Democratic National Convention 2012

[TheMalcolmConnection]

Now, that is something relevant to my interests. I know that Democrats tend to harp on the tax breaks for the wealthy and tax increase for the middle class. Is this true? If so, does anyone have any websites or facts to back that up?

[NC_Skins]

Originally Posted by TheMalcolmConnection

Now, that is something relevant to my interests. I know that Democrats tend to harp on the tax breaks for the wealthy and tax increase for the middle class. Is this true? If so, does anyone have any websites or facts to back that up?

FactCheck.org : Romney’s Impossible Tax Promise

The TPC’s detailed calculations showed that — before any reduction of tax deductions — Romney’s plan would result in 99.97 percent of those making $1 million a year or more getting a tax cut (compared with what they pay now) and that the cuts would average $256,603 each. But further down the income scale, the benefit would be considerably less. For those making between $50,000 and $75,000, for example, 94 percent would see a tax cut, and it would average $1,226, before any loss of deductions or credits. These cuts are all in addition to those enacted during the Bush administration, and Romney would not allow those to expire as scheduled.

The Romney campaign insists that economic growth will somehow make its tax plan work as promised, but we’ve seen nothing to support that. Romney’s experts predict about a 1 percent increase in growth. Looney, one of the authors of the Tax Policy Center study, calls that “an implausibly large estimate,” but nevertheless ran the study again assuming that growth rate and an additional 12 million jobs. The result, he told ABC News, is that it would offset only about 15 percent of Romney’s revenue loss from individual tax cuts.

“Even in that case, there’s still a shift in the tax burden from high-income taxpayers to low- and or middle-income taxpayers,” Looney told ABC News. “It’s smaller, but it would require a net tax increase on the middle class.”

So basically, it will end up with the middle class having a increase on their taxes (due to deductions being closed ...mort interests, etc) while the rich get a 250k tax break. For Romney to be such a great business man, his numbers have never added up.

[TheMalcolmConnection]

Originally Posted by NC_Skins

FactCheck.org : Romney’s Impossible Tax Promise










So basically, it will end up with the middle class having a increase on their taxes (due to deductions being closed ...mort interests, etc) while the rich get a 250k tax break. For Romney to be such a great business man, his numbers have never added up.

Nice, facts are good. Thanks!

[Slingin Sammy 33]

Originally Posted by TheMalcolmConnection

Now, that is something relevant to my interests. I know that Democrats tend to harp on the tax breaks for the wealthy and tax increase for the middle class. Is this true? If so, does anyone have any websites or facts to back that up?

TMC, FactCheck is quite biased towards Obama and they cite the Tax Policy Center (another left-biased group) analysis of Romney's plan....which has been shown to be speculation rather than fact. Here is a good read from the WSJ which debunks the Dems claims on RomneyHood (robbing from the Middle Class to feed the Rich).

Review & Outlook: The Romney Hood Fairy Tale - WSJ.com

[NC_Skins]

Originally Posted by Slingin Sammy 33

TMC, FactCheck is quite biased towards Obama and they cite the Tax Policy Center (another left-biased group) analysis of Romney's plan....which has been shown to be speculation rather than fact. Here is a good read from the WSJ which debunks the Dems claims on RomneyHood (robbing from the Middle Class to feed the Rich).

Review & Outlook: The Romney Hood Fairy Tale - WSJ.com

Wait, now the Tax Policy Center is a "left-biased" group? Wa..wwha...what?

You guys are seriously desperate. I mean absolutely desperate. TPC is a non-partisan group. That means they don't care about affiliation, they care about numbers.

Didn't the WSJ get bought out by Faux New's Murdoch? Would explain this trash.

[Slingin Sammy 33]

Originally Posted by NC_Skins

Wait, now the Tax Policy Center is a "left-biased" group? Wa..wwha...what?

You guys are seriously desperate. I mean absolutely desperate. TPC is a non-partisan group. That means they don't care about affiliation, they care about numbers.

Didn't the WSJ get bought out by Faux New's Murdoch? Would explain this trash.

One of the guys that did the analysis in question was an Obama staffer, the other has been a Brookings Institute guy. There shouldn't be much question Brookings and TPC lean left.

[JoeRedskin]

Originally Posted by NC_Skins

Wait, now the Tax Policy Center is a "left-biased" group? Wa..wwha...what?

You guys are seriously desperate. I mean absolutely desperate. TPC is a non-partisan group. That means they don't care about affiliation, they care about numbers.

Didn't the WSJ get bought out by Faux New's Murdoch? Would explain this trash.

TPC is a joint venture of the Brookings Institute and the Urban Center. If your assertion is that the Brookings Institute is not left-leaning, I would respectfully disagree. I am unfamiliar with Urban Center, but a cursory review of its web-page seems to indicate (to me) it has its origins in LBJ's Great Society legislation.

I make no assertions as to TPC's accuracy but, it seems to me, the assertion that they are "left leaning" is well founded.

Malcolm, good luck finding "neutral" reporting or research. Everyone has a spin/agenda and facts omitted are just as important as facts considered. Read, inquire and seek your own truth. Being informed these days is hard work given the vast amount of information that exists and can be manipulated.

[NC_Skins]

Bottom line about Romney's tax plan is that he's lying and the numbers dont' add up. He can't keep all the promises that he says in his tax plan and it work out.


PolitiFact | Mitt Romney's plan would cut taxes for millionaires while raising them for the middle class, says Martin O'Malley

The Tax Policy Center had to choose on its own what exemptions and deductions to get rid of, but the analysts tried to select the ones that most conformed to the principles Romney has outlined. (The Tax Policy Center refers to them as "tax preferences.")

Still, the math didn’t work. If the tax plan is to generate the same amount of revenue and offer across-the-board tax cuts, some exemptions for the middle class would go away. "As a result, a revenue-neutral reform within these constraints would cut taxes at the high-end while raising them in the middle and perhaps bottom," wrote Donald Marron, the center’s director, in a blog post about the study.

But Romney’s tax plan is vague and doesn’t appear to be able to keep all its promises. Romney has said he wants to eliminate deductions while cutting tax rates for everyone; bring in the same amount of revenue for the government; keep a higher burden on the wealthy; and keep low rates on savings and investments. A credible, independent analysis shows these goals are in tension with each other and don’t add up. The Romney campaign has repeatedly declined to offer more specifics.

Doesn't take a genius to realize his tax plan is full of shit. Pretty much like he is as a candidate.