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Tue Oct 9, 2012, 04:21 PM

Mitt Romney on his tax cut plan: The math works

This discussion thread was locked as off-topic by Rhiannon12866 (a host of the Latest Breaking News forum).

Source: Des Moines Register

He gave a spirited rebuttal to Obama’s charges, saying he would cut the federal income tax rates by 20 percent for all taxpayers, reduce the corporate rate from 35 percent to 25 percent, simplify the tax code, close loopholes, get rid of some deductions – and that the adrenaline injected into the economy from these changes will bring in enough revenue that federal debt wouldn’t deepen.

Read more: http://blogs.desmoinesregister.com/dmr/index.php/2012/10/09/mitt-romney-on-his-tax-cut-plan-the-math-works/article



SO now its adrenaline that will drive our economic growth. Give me a break please.

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Reply Mitt Romney on his tax cut plan: The math works (Original post)
4dsc Oct 2012 OP
tridim Oct 2012 #1
taught_me_patience Oct 2012 #2
rfranklin Oct 2012 #11
Panasonic Oct 2012 #3
Fgiriun Oct 2012 #4
Cosmocat Oct 2012 #5
shawn703 Oct 2012 #6
mimi85 Oct 2012 #13
HuckleB Oct 2012 #7
andym Oct 2012 #8
BVictor1 Oct 2012 #9
jmowreader Oct 2012 #10
Sherman A1 Oct 2012 #30
The Magistrate Oct 2012 #12
SunSeeker Oct 2012 #14
onethatcares Oct 2012 #15
louis-t Oct 2012 #16
SunSeeker Oct 2012 #21
OKNancy Oct 2012 #17
TexasLeftist Oct 2012 #18
DallasNE Oct 2012 #19
EC Oct 2012 #20
FiveGoodMen Oct 2012 #24
jtuck004 Oct 2012 #22
muriel_volestrangler Oct 2012 #23
Sekhmets Daughter Oct 2012 #25
Bossy Monkey Oct 2012 #26
frankenbak Oct 2012 #27
bamacrat Oct 2012 #28
erpowers Oct 2012 #29
Sherman A1 Oct 2012 #31
Warren Stupidity Oct 2012 #32
NYtoBush-Drop Dead Oct 2012 #33
surrealAmerican Oct 2012 #34
BeyondGeography Oct 2012 #35
SoapBox Oct 2012 #36
truthisfreedom Oct 2012 #37
BrainMann1 Oct 2012 #38
cstanleytech Oct 2012 #39
LaPera Oct 2012 #40
Progressive dog Oct 2012 #41
tclambert Oct 2012 #42
Rhiannon12866 Oct 2012 #43

Response to 4dsc (Original post)

Tue Oct 9, 2012, 04:23 PM

1. Finish the f*cking story man! What happened? What about the gland?

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Response to 4dsc (Original post)

Tue Oct 9, 2012, 04:24 PM

2. So, he's basically admitting the math doesn't work!

and it's only "magical" & "adrenaline fueled" growth that makes his plan revenue neutral.

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Response to taught_me_patience (Reply #2)

Tue Oct 9, 2012, 04:38 PM

11. Actually it's loading up on dope...

 

lots and lots of dope!

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Response to 4dsc (Original post)

Tue Oct 9, 2012, 04:25 PM

3. In other words, Rmoney STILL has no plan

 

and won't reveal it.

He's going to use the Bain style presidency to outsource about 75% of our jobs to China and pocket the rest of the cash.

Well, fuck Rmoney.

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Response to 4dsc (Original post)

Tue Oct 9, 2012, 04:26 PM

4. How the fuck is supply side giberish still a talking point

This is fucking surreal.

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Response to 4dsc (Original post)

Tue Oct 9, 2012, 04:26 PM

5. There comes a time when the media

has to call it for what it is.

Seriously.

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Response to 4dsc (Original post)

Tue Oct 9, 2012, 04:26 PM

6. When you flip flop repeatedly is that a flip flop flip?

He was for reducing taxes on the highest income wage earners before he was against it before he was for it again?

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Response to shawn703 (Reply #6)

Tue Oct 9, 2012, 04:41 PM

13. Great one!

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Response to 4dsc (Original post)

Tue Oct 9, 2012, 04:26 PM

7. The same math didn't work for Reagan, and it didn't work for GWB.

But the magic math will work now! It's 2012!

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Response to 4dsc (Original post)

Tue Oct 9, 2012, 04:32 PM

8. We need some hypothetical numbers to refute this voodoo economics

Plus this supposedly ends up revenue neutral-- how do we pay down the deficit.

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Response to 4dsc (Original post)

Tue Oct 9, 2012, 04:34 PM

9. The math works?

 

If the math works, where are the numbers?

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Response to 4dsc (Original post)

Tue Oct 9, 2012, 04:38 PM

10. Mitt, Mitt, Mitt...what are we going to do with you?

Ronald Reagan tried this in August 1981 and it did two things: shrank the GDP by four percent in its first year and spiked the U3 unemployment rate (the "low" rate, not the "high" U6 rate y'all like to smack Obama around with) to 10.8 percent within 16 months.

Flat out, guys: if you are going to try stimulating the economy with a tax cut, you need two things for it to work. You need a substantial tax cut that will still leave enough money in the government's checking account for it to do business, and you need something game-changing for the taxpayers to spend the money on. When Kennedy did his cut in the 1960s, he started out with a top tax rate of 90 percent which he reduced to 70, and we were at the dawn of the computer age. So by cutting the shit out of taxes, Kennedy made it possible for businesses to start computerizing, creating millions of new jobs, and by leaving taxes fairly high after the cut was completed, the government still had money to build bridges and shoot men into outer space.

As we stand now, our government, which means Everyone In America, is Poor, and if Romney starts hacking and slashing taxes just because he's tired of his wife demanding a new watch every time they fly to Switzerland to visit their money our government will be More Poor.

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Response to jmowreader (Reply #10)

Tue Oct 9, 2012, 05:34 PM

30. Precisely

Well Stated.....

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Response to 4dsc (Original post)

Tue Oct 9, 2012, 04:40 PM

12. That Ain't Math, Sir: That Is Magick....

"Romney loves America like a tick loves a dog."

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Response to 4dsc (Original post)

Tue Oct 9, 2012, 04:42 PM

14. Red Bull economics? nt

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Response to 4dsc (Original post)

Tue Oct 9, 2012, 04:43 PM

15. adrenaline only lasts for a moment

then you're tireder than a beaten block mason on a sunny day in south Florida after a 14 hour day.

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Response to 4dsc (Original post)

Tue Oct 9, 2012, 04:45 PM

16. He "Hopes" it will bring in revenue.

Delusion con-artist.

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Response to louis-t (Reply #16)

Tue Oct 9, 2012, 04:53 PM

21. Exactly. "Hope" is not an economic strategy either, Mitt.

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Response to 4dsc (Original post)

Tue Oct 9, 2012, 04:46 PM

17. He needs to name the deductions he wants to get rid of

I'm sure many middle class folks would throw tomatoes at him if they lost their mortgage interest deduction or the education deductions.
For my family those were the two big ones. Oh, and IRA contributions.

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Response to 4dsc (Original post)

Tue Oct 9, 2012, 04:50 PM

18. Of course Romney's math works

It works because of the one thing that he's NOT telling us. When he was Governor of Massachusetts, he didn't have to raise taxes either. He just raised FEES. Suddenly, license that was $10 to obtain become $100, small businesses saw their operating costs skyrocket, and Massachusetts families got squeezed.

If Mitt Romney is elected, we'll no longer be the Land of the Free... but the Land of the FEE.

http://texasleftist.blogspot.com/2012/10/romneys-massachusetts-land-of-fee.html

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Response to 4dsc (Original post)

Tue Oct 9, 2012, 04:51 PM

19. Romney Is Channeling George W. Bush Here

Did GDP take off under Bush? No, the only thing that took off was the deficit so the math absolutely does not work. The problem with the Romney plan is that it will decrease the velocity of money so there will be no adrenaline injected into the economy. Let CBO score the Romney plan -- oh, wait, that would require some details and Romney will never go there. Smoke and mirrors didn't work the last time and smoke and mirrors won't work this time either.

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Response to 4dsc (Original post)

Tue Oct 9, 2012, 04:52 PM

20. He really believes he can grow

the economy enough to absorb those cuts? The economy couldn't even grow enough to cover Bush's tax cuts. This guy is dreaming.

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Response to EC (Reply #20)

Tue Oct 9, 2012, 05:10 PM

24. He doesn't believe it, he's lying.

He hopes we'll believe it.

He has the M$M helping him sell it.

GOP voters are stupid, GOP strategists are evil, but not stupid.

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Response to 4dsc (Original post)

Tue Oct 9, 2012, 04:59 PM

22. Math is correct. Wealthy people wealthier, everyone else with the shaft, some

of whom will be buried in it.

Mi$$ RobMe. If he's your guy, you're on your own.

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Response to 4dsc (Original post)

Tue Oct 9, 2012, 05:07 PM

23. "Say the number is $25,000 or $50,000 or whatever the number might be"; hasn't even tried the math

Math is not "I expect there could be a way of making this do what I say, but I haven't bothered working it out yet, and so I'll pull a a number out of my arse, with a 'whatever' thrown in for good measure". People who have 'done the math' know it can't work.

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Response to 4dsc (Original post)

Tue Oct 9, 2012, 05:13 PM

25. They alwys say they're going to close loopholes

And never do...where the hell do they think this debt came from I wonder...

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Response to 4dsc (Original post)

Tue Oct 9, 2012, 05:17 PM

26. Ah. A rising tide of adrenaline floats all boats. n/t

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Response to 4dsc (Original post)

Tue Oct 9, 2012, 05:20 PM

27. Princeton Economist Says Obama Campaign Misrepresenting His Paper

 

Princeton Economist professor Harvey Rosen says that the Obama campaign is misrepresenting his paper on Romney's tax plan: "I can’t tell exactly how the Obama campaign reached that characterization of my work."

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Response to 4dsc (Original post)

Tue Oct 9, 2012, 05:22 PM

28. A line of blow energizes you too, doesnt make it good.

What a dumbass. Still can't give examples of loopholes or deductions. Probably because they affect mainly the middle class.

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Response to 4dsc (Original post)

Tue Oct 9, 2012, 05:30 PM

29. Romney Ignoring Math

Romney admitted in this article that he is ignoring math in order to make his plan work. Romney ignores math in the present and in the past.

Romney ignores math in the present by stating that he does not start with math. In the article Romney makes this statement:

“Meaning, I don’t start off with the math and then say, ‘Oh, does this actually help or hurt?’ No, no. I start off with a very fundamental principle, which is we want to reduce the burden on middle-income taxpayers, and we’re not going to provide a tax break to high-income taxpayers. That’s the foundation. And then there’s flexibility as to how to do that.”

So, Romney and his team do not say we want to give a 20% tax cut how will the math work out. They say we want to give a 20% tax cut we'll figure it out.

Romney later goes on to ignore math in the past by saying that he looked to Ronald Reagan as an example for his current tax cut policy. Romney fails to take into account the fact that during the Reagan presidency there were deficits and the debt increased. Reagan and company failed to find enough revenue from other sources to make up for the lost tax revenue.

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Response to erpowers (Reply #29)

Tue Oct 9, 2012, 05:37 PM

31. Well, it is tax policy so one might think a faith based solution

might not be the best idea. Starting with a principle and hoping the math works out is a faith based solution which has been tried far too many times and failed each one of them.

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Response to 4dsc (Original post)

Tue Oct 9, 2012, 06:03 PM

32. Obama has to clearly call out this bullshit.

He cannot just talk sense to the american people. He has to say clearly, and with no ambiguity or nuance, that Romney is wishing away the huge shortfall in revenue his new tax cuts will cause.

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Response to 4dsc (Original post)

Tue Oct 9, 2012, 06:12 PM

33. a van Meter

Home of the late, great Bob Feller. RIP, Bob.

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Response to 4dsc (Original post)

Tue Oct 9, 2012, 06:14 PM

34. ... and what, exactly, would the growth rate ...

... need to be for that to work? I'm guessing somewhat higher than this nation has ever seen.

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Response to 4dsc (Original post)

Tue Oct 9, 2012, 06:30 PM

35. And Reagan proved deficits don't matter

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Response to 4dsc (Original post)

Tue Oct 9, 2012, 06:31 PM

36. ...flipp'n, flopp'n LIAR.

I wouldn't trust you with my trash.

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Response to 4dsc (Original post)

Tue Oct 9, 2012, 06:39 PM

37. I believe it. I believe he's going to eliminate the mortgage deduction.

He's going to saddle the middle class with his 20% tax cuts for the 1%.

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Response to 4dsc (Original post)

Tue Oct 9, 2012, 07:33 PM

38. Mitty rope a dope not working try again.

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Response to 4dsc (Original post)

Tue Oct 9, 2012, 07:34 PM

39. The math works all right..........for Mitt and the rest of the 1%, not so much for the rest of us

and especially for those of us like myself who are in the bottom 20%.

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Response to 4dsc (Original post)

Tue Oct 9, 2012, 07:35 PM

40. Trickle down adrenaline? - What a bunch of horsehit from the lying republican pig shit Romney!

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Response to 4dsc (Original post)

Tue Oct 9, 2012, 08:18 PM

41. The math works for the 1% that really matter

They get tax cuts and then they can loan it back to the government. Free ride for the wealthy.

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Response to 4dsc (Original post)

Tue Oct 9, 2012, 08:24 PM

42. "The math works because, LOOK! I'm waving my hands in the air! In the air!"

"I is magic!"

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Response to 4dsc (Original post)

Tue Oct 9, 2012, 11:33 PM

43. Locking, sorry, but this is a feature story/analysis.

Please consider reposting in Politics 2012 or GD. Thanks!

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