Reply #10: Keep in mind that 'no taxes on all types of savings' is far from what Romney is proposing

[Blackhatjack]

John Edwards and others have advocated no taxes on savings accounts.

Romney is talking about no taxes on income from buying and selling capital assets which lead to capital gains, and buying and selling of securities and bonds.

He also is in favor of allowing all estates to go untaxed, not just those worth $5mil or less which covers over 95% of all estates today. Without an estate and gift tax applicable to estates at today's level, you will have constant passing of wealth from one generation to the next without taxation.

Taxes are the cost of providing security and government services. If there is no taxation of investment/captal gains and estates, that leaves only one source of raising the needed tax income to run our government..... wage earners.

That is the truth about Romney's 'tax plan.'

The entire burden of financing our government will fall upon the wage earners.