middle class income is folks $150K to 300K??
That those are the folks he is talking about when he says he wants to help?
trolls /anyone who knows his plan?

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Response to lunasun (Reply #3)

Sat Oct 20, 2012, 02:24 AM

4. He claims the capital gains thing is only for lower/middle class

A few retirees might be able to exploit this, but most retirees with dividend income have it in pension plans which are taxed as ordinary income.

This is the big problem: Romney has two stated goals: 20 percent rate cut and revenue neutrality. Eliminating every deduction will support a 4 percent rate cut while maintaining neutrality. Plus he wants the huge military spending hike.

His numbers will never work.

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Response to SoutherDem (Original post)

Sat Oct 20, 2012, 02:33 AM

5. Zero on Interest, Dividends & Capital Gains "unearned" income

 

That would effectively wipe out any tax liability for Romney! ZERO

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Response to SoutherDem (Original post)

Sat Oct 20, 2012, 04:50 AM

6. He also said...

...he won't lower tax rates on top income earners but the rich will continue to pay 60% of America's Taxes.

Impossible.

The only way to hold their share constant while lowering the the tax rates for all other Americans is to lower their tax rate, too.

Just another lie.

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