Make Mitt Romney’s tax plan add up!

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deleted15807

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It's really pretty much established Romney's 'economic plan' is pure fluff. He won't say what loopholes he will close to make it work. The question is can you make it work?

Click the link and do the puzzle after the article. Did you make the math work?


Make It Work

I made it work but the only way I could was to enact a Value Added Tax and a Carbon Tax both taxes would be extrememly unpopular and would never pass.
 

Fuzzy_

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Fuzzy was short $191 billion after:


  • Limiting mortgage interest deductions
  • Limiting charitable deductions
  • Limiting state/local deductions
  • Limiting college savings deductions
  • Eliminating private jet credits
  • Eliminating oil, coal and gas subsidies
  • Imposing a Carbon tax
  • Increasing gas taxes by 25 cents
  • Increasing alcohol tax by $16/proof gallon
About half of this was the carbon tax.

Fuzzy loves charities, but 100% write-offs are ridiculous.
 

TurkeyWithaSunburn

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"You have exceeded the revenue goal by $574.8 billion."
Select cut everything and tax everything else and you'll make it work with flying colors!

Of course that's not palatable, but it could work - on a planet far far away.
 
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deleted15807

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So far you've all failed :smile: So how is Romney going to make it work? Where are those Romney voters?
 

Bardox

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The plan doesn't have to add up nor does it really have to exist. As grover said at the republican convention, they are just looking for someone that can hold a pen and sign his name.
 

MichiganRico

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The Romney team contends the "hole" in their tax plan will be filled by increased revenues generated by improved employment and overall GDP growth. (The same identical rationale used to justify the Reagan and Bush taxcuts.) Every reputable economist takes the same stance on taxcuts: They NEVER pay for themselves and consequently increase deficits. Just ask former President G.H.W. Bush--who courageously supported tax increases despite his "read my lips" pledge...and lost re-election. (If any Kennedy wants to write a new Profiles in Courage, please include Bush 41, who characterized supply-side "trickle down" tax policy as "voodoo economics.")

Listen to Ben Stein who is a Republican fiscal conservative, "The trouble is that we're not taxed too much, we're taxed too little."
 

Fuzzy_

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The Romney team contends the "hole" in their tax plan will be filled by increased revenues generated by improved employment and overall GDP growth. (The same identical rationale used to justify the Reagan and Bush taxcuts.) Every reputable economist takes the same stance on taxcuts: They NEVER pay for themselves and consequently increase deficits.

^This. And the US is already in the midst of the Bush Tax cuts which are clearly not working (and Obama is taking the heat). These Bush cuts may get extended. :confused:

And the theorized growth from these tax cuts doesn't happen until years down the road: factories and businesses aren't built overnight. What about all of the interest on the public debt that has accumulated during that time? This could be well over $.5 trillion per year if interest rates rise even a smidgeon.

Reagan passed his tax reform bill in 1986. The worst recession that the US saw at that time happened in 1990. Coincidence? From both a practical and theoretical perspective, this shit don't trickle.
 
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deleted15807

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There's mention of a "narrow" sales tax.
Whaddat?

If you hover over to the right of the item it gives you a description. In this case: This would impose a 5 percent VAT on most items but exclude rent, food, health care, and other essential goods.