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Response to muriel_volestrangler (Reply #14)

Wed Oct 3, 2012, 03:36 PM

15. It couldn't possibly be revenue neutral because

 

the average taxpayer doesn't have $17,000 in deductions today, so for many taxpayers, this would be a 20% cut in the tax rate and no additional collections. To be revenue neutral, you would have to collect an additional $500,000,000,000 a year, and I don't think this would come close, assuming that Romney still plans to allow billionaires to launder essentially all of their income at the capital gains rate.

But let's say there is a number where it would be revenue neutral -- maybe that is $5000 of deductions. the people who would get hit the hardest would be those who have a mortgage balance over $200,000 and those who give thousands to charity.

That really begs the question why we would be screwing around with this nonsense at this time? If we make it revenue neutral, we don't reduce the debt -- all we do is REDISTRIBUTE WEALTH one way or another. Why are we even talking about that at a time when we have such real problems that need attention?

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