Ryan gives some detail on Romney tax plans - 20% Tax Reduction?

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posted on Oct, 2 2012 @ 12:43 PM
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Ryan gives some detail on Romney tax plans

V.P. candidate Paul Ryan has indicated that a Romney tax plan would include a 20% tax reduction for $150,000 and under for individuals, and a 25% corporate tax rate.

Not much other real details like what deductions would be eliminated, reduced, or enhanced.

The Hill

Republican vice presidential candidate Rep. Paul Ryan (R-Wis.) in a Bloomberg interview broadcast Tuesday provided a bit more detail on the tax overhaul plans of GOP presidential nominee Mitt Romney.

Ryan has been under fire since a weekend appearance on Fox News Sunday in which he said he did not have time in the interview to get into the details of the plan.

Romney has proposed lowering taxes by 20 percent across the board for individuals and lowering the corporate rate to 25 percent in a deficit-neutral way that shields the middle class from net tax increases. Democrats have said the math doesn’t add up.....



And,

“You are going to have a net tax rate reduction, a net tax liability reduction,” Ryan said when asked about those at the $150,000 level.

To accomplish this feat, Romney backs going after tax breaks “primarily” for upper-income individuals, Ryan said.



Ryan gives some detail on Romney tax plans


Is this making any sense ?





posted on Oct, 2 2012 @ 12:48 PM
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Paul Ryan explaining Romney's tax plans:




posted on Oct, 2 2012 @ 12:49 PM
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How does everyone get a tax cut, continue the wars, and we balance the budget?



posted on Oct, 2 2012 @ 02:55 PM
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reply to post by theconspirator
 


Because they aren't using any kind of real math to do it. Anyone that buys this trickle down BS is a moron.



posted on Oct, 2 2012 @ 03:39 PM
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reply to post by KeliOnyx
 


T'weren't 'Trickle Down'. T'was 'Piss On Us'.



posted on Oct, 2 2012 @ 03:50 PM
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Yeah...no matter how I try to spin this around in my head, I just can't seem to make it work.

He says that they can lower taxes and balance the budget. Has anyone else looked at what the deficit actually is? So...what is going to be cut? What taxes are going to be raised?

I'm def no economists, but there is something smelly in their "plans". I know if I am making say 3,000.00 a month but my monthly bills add up to 4,000.00 a month...lowering my income (revenue) by 20% is not going to work. I need to increase my income by 33% or cut my spending by 25%.

He says it is a revenue neutral plan. If you are running a huge deficit every year, you have two options...well...three. You can raise taxes. You can cut spending...or you can do both.

They have this dream that this is going to "stimulate" businesses and that will increase the total volume of revenue...it hasn't worked before...why is now different? Everyone is holding on to their money...I do not see scores of people lining up to start businesses and create jobs.

Bah....I'm fine with tax cuts...the more of my money I get to keep the more I like it...but their plan is goofy to me...in this market, I do not see the "dream" working...not any time soon anyway...

And yes..."Trickle down economics"...a nice way of saying "P!ssing on my head and telling me it's raining"
edit on 10/2/2012 by Jeremiah65 because: (no reason given)



posted on Oct, 2 2012 @ 06:08 PM
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reply to post by xuenchen
 


I like tax cuts especially when it assists those in the middle and lower classes more so. I think it's important we help give families a break, that little extra they need a week. That being said, I disagree with this notion that tax cuts are the answer to econonomic stagnation. I have alot of bills to pay, you give me a tax break that earns me an additional $30 or $40.00 a week, and that money will quickly sink right back in the bills I pay. I'm not going to spend that money on goods or electronic.... maybe this would have been something I would have done in times of economic growth, but not in the economics conditions we're facing, and with the rising costs I am faced with. Others may have different accounts, but I'm sure my account applies for most folks.

What is the point of tax cuts to stimulate the economy if most Americas are deep in dept and facing rising living and health costs? What's the point of tax cuts if we have so many people finding it hard to find a job? I support tax cuts to assist those families in need, but to claim it's an instrumental part to any economic revival plan is outside of reality.



posted on Oct, 2 2012 @ 06:19 PM
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Originally posted by xuenchen

Is this making any sense ?




Good grief, it's from The Romney Unit's campaign. Of course it doesn't make any sense! Silly fox!



posted on Oct, 2 2012 @ 06:25 PM
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Originally posted by theconspirator
How does everyone get a tax cut, continue the wars, and we balance the budget?


Magic Republiocan pixie dust! Plus The Romney Unit says that's what's going to happen!



posted on Oct, 2 2012 @ 06:37 PM
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reply to post by xuenchen
 


Actually this make no sense to me at all.

So let me make sure I understand this...

47% of Americans do not pay their fair share due to making $26,400 per year and therefor are entitled to refunds from the Federal Government, so in response to this we will give these same 47% freeloaders a 20% tax break and this will get people to pay their fair share?

How exactly does this work?

I swear Romney is amazing to me.



posted on Oct, 2 2012 @ 06:39 PM
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Originally posted by Southern Guardian


What is the point of tax cuts to stimulate the economy if most Americas are deep in dept and facing rising living and health costs? What's the point of tax cuts if we have so many people finding it hard to find a job? I support tax cuts to assist those families in need, but to claim it's an instrumental part to any economic revival plan is outside of reality.


We are talking about Mitt Romney- the man who said that "Middle Class" was people making $250,000 per year (a quarter of a million). Of course it is outside of reality.



posted on Oct, 2 2012 @ 06:47 PM
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Taxes mostly takes away freedoms of that business or individual.

Spending (by congress) takes away the total future of everyone.





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