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Monday, October 24, 2016

Of Course, Mitt’s New Tax Plan Gives More To The Rich And Still Doesn’t Add Up

During Tuesday night’s debate Mitt Romney was asked if numbers in his tax plan add up.

“Well of course they add up,” Romney replied, testily. He then listed all the budgets he’s balanced—running the Olympics (with help from the federal government), running Massachusetts (with help from the federal government) and running Bain Capital (with help from the federal government).

Of course, no study has proven that the numbers add up.

Despite insisting the numbers add up, Romney began brainstorming the actual numbers later in the debate, “And so, in terms of bringing down deductions, one way of doing that would be say everybody gets — I’ll pick a number — $25,000 of deductions and credits, and you can decide which ones to use. Your home mortgage interest deduction, charity, child tax credit, and so forth, you can use those as part of filling that bucket, if you will, of deductions.”

The Tax Policy Center, a non-partisan group sometimes cited by the Romney campaign, looked at Romney’s new plan and discovered… the math doesn’t add up. At the most Romney’s new plan would pay for $1.7 trillion of the $5 trillion in cuts he proposes. And the cuts would mostly benefit high-income taxpayers, of course.

According to Roberton Williams of the Tax Policy Center, “…Romney will need to do much more than capping itemized deductions to pay for the roughly $5 trillion in rate cuts and other tax benefits he has proposed.”

The math doesn’t add up. Just don’t expect Mitt Romney to ever admit that.

Photo credit: AP Photo/Alex Brandon

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Copyright 2012 The National Memo
  • How is it possible that Romney can just lie and lie and lie and yet Republicans believe him? Or is it that they KNOW he is lying and don’t care, as long as it gets them a sniff of the White House?

    Romney was FOR a Woman’s right to choose (because his Mother was) but now he’s against it in all circumstances.. He took Government money to bail him out of the problems with Salt Lake, a bailout for Bain Capital and yet he’s ANTI Government handouts for those in need, who have lost their jobs???

    He has run good businesses into the groud and stolen their retirement funds to line his own pockets and sent those jobs to China and India, yet he rails that Obama hasn’t done enough to create jobs in the USA???? He is the very DEFINITION of hypocrisy…

    America is the only country in the World, where Millionaires are jealous of food stamp recipients… Does that make any sense at all in a sane Universe????

    • Shaneswife

      Republicans don’t believe Mitt Romney they just hate Barack Obama.

      • Diogenes67

        They just want to get the White House. Any old white guy in a nice suit, who will do as he’s told will do.

  • nobsartist

    there is a common thread among republiCONs. they are unable to accomplish anything on their own. President Obama fixed the mess that they created in spite of their treasonous obstructionist endeavors. They know that during the next 4 years, our economy will recover and then they can take full credit for it while having to do nothing.

    they are desperate. willard is a failure just like bush and the other bush and reagun. the last thing they want is for someone to reverse the policies enacted by the senile idiot and his spoiled half wit enablers.

    just imagine the heads exploding if President Obama reversed reaguns failed health care bill of 1982 and made all “for profit” health care illegal and put all of the useless, crime ridden “health insurance” companies out of business.

    imagine all of those useless parasites and the shareholders out on the street like some poor blue collar manufacturing laborer.

    somehow, it would feel nice to see a bunch of willards supporters living on food stamps.
    former failed “venture capitalists” that went broke because companies that they plundered went broke.

    you know, like in the real world.