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4dsc

(5,787 posts)
Tue Oct 9, 2012, 04:21 PM Oct 2012

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.
43 replies = new reply since forum marked as read
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Mitt Romney on his tax cut plan: The math works (Original Post) 4dsc Oct 2012 OP
Finish the f*cking story man! What happened? What about the gland? tridim Oct 2012 #1
So, he's basically admitting the math doesn't work! taught_me_patience Oct 2012 #2
Actually it's loading up on dope... rfranklin Oct 2012 #11
In other words, Rmoney STILL has no plan Panasonic Oct 2012 #3
How the fuck is supply side giberish still a talking point Fgiriun Oct 2012 #4
There comes a time when the media Cosmocat Oct 2012 #5
When you flip flop repeatedly is that a flip flop flip? shawn703 Oct 2012 #6
Great one! mimi85 Oct 2012 #13
The same math didn't work for Reagan, and it didn't work for GWB. HuckleB Oct 2012 #7
We need some hypothetical numbers to refute this voodoo economics andym Oct 2012 #8
The math works? BVictor1 Oct 2012 #9
Mitt, Mitt, Mitt...what are we going to do with you? jmowreader Oct 2012 #10
Precisely Sherman A1 Oct 2012 #30
That Ain't Math, Sir: That Is Magick.... The Magistrate Oct 2012 #12
Red Bull economics? nt SunSeeker Oct 2012 #14
adrenaline only lasts for a moment onethatcares Oct 2012 #15
He "Hopes" it will bring in revenue. louis-t Oct 2012 #16
Exactly. "Hope" is not an economic strategy either, Mitt. SunSeeker Oct 2012 #21
He needs to name the deductions he wants to get rid of OKNancy Oct 2012 #17
Of course Romney's math works TexasLeftist Oct 2012 #18
Romney Is Channeling George W. Bush Here DallasNE Oct 2012 #19
He really believes he can grow EC Oct 2012 #20
He doesn't believe it, he's lying. FiveGoodMen Oct 2012 #24
Math is correct. Wealthy people wealthier, everyone else with the shaft, some jtuck004 Oct 2012 #22
"Say the number is $25,000 or $50,000 or whatever the number might be"; hasn't even tried the math muriel_volestrangler Oct 2012 #23
They alwys say they're going to close loopholes Sekhmets Daughter Oct 2012 #25
Ah. A rising tide of adrenaline floats all boats. n/t Bossy Monkey Oct 2012 #26
Princeton Economist Says Obama Campaign Misrepresenting His Paper frankenbak Oct 2012 #27
A line of blow energizes you too, doesnt make it good. bamacrat Oct 2012 #28
Romney Ignoring Math erpowers Oct 2012 #29
Well, it is tax policy so one might think a faith based solution Sherman A1 Oct 2012 #31
Obama has to clearly call out this bullshit. Warren Stupidity Oct 2012 #32
a van Meter NYtoBush-Drop Dead Oct 2012 #33
... and what, exactly, would the growth rate ... surrealAmerican Oct 2012 #34
And Reagan proved deficits don't matter BeyondGeography Oct 2012 #35
...flipp'n, flopp'n LIAR. SoapBox Oct 2012 #36
I believe it. I believe he's going to eliminate the mortgage deduction. truthisfreedom Oct 2012 #37
Mitty rope a dope not working try again. BrainMann1 Oct 2012 #38
The math works all right..........for Mitt and the rest of the 1%, not so much for the rest of us cstanleytech Oct 2012 #39
Trickle down adrenaline? - What a bunch of horsehit from the lying republican pig shit Romney! LaPera Oct 2012 #40
The math works for the 1% that really matter Progressive dog Oct 2012 #41
"The math works because, LOOK! I'm waving my hands in the air! In the air!" tclambert Oct 2012 #42
Locking, sorry, but this is a feature story/analysis. Rhiannon12866 Oct 2012 #43

tridim

(45,358 posts)
1. Finish the f*cking story man! What happened? What about the gland?
Tue Oct 9, 2012, 04:23 PM
Oct 2012
 

taught_me_patience

(5,477 posts)
2. So, he's basically admitting the math doesn't work!
Tue Oct 9, 2012, 04:24 PM
Oct 2012

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

 

rfranklin

(13,200 posts)
11. Actually it's loading up on dope...
Tue Oct 9, 2012, 04:38 PM
Oct 2012

lots and lots of dope!

 

Panasonic

(2,921 posts)
3. In other words, Rmoney STILL has no plan
Tue Oct 9, 2012, 04:25 PM
Oct 2012

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.

Fgiriun

(169 posts)
4. How the fuck is supply side giberish still a talking point
Tue Oct 9, 2012, 04:26 PM
Oct 2012

This is fucking surreal.

Cosmocat

(14,543 posts)
5. There comes a time when the media
Tue Oct 9, 2012, 04:26 PM
Oct 2012

has to call it for what it is.

Seriously.

shawn703

(2,702 posts)
6. When you flip flop repeatedly is that a flip flop flip?
Tue Oct 9, 2012, 04:26 PM
Oct 2012

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

mimi85

(1,805 posts)
13. Great one!
Tue Oct 9, 2012, 04:41 PM
Oct 2012

HuckleB

(35,773 posts)
7. The same math didn't work for Reagan, and it didn't work for GWB.
Tue Oct 9, 2012, 04:26 PM
Oct 2012

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

andym

(5,441 posts)
8. We need some hypothetical numbers to refute this voodoo economics
Tue Oct 9, 2012, 04:32 PM
Oct 2012

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

 

BVictor1

(229 posts)
9. The math works?
Tue Oct 9, 2012, 04:34 PM
Oct 2012

If the math works, where are the numbers?

jmowreader

(50,447 posts)
10. Mitt, Mitt, Mitt...what are we going to do with you?
Tue Oct 9, 2012, 04:38 PM
Oct 2012

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.

Sherman A1

(38,958 posts)
30. Precisely
Tue Oct 9, 2012, 05:34 PM
Oct 2012

Well Stated.....

The Magistrate

(95,237 posts)
12. That Ain't Math, Sir: That Is Magick....
Tue Oct 9, 2012, 04:40 PM
Oct 2012

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

SunSeeker

(51,367 posts)
14. Red Bull economics? nt
Tue Oct 9, 2012, 04:42 PM
Oct 2012

onethatcares

(16,130 posts)
15. adrenaline only lasts for a moment
Tue Oct 9, 2012, 04:43 PM
Oct 2012

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

louis-t

(23,199 posts)
16. He "Hopes" it will bring in revenue.
Tue Oct 9, 2012, 04:45 PM
Oct 2012

Delusion con-artist.

SunSeeker

(51,367 posts)
21. Exactly. "Hope" is not an economic strategy either, Mitt.
Tue Oct 9, 2012, 04:53 PM
Oct 2012

OKNancy

(41,832 posts)
17. He needs to name the deductions he wants to get rid of
Tue Oct 9, 2012, 04:46 PM
Oct 2012

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.

TexasLeftist

(7 posts)
18. Of course Romney's math works
Tue Oct 9, 2012, 04:50 PM
Oct 2012

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

DallasNE

(7,392 posts)
19. Romney Is Channeling George W. Bush Here
Tue Oct 9, 2012, 04:51 PM
Oct 2012

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.

EC

(12,287 posts)
20. He really believes he can grow
Tue Oct 9, 2012, 04:52 PM
Oct 2012

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

FiveGoodMen

(20,018 posts)
24. He doesn't believe it, he's lying.
Tue Oct 9, 2012, 05:10 PM
Oct 2012

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.

 

jtuck004

(15,882 posts)
22. Math is correct. Wealthy people wealthier, everyone else with the shaft, some
Tue Oct 9, 2012, 04:59 PM
Oct 2012

of whom will be buried in it.

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

muriel_volestrangler

(101,146 posts)
23. "Say the number is $25,000 or $50,000 or whatever the number might be"; hasn't even tried the math
Tue Oct 9, 2012, 05:07 PM
Oct 2012

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.

Sekhmets Daughter

(7,515 posts)
25. They alwys say they're going to close loopholes
Tue Oct 9, 2012, 05:13 PM
Oct 2012

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

Bossy Monkey

(15,863 posts)
26. Ah. A rising tide of adrenaline floats all boats. n/t
Tue Oct 9, 2012, 05:17 PM
Oct 2012
 

frankenbak

(4 posts)
27. Princeton Economist Says Obama Campaign Misrepresenting His Paper
Tue Oct 9, 2012, 05:20 PM
Oct 2012

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."

bamacrat

(3,867 posts)
28. A line of blow energizes you too, doesnt make it good.
Tue Oct 9, 2012, 05:22 PM
Oct 2012

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

erpowers

(9,350 posts)
29. Romney Ignoring Math
Tue Oct 9, 2012, 05:30 PM
Oct 2012

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.

Sherman A1

(38,958 posts)
31. Well, it is tax policy so one might think a faith based solution
Tue Oct 9, 2012, 05:37 PM
Oct 2012

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.

 

Warren Stupidity

(48,181 posts)
32. Obama has to clearly call out this bullshit.
Tue Oct 9, 2012, 06:03 PM
Oct 2012

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.

NYtoBush-Drop Dead

(490 posts)
33. a van Meter
Tue Oct 9, 2012, 06:12 PM
Oct 2012

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

surrealAmerican

(11,339 posts)
34. ... and what, exactly, would the growth rate ...
Tue Oct 9, 2012, 06:14 PM
Oct 2012

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

BeyondGeography

(39,276 posts)
35. And Reagan proved deficits don't matter
Tue Oct 9, 2012, 06:30 PM
Oct 2012

SoapBox

(18,791 posts)
36. ...flipp'n, flopp'n LIAR.
Tue Oct 9, 2012, 06:31 PM
Oct 2012

I wouldn't trust you with my trash.

truthisfreedom

(23,113 posts)
37. I believe it. I believe he's going to eliminate the mortgage deduction.
Tue Oct 9, 2012, 06:39 PM
Oct 2012

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

BrainMann1

(460 posts)
38. Mitty rope a dope not working try again.
Tue Oct 9, 2012, 07:33 PM
Oct 2012

cstanleytech

(26,080 posts)
39. The math works all right..........for Mitt and the rest of the 1%, not so much for the rest of us
Tue Oct 9, 2012, 07:34 PM
Oct 2012

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

LaPera

(6,486 posts)
40. Trickle down adrenaline? - What a bunch of horsehit from the lying republican pig shit Romney!
Tue Oct 9, 2012, 07:35 PM
Oct 2012

Progressive dog

(6,861 posts)
41. The math works for the 1% that really matter
Tue Oct 9, 2012, 08:18 PM
Oct 2012

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

tclambert

(11,080 posts)
42. "The math works because, LOOK! I'm waving my hands in the air! In the air!"
Tue Oct 9, 2012, 08:24 PM
Oct 2012

"I is magic!"

Rhiannon12866

(202,961 posts)
43. Locking, sorry, but this is a feature story/analysis.
Tue Oct 9, 2012, 11:33 PM
Oct 2012

Please consider reposting in Politics 2012 or GD. Thanks!

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