HoverBoarder
Graduate Poster
- Joined
- May 18, 2011
- Messages
- 1,667
If I had to put my own money on the line right now, I would say that Mitt Romney will win the election. Not that I want that to be the case, but that is the grim reality that I believe we are now facing.
So given that Romney has promised to add 7 trillion in new spending and pay for it by getting rid of tax breaks on mostly high and middle income Americans, so that they would pay more money to the government (but don't call it a tax increase!). He is outright unapologetically lying about part of his plan if not all of it.
Lying is something that Romney is pretty used to, and there is a pretty hilarious Onion article talking about it here. However as much as it bothers those people who spend the time to fact check, honesty is often not a winning tactic as shown by the first debates. Plus, whether Romney is lying about whatever he wants to or not is probably not going to matter in three weeks, and those of us who are bothered by it will just have to deal with it.
If Romney gets in office, we're going to have to live with the repercussions, and it is probably better to get ourselves ready now so we can mitigate the damage. So what can we do if anything about his tax increases?
Granted we will probably have to have some kind of tax increases, and Obama has been honest about that all along by proposing to have a modest tax increase on the top earners, which will probably cost him the election. However, even if Romney cuts tax breaks, the increase in tax revenue from that would come nowhere near paying for Romney's new spending, much less the deficit we are already in.
Bloomberg Businessweek: Repealing Deductions Pays for 4% Tax Cuts, Study Says
Even if you get rid of some of the tax deductions on the table like household deductions, education deductions, and more, it would represent an extremely small portion of the new spending. Not to mention how that increase in tax spending for largely middle income Americans would impact jobs and hiring.
So where else will Mitt get the rest of the money? He has made it clear that he will be steadfast in not touching any of the tax breaks for the billion dollar profit oil companies.
Can we stop the kind of tax increases and increased spending that Mitt has outlined, or if he is elected, do we not stand a chance?
So given that Romney has promised to add 7 trillion in new spending and pay for it by getting rid of tax breaks on mostly high and middle income Americans, so that they would pay more money to the government (but don't call it a tax increase!). He is outright unapologetically lying about part of his plan if not all of it.
Lying is something that Romney is pretty used to, and there is a pretty hilarious Onion article talking about it here. However as much as it bothers those people who spend the time to fact check, honesty is often not a winning tactic as shown by the first debates. Plus, whether Romney is lying about whatever he wants to or not is probably not going to matter in three weeks, and those of us who are bothered by it will just have to deal with it.
If Romney gets in office, we're going to have to live with the repercussions, and it is probably better to get ourselves ready now so we can mitigate the damage. So what can we do if anything about his tax increases?
Granted we will probably have to have some kind of tax increases, and Obama has been honest about that all along by proposing to have a modest tax increase on the top earners, which will probably cost him the election. However, even if Romney cuts tax breaks, the increase in tax revenue from that would come nowhere near paying for Romney's new spending, much less the deficit we are already in.
Bloomberg Businessweek: Repealing Deductions Pays for 4% Tax Cuts, Study Says
Even if you get rid of some of the tax deductions on the table like household deductions, education deductions, and more, it would represent an extremely small portion of the new spending. Not to mention how that increase in tax spending for largely middle income Americans would impact jobs and hiring.
So where else will Mitt get the rest of the money? He has made it clear that he will be steadfast in not touching any of the tax breaks for the billion dollar profit oil companies.
Can we stop the kind of tax increases and increased spending that Mitt has outlined, or if he is elected, do we not stand a chance?
