Flanneryaug said:
Not going to make a list of them, but the most noticable one was denying that he wanted a 5 trillion dollar tax cut. He wants a 20% across the board tax cut, which would cost 4.8 trillion over 10 years. He said that taxes wont go up on anyone, and that his tax plan would be revenue neutral, but that is impossible. You cant cut taxes on someone, and not raise them on someone else, and keep it balanced. |
Romney gets hit with this a lot, but I tend to side with Romney on this, even though he hasn't supplied specifics. The problem is that Romney wants to lower rates at the same time as closing a lot of deductions and what not. Right now, most people don't pay anything near the base rate, as they deduct and find loopholes in the tax code. Romney's plan would reduce the rates, but also limit the amount of deductions people can make so that they are paying something closer to the actual rate they are supposed to.
The 5 trillion dollar figure you have there is if he only reduced the rates and nothing else. So right off the bat your statement is false and misleading. It is possible, for example Romney the other day raised the idea of capping deductions at 17k so people couldn't write off more than that. For somebody like Romney who deducts millions of dollars, that would result in a much larger tax burden while somebody like me (i'm a teacher) who doesn't even pay 17k in taxes wouldn't have any problems at all.
I don't think that is a false statement at all by Romney, but I think if he wants to actually keep people from attacking him on it, he probably needs to give some more details.
