- Tue Aug 28, 2012 3:42 pm
#11091
Republicans are pitching their tax overhaul plan on the appeal of lower rates and a simpler system -- and figuring that voters won't mind the lack of details about the potential pain.
Romney says he would broaden the tax base by reducing deductions and other tax breaks to ensure his plan generates as much revenue as the current system, and avoids shifting the tax burden from high earners to the rest of the population.
The Romney campaign has resisted explaining how it would do that, even after an Aug. 1 study by the nonpartisan Tax Policy Center showed that achieving all of his goals would be almost impossible, given that the rate cuts for top earners would cost the U.S. government $360 billion in revenue in 2015.
Romney has offered only hints. In remarks overheard at an April 15 fundraiser, he said he was considering eliminating mortgage interest deductions for second homes and the deduction for state and local taxes.
Republican presidential candidate Mitt Romney, vice presidential candidate Paul Ryan and U.S. House members don't say what tax breaks they would limit or eliminate to offset the more than $4 trillion cost of cutting individual and corporate income tax rates. The approach lets Republicans deflect criticism now and iron out the specifics after the election.
So I suppose that we will all have to wait until the elections are over to hear about the details???????
http://finance.yahoo.com/news/republica ... 25z;_ylv=3
Romney says he would broaden the tax base by reducing deductions and other tax breaks to ensure his plan generates as much revenue as the current system, and avoids shifting the tax burden from high earners to the rest of the population.
The Romney campaign has resisted explaining how it would do that, even after an Aug. 1 study by the nonpartisan Tax Policy Center showed that achieving all of his goals would be almost impossible, given that the rate cuts for top earners would cost the U.S. government $360 billion in revenue in 2015.
Romney has offered only hints. In remarks overheard at an April 15 fundraiser, he said he was considering eliminating mortgage interest deductions for second homes and the deduction for state and local taxes.
Republican presidential candidate Mitt Romney, vice presidential candidate Paul Ryan and U.S. House members don't say what tax breaks they would limit or eliminate to offset the more than $4 trillion cost of cutting individual and corporate income tax rates. The approach lets Republicans deflect criticism now and iron out the specifics after the election.
So I suppose that we will all have to wait until the elections are over to hear about the details???????
http://finance.yahoo.com/news/republica ... 25z;_ylv=3
- By johnforbes
- By Administrator