A genuine question on Romney's tax plan and the deficit.

Quote from Hawk2007 : As much as liberals pretend that the GOP is all about tax-cuts for the rich, the percentage of people who pay no net federal income tax grew under President Bush with his tax-cuts.

I don't care what POTUS or Congress enacted what, they need to pay more than $0.

Seriously, let's say that they all contributed $500. At 70 Million households that's $35B. It's not gonna fix the deficit or anything but any little bit helps and really I am sure many should be able to pay more than $500.

why not just stop the bullshit wars and being the world police?

Quote from joer316 : why not just stop the bullshit wars and being the world police?

because that would be logical, what the majority of the citizens they are representing actually want, and detrimental to their personal gains.

Quote from adams135 : That can't be right ... Obama said he would cut the deficit in half by the end of his first term .. ergo ... you're facts are wrong.

After becoming President, Obama learned from Reagan and George W. Bush that deficits DON'T matter. So that's why he didn't cut the deficit in half.

Quote from Hawk2007 : As much as liberals pretend that the GOP is all about tax-cuts for the rich, the percentage of people who pay no net federal income tax grew under President Bush with his tax-cuts.

What do you mean by pretend? The Romney tax plan FACTUALLY does give tax cuts to the rich.

http://www.taxpolicycenter.org/Up...Reform.pdf

Quote : Our major conclusion is that a revenue-neutral individual income tax change that incorporates the features Governor Romney has proposed – including reducing marginal tax rates substantially, eliminating the individual alternative minimum tax (AMT) and maintaining all tax breaks for saving and investment – would provide large tax cuts to high-income households, and increase the tax burdens on middle- and/or lower-income taxpayers.

So Obama basically said the same thing I asked in the original post and Romney straight up said he wouldn't do the tax cut if it wasn't neutral, which means the loopholes we're talking about are going to add up to $5 trillion.

Where could he possibly get that money without raising taxes on the middle class? There's literally no way the numbers could add up unless we're talking about the mortgage interest deduction or the health care deduction, which would be the kind of gigantic numbers you'd need to get to FIVE TRILLION DOLLARS.

Is Romney a flat out liar here or am I missing something?

Quote from dynamite : From what I have read the most likely cuts will be: 1) Expanded child tax credit 2) Savers credit 3) Earned Income credit 4) Mortgage interest deduction Of course we will never know unless Romney gets elected as he has stated repeatedly he will not be divulging any further information regarding his tax policy prior to the election. Very strange but unfortunately this is the poor excuse for a democracy we have in the USA today.

well Obama did say we needed to tighten our belts.. He just never said exactly which group's belts were going to tightened. No matter what, one this recession is coming to a close.. we're all going to be paying to make up for it. But bloating the government means we'll be paying for another hundred years+ (because they won't stop spending like drunken sailors).

Quote from loop610bob : Is Romney a flat out liar here or am I missing something?

Romney is great, if you don't like what he says just wait a couple minutes.

At this point who knows what he actually stands for. All I do know, is just about no matter what you believe in, Romney has had or will have that same position, so how can you go wrong.

Quote from DJPlayer : well Obama did say we needed to tighten our belts.. He just never said exactly which group's belts were going to tightened. No matter what, one this recession is coming to a close.. we're all going to be paying to make up for it. But bloating the government means we'll be paying for another hundred years+ (because they won't stop spending like drunken sailors).

Well, he wanted to make the 1% tighten their belts, but conservatism wouldn't let him so it seems to be a classic case of creating a problem and blaming others for it. They're so clever because it works every time!

Quote from LivninSC : I don't care what POTUS or Congress enacted what, they need to pay more than $0. Seriously, let's say that they all contributed $500. At 70 Million households that's $35B. It's not gonna fix the deficit or anything but any little bit helps and really I am sure many should be able to pay more than $500.

I didn't look at the tax return forms, so take that in consideration. But when someone says "they didn't pay anything in taxes", do they literally mean $0.00, or do they mean they didn't have to pay "in" after taxes were filed.

What I mean is that I have taxes taken out of my checks and then at tax time, I file and see if I still owe, I'm even, or I get a refund. Even if I get a refund, I still paid SOME taxes. So what is the bottom line here? Did they really pay $0.00 in taxes?

Quote from Favrerox : I didn't look at the tax return forms, so take that in consideration. But when someone says "they didn't pay anything in taxes", do they literally mean $0.00, or do they mean they didn't have to pay "in" after taxes were filed. What I mean is that I have taxes taken out of my checks and then at tax time, I file and see if I still owe, I'm even, or I get a refund. Even if I get a refund, I still paid SOME taxes. So what is the bottom line here? Did they really pay $0.00 in taxes?

If they don't have taxes taken out of their checks or if they get all that were taken out as a refund they didn't pay any federal income taxes. They didn't contribute to all the programs the federal gov't spends $ on and are in simple terms leeching off those people who do pay federal income taxes.

Quote from LivninSC : If they don't have taxes taken out of their checks or if they get all that were taken out as a refund they didn't pay any federal income taxes. They didn't contribute to all the programs the federal gov't spends $ on and are in simple terms leeching off those people who do pay federal income taxes.

IMO, poor people should simply stop being poor.

Quote from vaultaddict : IMO, poor people should simply stop being poor.

Ya know, I like this and I imagine they also feel the same. Sadly it's gonna take more than a "wish".

Quote from LivninSC : Ya know, I like this and I imagine they also feel the same. Sadly it's gonna take more than a "wish".

Maybe a govt program would help.