Today in Romney-Ryan Nonsense
We interrupt our (er, my) wall-to-wall coverage of the Supreme Court to bring you this breaking news bulletin. A centerpiece of the Republican economic agenda is a big, fat fraud.
I'm talking about the tax and budget proposals Mitt Romney, Paul Ryan, and their Republican allies have been promoting. While their plans are not identical, they say they are going to cut taxes dramatically, first by extending all of the Bush tax cuts permanently and then by reducing income and corporate taxes even more.
You don’t have to be a budget expert to spot the problem here: The government would lose a ton of revenue from these tax cuts. The deficit would skyrocket unless lawmakers enacted dramatic cuts in programs on which the poor and middle class depend. Meanwhile, the wealthiest taxpayers in America would get a windfall.
Republicans have been saying they have a way to deal with these consequences. They’d end "tax expenditures" (loopholes and tax breaks designed to encourage certain activities) that, they suggest, mostly benefit the wealthy. The Republicans never specify which loopholes they’d close. Who has time for such details? But, they promise, closing the loopholes would generate enough money to offset the cost of the tax cuts, so that the deficit wouldn't go up even as everybody’s tax burden went down.
Sound too good to be true? It is.
http://www.tnr.com/blog/plank/104249/republican-ryan-romney-taxes-loopholes-deficit-cuts-lie-bogus
= new reply since forum marked as read
Like the Mortgage Interest Deduction?
Yeah, romney (or was it ryan?) let that one slip out early on ... they stopped talking about it when they figured out that while the wealthy benefit from being able to deduct mortgage interest paid, the middle and working class home"owner"
s) depend on it.
There is a difference.
