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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsNYT on Romney's "increasingly desperate attempts" to dismiss a study of his tax plan
Romneys Tax Hike
By DAVID FIRESTONE
The Romney campaigns increasingly desperate attempts to dismiss a new study of its tax plan are a pretty good sign that the study is devastating...Its been well known for a while that Mr. Romneys tax plan was a mathematical impossibility. He promised to reduce marginal tax rates by 20 percent, eliminate the estate tax and the alternative minimum tax, and end the capital gains tax for middle-income taxpayers all while not lowering the amount of revenue coming into the treasury. Mr. Romney said he would offset those losses by ending a series of loopholes, but has yet to cite a single loophole he would delete.
<...>
The Romney campaign called the study a joke for not taking into account the explosion of economic growth that tax cuts and a reduction in spending will automatically produce. (No details, of course, on how much growth or what precisely would cause it.) But the studys authors did consider that possibility. Even when they added an unrealistic amount of economic growth to their model, they still couldnt find a way for the tax cuts to pay for themselves.
Mr. Romney managed to skate through the primaries with an empty grab-bag of tax giveaways, and may have thought that anti-Obama anger would let him get away with it in the general election, too. A definitive study like this one makes it clear his hollowness will have a heavy price.
http://takingnote.blogs.nytimes.com/2012/08/02/romneys-tax-hike/
By DAVID FIRESTONE
The Romney campaigns increasingly desperate attempts to dismiss a new study of its tax plan are a pretty good sign that the study is devastating...Its been well known for a while that Mr. Romneys tax plan was a mathematical impossibility. He promised to reduce marginal tax rates by 20 percent, eliminate the estate tax and the alternative minimum tax, and end the capital gains tax for middle-income taxpayers all while not lowering the amount of revenue coming into the treasury. Mr. Romney said he would offset those losses by ending a series of loopholes, but has yet to cite a single loophole he would delete.
<...>
The Romney campaign called the study a joke for not taking into account the explosion of economic growth that tax cuts and a reduction in spending will automatically produce. (No details, of course, on how much growth or what precisely would cause it.) But the studys authors did consider that possibility. Even when they added an unrealistic amount of economic growth to their model, they still couldnt find a way for the tax cuts to pay for themselves.
Mr. Romney managed to skate through the primaries with an empty grab-bag of tax giveaways, and may have thought that anti-Obama anger would let him get away with it in the general election, too. A definitive study like this one makes it clear his hollowness will have a heavy price.
http://takingnote.blogs.nytimes.com/2012/08/02/romneys-tax-hike/
Ouch!
New Obama ad: 'Romney's tax plan? He pays less. You pay more.'
http://www.democraticunderground.com/10021061091
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NYT on Romney's "increasingly desperate attempts" to dismiss a study of his tax plan (Original Post)
ProSense
Aug 2012
OP
flamingdem
(39,313 posts)1. Mitt, a pitbull has your pants leg
and she won't let go until you cough them up!
RedStateLiberal
(1,374 posts)2. Desperate is so right.
Today he claimed he'll create 12 million jobs. How? Nobody knows because he gives zero details.
All those tax cuts for the rich will just trickle on down to the rest of us just like they always do...
Next he'll be promising a car elevator in every house if he thinks that will help him win.
geckosfeet
(9,644 posts)3. "Explosion of economic growth". Don't forget the free ponies and ice cream.
Lower than whale shit I say.
Flatpicker
(894 posts)4. Gambling with our future
So Mitt is asking us to Trust him and Gamble on "Explosive Growth".
Sorry Mitt, you are too much the used car salesman for my tastes.