republicon math

[billy.pilgrim]

someone explain to me how eliminating deductions to make up for lowering the tax rate is in any way lowering taxes

Assuming 5 zillion in taxes

Cut tax rates by 20% = tax revenue reduced to 4 zillion

Eliminate deductions by a 1 zillion dollars to return revenues to 5 zillion = the original 5 zillion in taxes



and the crowd chants ryan romney ryan romney ryan romney



(Is there a “stupid” requirement for being a republicon)

[bannination]

someone explain to me how eliminating deductions to make up for lowering the tax rate is in any way lowering taxes

Assuming 5 zillion in taxes

Cut tax rates by 20% = tax revenue reduced to 4 zillion

Eliminate deductions by a 1 zillion dollars to return revenues to 5 zillion = the original 5 zillion in taxes



and the crowd chants ryan romney ryan romney ryan romney



(Is there a “stupid” requirement for being a republicon)

Well since they've not really posted the details of their tax plan... who knows.... I'd guess that by doing it that way it lessens the burden on the poor 'rich folk'.

[Colonel Taylor]

someone explain to me how eliminating deductions to make up for lowering the tax rate is in any way lowering taxes

Assuming 5 zillion in taxes

Cut tax rates by 20% = tax revenue reduced to 4 zillion

Eliminate deductions by a 1 zillion dollars to return revenues to 5 zillion = the original 5 zillion in taxes



and the crowd chants ryan romney ryan romney ryan romney



(Is there a “stupid” requirement for being a republicon)

Well since they've not really posted the details of their tax plan... who knows.... I'd guess that by doing it that way it lessens the burden on the poor 'rich folk'.

I think I have seen it right next to all the Budget proposals the Senate libs have put forth.

[billy.pilgrim]

guess the kernel missed the ryan/romney budget plan

[bannination]

I think I have seen it right next to all the Budget proposals the Senate libs have put forth.

http://www.whitehouse.gov/omb/budget/Overview


Was that so hard? Now back to the topic.

[mama]

$2-$2=$gazillion 0:-?> mittster

[mama]

*will report self*

[billy.pilgrim]

$2-$2=$gazillion 0:-?> mittster

and creates zillions and zillions of jobs














































in china




.

[Tertius]

someone explain to me how eliminating deductions to make up for lowering the tax rate is in any way lowering taxes

Assuming 5 zillion in taxes

Cut tax rates by 20% = tax revenue reduced to 4 zillion

Eliminate deductions by a 1 zillion dollars to return revenues to 5 zillion = the original 5 zillion in taxes



and the crowd chants ryan romney ryan romney ryan romney



(Is there a “stupid” requirement for being a republicon)

Many deductions are nothing more than an industry subsidy. For example the home mortgage interest deduction subsidizes the banking, real estate, building, durable goods, building supplies industries. I may have missed some. That deduction is why many people trade up unnecessarily for space or quality that is unnecessary.

Without the deduction homeowners would be far more motivated to own a house mortgage free. After that they would be more focused on retirement security.

When my sister and I were in college parents and students figured some way to pay for college. Today most middle income parents have a hard time getting all their children educated. I think this is why far too many parents see college as their children's responsibility. So graduates face crazy debts. (Bad major choices do not help. But that os for another discussion.) Regardless student loan deductions subsidize colleges and banking.

I must admit the student loan deduction is more complicated than the home mortgage subsidy.

[billy.pilgrim]

someone explain to me how eliminating deductions to make up for lowering the tax rate is in any way lowering taxes

Assuming 5 zillion in taxes

Cut tax rates by 20% = tax revenue reduced to 4 zillion

Eliminate deductions by a 1 zillion dollars to return revenues to 5 zillion = the original 5 zillion in taxes



and the crowd chants ryan romney ryan romney ryan romney



(Is there a “stupid” requirement for being a republicon)

Many deductions are nothing more than an industry subsidy. For example the home mortgage interest deduction subsidizes the banking, real estate, building, durable goods, building supplies industries. I may have missed some. That deduction is why many people trade up unnecessarily for space or quality that is unnecessary.

Without the deduction homeowners would be far more motivated to own a house mortgage free. After that they would be more focused on retirement security.

When my sister and I were in college parents and students figured some way to pay for college. Today most middle income parents have a hard time getting all their children educated. I think this is why far too many parents see college as their children's responsibility. So graduates face crazy debts. (Bad major choices do not help. But that os for another discussion.) Regardless student loan deductions subsidize colleges and banking.

I must admit the student loan deduction is more complicated than the home mortgage subsidy.

turdius, I absolutely agree that many deductions are nothing but corprate welfare and should be eliminated, but you missed the point (again)

teabag crowd screams cut taxes cut taxes
ryan romney screams, boy I have a plan for you
(que smoke and mirrors 27/7 by faux news)
teabag crowd screams ryan romney, ryan rimney, ryan romney

[Tertius]

You do understand not letting taxes increase is not a tax cut.

[Bungalow Bill]

Mittman is depending on the math of there's a sucker born every minute. Lower the tax
rates by 20%, but don't tell anyone which deductions will be elimianted or even if these
eliminations will be enough to bring in the same revenue as the taxes. From a political
point of view, I can understand one doesn't want to deal in specifics, but this just goes
to show that Mitt is just another pol and a pretty math challenged one too. Big surprise.

[Tertius]

There are many options for removing deductions.

[Bungalow Bill]

Too bad Mittman won't mention any of them or say if they will cover lost tax revenue. Typical pol
smoke and mirrors, which only an idiot would buy without any more details.

[Tertius]

Too bad Mittman won't mention any of them or say if they will cover lost tax revenue. Typical pol
smoke and mirrors, which only an idiot would buy without any more details.

It has been said several times during discussions "means testing." This is not a dictatorship. Congress will be the group that as in the details as always.

Where are Obama's plans for the next four years. He is more general than Romney. Obama failed to do almost everything he promised in his campaign four years ago. Where he did men are dying for his mistakes.

[billy.pilgrim]

There are many options for removing deductions.

again - what good is lowering tax rates offset by removing deductions

I could care less about who names what with which word, if the govt collects the same amount of money from me - the government collects the same amount of money from me

all this pantie wring about taxes is a sham anyway. runnie reagan started this crap and our economy and country has been in the tank ever since.

the last time the rich ran their tinkle down theory and stole the economy from the middle class, FDR had to raise income tax rates into the 90s (I think it was 94%) to repair the republicon damage, and we built the strongest middle class and ran the strongest economy in the world. reagan and you kool-air suckers seem to be intent on destroying it again

[Tertius]

Eliminating deductions and lowering taxes give all taxpayers more freedom. No longer is there an incentive to buy a bigger house to reduce your yearly tax liability. The incentive then becomes to buy the house you need and pay it off. Then all there is left to do is eliminate property taxes starting with school taxes.

[billy.pilgrim]

Eliminating deductions and lowering taxes give all taxpayers more freedom. No longer is there an incentive to buy a bigger house to reduce your yearly tax liability. The incentive then becomes to buy the house you need and pay it off. Then all there is left to do is eliminate property taxes starting with school taxes.

other than your memories of always being picked last, what is it that you don't like about schools?

[Bungalow Bill]

Means testing. And how much revenue will that bring in? Romney is just giving out the same old
right wing rhetoric, far short of a plan. Reduce tax rates by 20% and well, somehow, not sure how,
we'll make the revenue up. Yeah, right. Guy's a joke. And if his plan is revenue neutral as he says,
how is he going to reduce the deficit? But in the end, it will be up to Congress. Hopefully they'll see
his "plan" as the sham it is. They're dying for chicken hawk Dumbya's mistakes.