Mitt Romney’s plan to raise your taxes and cut his

Last week, the nonpartisan Tax Policy Center released the results of a study into the major components of Mitt Romney’s tax plan, which promises voters a 20 percent across-the-board reduction in income tax rates while continuing to produce existing levels of revenue.

Here’s what the TPC found:

“Our major conclusion is that any revenue-neutral individual income tax change that incorporates the features Governor Romney has proposed would provide large tax cuts to high-income households, and increase the tax burdens on middle- and/or lower- income taxpayers.”

More specifically, after-tax, take-home income for those Americans making less than $200,000 would fall by an average of 1.2 percent under the Romney plan, while after-tax income for those Americans in Romney’s tax bracket would increase by 4.1 percent.”

Put into graph form, this is how it would look:

Source: Tax Policy Center

Source: Tax Policy Center

The Romney campaign has tried to rebut the findings of the Tax Policy Center, arguing that the Romney plan can’t be assessed accurately because the former Massachusetts governor has refused to release its details. That is simply not true. While Romney has indeed chosen to hide details of his plan, he has made the plan’s basic conceptual framework very clear. He intends to cut tax rates across the board, and to replace that lost revenue by eliminating or reducing major tax breaks.

So let’s look once again at the 20 biggest tax expenditures on the books, as compiled by the Congressional Research Service:

deductions

As you can tell, most of those deductions and expenditures — the mortgage deduction, the health insurance deduction — benefit the middle class more than they do the wealthy, which means the middle class would be hurt worse by their elimination or reduction. Compounding the problem, Romney has made it clear that the tax expenditures that benefit the wealthy most, such as a lower tax rate on capital gains than on earned income, would be preserved under his plan because he believes they encourage savings and investment.

In short, your tax expenditures are bad and must be removed, while his are good and must be retained.

Given those parameters, all of which Romney has stated explicitly, it is mathematically certain that taxes would increase for lower- and middle-income Americans while they would fall for Romney’s counterparts.

As TPC concludes:

“… even when we assume that tax breaks –- like the charitable deduction, mortgage interest deduction, and the exclusion for health insurance -– are completely eliminated for higher-income households first, and only then reduced as necessary for other households to achieve overall revenue-neutrality -– the net effect of the plan would be a tax cut for high-income households coupled with a tax increase for middle-income households.”

In fact, to some Romney supporters, the additional tax breaks for the wealthy contained in his plan are a feature to be celebrated, not a bug to be denied. As William McBride, a conservative economist at the Tax Foundation, puts it:

“In summary, TPC has correctly identified the Romney plan as a tax cut, at least in static terms, that accrues mainly to high-income earners. But TPC fails to acknowledge any of the benefits of Romney’s plan, most pertinently that lower rates combined with a broader tax base should lead to significant economic growth. The benefits of such growth will benefit some more than others, but arguably the currently unemployed will receive the greatest benefit in the form of a job.”

In other words, the Romney is simply a repeat of the Bush plan — trickle-down, Laffer-curve economics of the sort that conservatives have been peddling since the late ’70s. And while the rich have indeed become richer over that time frame, the promised benefits of that strategy have yet to appear.

But hey, maybe next time, right?

– Jay Bookman

962 comments Add your comment

Keep Up the Good Fight!

August 6th, 2012
4:16 pm

Paul, obviously if you are not a billionaire, you are middle class. :) :lol:

Paul

August 6th, 2012
4:16 pm

Bernie

“Paul @ 3:15 pm – Exactly! the same strategy used by The Republicans! Whats good for the GOOSE is good for the Gander!”

Engaging in continuous rounds of “they did it so I can do it” does not advance the conversation or work to the betterment of the country.

Recon 0311 2533

August 6th, 2012
4:17 pm

Jay’s selling snake oil again. The Democrats are positioning to raise taxes on everyone in January when current tax rates expire and more tax as Obamacare kicks in. Obama is determined to transform America into a third world country.

Kamchak ~ Thug from the Steppes

August 6th, 2012
4:18 pm

Because NONE of us would believe that if you were innudated with more work than your people could handle you would NOT hire more people to cover the extra need.

He’s not the job creator that he imagines himself to be.

Adam

August 6th, 2012
4:18 pm

Recon: The Democrats are positioning to raise taxes on everyone in January when current tax rates expire and more tax as Obamacare kicks in

Fine with me. #OffTheCliff, baby.

it's obvious

August 6th, 2012
4:18 pm

“How do you explain the fact that in the 1950s top tax bracket rates were into the 90%s, almost three times their present level, and we had the greatest broad-based prosperity and capitalist boom we’ve ever seen?

You can’t explain that.”

Actually, it is very easy to explain that. It was a little thing called World War II. When all the soldiers came home they bought houses, cars, etc and caused an economic boom in spite of the high taxes. You have to wonder how big the boom could have been had the government not taxed it so much.

Much like the economic boom that most people attribute to Clinton’s policies was caused by the internet ‘coming of age’ and not due to any of his policies. Right place right time.

Vast Right Wing Conspiracy

August 6th, 2012
4:19 pm

Back to the class warfare stuff, which I guess is about all president Kardashian has these days. Lost 1.2 million jobs in July, price of gas back up, etc., etc., ad nauseum. Nothing but bad news for Emperor Nero.

You probably have all this wrong, Jay (you usually do), but even if you are correct, given that the top 25% of wage earners pay 86% of all taxes (I think the top 1% of earners pay about 40% of the taxes), I can not think of a group that is more deserving of a tax break.

What we need to do is have the 45% to 50% of wage earners that pay nothing in taxes (and, in fact, get money back every year from the earned income tax credit) pay their fair share. My daughter, in college, got a check back from the government last year and asked me, “What is this for?” I said, “Because the government is stupid.” I think iTunes benefited from the taxpayer’s largesse.

lynnie gal

August 6th, 2012
4:19 pm

If Americans vote for these guys–Robme and his plans to give his rich buddies more tax breaks and increase taxes on everyone else, Paul Ryan and his ilk peddling their “creative magic” of cutting Unemployment benefits, Food programs,Medicare, Medicaid, Social Security, College aid, and Education (because after all, those tax breaks have to be paid for with something!)…if Americans vote these guys into power, we as the people of a once-great nation are unfit to survive. It sends chills up my spine to envision the future they are laying out for us. They must think they won’t have to live here in America among the poor, sick, uneducated, crime-riddled, homeless they created with their grand ideas. They think they can just jet off to Belize and let us all just suck their dust. People should be mobbing the doors of Robme’s many houses with their pitchforks and torches! Release your tax forms, Robme!

Ben Shockley

August 6th, 2012
4:19 pm

Taxpayer, Paul, if you guys don’t feel like your tax liability is high enough, just send Barack a supplemental check. He’ll be glad to spend it for you. I think people ought to choose how to spend their own money, even those who earn a lot more than me, but that’s just how I was raised. We didn’t help ourselves to other people’s property in my family.

Erwin's cat

August 6th, 2012
4:19 pm

“It isn’t just those making 250k or better crying about a tax increase on those people. The majority of the Republican base doesn’t make that”

So if according to Obama…”You didn’t make that”

then how come they are on the hook for paying the taxes?…just sayin

Joseph

August 6th, 2012
4:19 pm

I just copied and pasted the first few lines of Bookman’s tripe and guess what popped up? Huff Post, Ed Show, Daily Cos, Media Matters….. Your a laughing stock Bookman…

Brosephus™

August 6th, 2012
4:20 pm

Somehow or another it still escapes the minds of the simpletons on here who can’t understand that you can’t give a tax cut to people who don’t pay federal taxes to begin with outside of FICA.

Are those just like the simpletons who can’t understand that cutting tax rates adds to the number of people who end up with little to no federal income tax liability? Seems you can’t have your cake and eat it too. The more you cut rates, the more you zero out people’s tax liability.

They BOTH suck

August 6th, 2012
4:20 pm

Has the “sleeping giant” awoke………… yet?

Looking at real clear politics even Rasumussen and Gallup show Romney behind.

Only major polls showing Romney leading is the CBS/NYT and that is by a point.

Is Romney leading in any swing states? Funny that the best Romney can assert in some swing states is that he is in a statistical tie, but is he actually leading any of them?

Loretta Paraguassu

August 6th, 2012
4:21 pm

I’m going to work an Obama phone bank tonight. Thanks for giving me more material. Printing it out as I write this.

Paul

August 6th, 2012
4:21 pm

Keep Up

“Paul, obviously if you are not a billionaire, you are middle class.”

It appears some definitions of what constitutes ‘middle” is about as elastic as Americans’ waistbands….

Real Scootter

August 6th, 2012
4:21 pm

Adam,

Just got back from reading the link you provided for me about Obama’s tax proposals and didn’t see them.Was there something else I was supposed to look at
other than the WaPo article?

Adam

August 6th, 2012
4:22 pm

Ben Shockley: if you guys don’t feel like your tax liability is high enough, just send Barack a supplemental check.

Why exactly do you think Obama has only been SLIGHTLY behind Romney in fundraising? CHECKS FROM ADAM, baby (and I am sure millions of others)

Recon 0311 2533

August 6th, 2012
4:22 pm

#OffTheCliff, baby. Adam, that’s exactly where we’re headed. Change you can believe in.

Adam

August 6th, 2012
4:23 pm

Real Scooter: The plan he is referencing is linked.

Terry H

August 6th, 2012
4:23 pm

Another hit piece by this newspaper. Multiple past tax plan recommendations (Simpson-Bowles) have included reduction or elimination of many of the same deductions. Secondly, reduced tax rates for capital gains and qualified dividends are for the purpose of stimulating investment. You conveniently leave out the fact that these are already been through corporate taxation. Unfortunately, this “columnist” ideology skews his reporting to favor his candidate, the anointed one.

Ben Shockley

August 6th, 2012
4:23 pm

“Looking at real clear politics even Rasumussen and Gallup show Romney behind.”

Are these the same polls that had Rachel Madcow on MSNBC claiming that the Ohio governor recall race was too close to call?

Ted

August 6th, 2012
4:24 pm

We want to encourage any program that raises taxes for the government. Right? We don’t want people buying homes, investing in stocks, buying cars, or anything else that the government is not encouraging.

Adam

August 6th, 2012
4:24 pm

Recon: Maybe you should look up #OffTheCliff.

But since you need some help: It means that we are going to let the damn tax rates reset so Congress is forced to cut taxes from the Clinton rates. This also means not a single Republican will be forced to violate their oath to uphold the Const…. I mean to GROVER NORQUIST, that says they must not EVER EVER vote to raise taxes.

InAtl

August 6th, 2012
4:24 pm

Adam

August 6th, 2012
4:26 pm

Ben: There was no Ohio governor recall race.

And no, she didn’t call the Wisconsin one “too close to call” either when they started tallying the votes.

They BOTH suck

August 6th, 2012
4:27 pm

Ben

What polls where they or are you just pulling stuff out of your behind as usual?

There wasn’t a recall in OH, but if you are referring to WI, I do not know of any major polls that show Walker behind on the day before the election.

Maybe you would like to show us those polls and not just quotes from pundits

hahahahaha

Bernie

August 6th, 2012
4:27 pm

Paul @ 4:16 pm – My sentiments exactly when the demands of the President’s Birth Certificate was in play! The President complied to this ludicrous request that many of his supporters felt was not necessary.

Mitt should not BE HELD to a DIFFERENT STANDARD in regards to this issue as WELL!

MITT needs to SHOW HIS PAPERS, Period!

Pizzaman

August 6th, 2012
4:27 pm

After thought:

About a year ago Boortz was ranting that the market didn’t like the President. The market was 9500 to 10,000 at that time. Closed today at 13,117. Means one of three things:

1. Boortz don’t know c…!
t2. Boortz did it because he knew it would cause the market to go up (I don’t believe he’s that smart).
3 The market doesn’t give a damn who’s in the White House (my guess)

Take your pick or feel free to add on.

Real Scootter

August 6th, 2012
4:28 pm

Real Scooter: The plan he is referencing is linked

Thanks again Adam! I figured I probably missed something as usual. I’ll go try again.

Adam

August 6th, 2012
4:28 pm

InAtl: That article is nothing but a load of confirmation bias.

Erwin's cat

August 6th, 2012
4:28 pm

InATL – You say nobody has countered this study. Well, Jennifer Rubin has in the Washington Post:

good read
thanks

Kamchak ~ Thug from the Steppes

August 6th, 2012
4:28 pm

Secondly, reduced tax rates for capital gains and qualified dividends are for the purpose of stimulating investment.

Funny, there was a similar justification for Reagan’s first tax cut — to re-tool factories and re-train the U.S. worker.

Instead, this windfall fueled the junk-bond LBO business that ended up costing jobs.

Adam

August 6th, 2012
4:29 pm

I’m out for the day. See ya!

Keep Up the Good Fight!

August 6th, 2012
4:29 pm

Recon 12… the cliff was negotiated by a bipartisan group. Its easy to stop the car. Responsible Republicans (the few, the out of lock step, the gutsy willing to stand up to Grover) and the Dems are willing to negotiate… Its the tea party nuts and their lock step followers who remain with their feet on the gas.

Pass the Cheesy Grits Please

August 6th, 2012
4:29 pm

We didn’t help ourselves to other people’s property in my family.

Unfortunate your family is in massive debt. Because of tax cuts for the wealthy and out of control military spending we are in a financial crisis.

Might be time to call that rich uncle again.

Tim

August 6th, 2012
4:30 pm

If it is tied at halftime, Romney will win it. Students frustrated by no jobs, tradesmen frustrated by no construction work, and senior homeowners frustrated by devastation in home prices. Sadly, Obama has no management skills as evidenced by him not replacing any of his failed cabinet subordinates. Just so much worse than any of us expected it to be.

Willie

August 6th, 2012
4:30 pm

Work harder,Jay. This election is shaping up as a referendum on one thing. Barack Obama’s failed policies.

Ben Shockley

August 6th, 2012
4:30 pm

Welcome to the Occupation

August 6th, 2012
4:09 pm

“Ben Shockley: what’s laughable is that you think this economy is one iota better today than when Obama took office

Is a car hurtling down a ravine in worse shape than one with all four wheels firmly planted on solid ground? ”

What’s laughable is annual deficits at $1.4 trillion and climbing under this president, despite his commitment to cutting it in half in his first term, and Welcome to the Occupation thinks all four wheels are planted firmly on the ground! LMAO!!!!!!!!

Ben Shockley

August 6th, 2012
4:31 pm

“And no, she didn’t call the Wisconsin one “too close to call” either when they started tallying the votes.”

You want me to post the youtune link of Maddow doing EXACTLY that?

Pass the Cheesy Grits Please

August 6th, 2012
4:31 pm

There wasn’t a recall in OH, but if you are referring to WI, I do not know of any major polls that show Walker behind on the day before the election

There weren’t any. Everyone knew the recall was going to fail. And it did.

Obama was up about this much in the polls 4 years ago as well.

They BOTH suck

August 6th, 2012
4:34 pm

Ben

Could careless about what a left or right pundits said. Post the link of the polls showing Walker behind the day before the election

Thought so

But keep swinging

:-)

Ben Shockley

August 6th, 2012
4:34 pm

Here you go boys….read ‘em and weep…

http://www.youtube.com/watch?v=pchwcD4IPzs

Pass the Cheesy Grits Please

August 6th, 2012
4:34 pm

What’s laughable is annual deficits at $1.4 trillion and climbing under this president, despite his commitment to cutting it in half in his first term,

Thats true. He did underestimate the size of the pile of poo Bush left on the doorstep.

CJ

August 6th, 2012
4:34 pm

This study reinforces what we already know (or should know). Republican politicians don’t believe in low taxes. They believe in low taxes for their wealthy benefactors and couldn’t care less about the tax rates of the poor and middle class.

The evidence to support this assertion is overwhelming and, in fact, includes the recent T-SPLOST initiative. Georgia Republican legislators, Republican senators (Isakson and Chambliss), and Republican governors (Perdue and Deal) worked hard to get a regressive sales tax passed (taxes poor and middle class at higher rates) to fund infrastructure after a decade of special interest tax cuts at the state level.

The Republican infrastructure–party, pundits, benefactors–are professional con artists. Nothing more and nothing less.

Recon 0311 2533

August 6th, 2012
4:34 pm

Adam, you’re listening too much to that idiot O’donnel.

They BOTH suck

August 6th, 2012
4:34 pm

Pass the Cheesy Grits

I know that, but Ben doesn’t. So it was time to inform him of the facts

Erwin's cat

August 6th, 2012
4:35 pm

Cheesy – Obama was up about this much in the polls 4 years ago as well

Obama wasn’t even the nominated candidate 4 yrs ago this time….stop making making stuff up

Paul

August 6th, 2012
4:35 pm

Bernie

“MITT needs to SHOW HIS PAPERS, Period!”

As I said, the demand to show proof to dispel an accusation is the same tactic used by Republicans against the Obama Administration regarding Fast and Furious.

Pass the Cheesy Grits Please

August 6th, 2012
4:36 pm

Here you go boys….read ‘em and weep…

http://www.youtube.com/watch?v=pchwcD4IPzs

Since when is Rachel Maddow a poll ?

Talk about moving the goalposts.

Most every poll has Obama ahead ( and the electoral map is even worse for Romney )

Just like this time 4 years ago.

Don Abernethy

August 6th, 2012
4:37 pm

Democrats will do ANYTHING to try to keep the public’s focus away from the deficit and lousy economy created by the Democrats and the White House. Romney’s taxes have nothing to do with the REAL problems like jobs. They are going to continue to focus on Romney personally because they do not have anything to brag about. What about Obama’s foreign status at college where he got foreign aid because he was not a US citizen and he had a different name.Romney needs to attack Obama’s personal life.

GT

August 6th, 2012
4:37 pm

The only way Romney can survive is if there is a war, just like Bush. The country is not paying attention to any of this. They are looking at the calendar and then the wallet. Whoever is in office is tossed if the wallet is empty, kept if it is full. It does matter if the money is drug money or stolen they expect money and usually Republicans can depend on a fixed economy by the Democrats when they enter office, Clinton gave it to Bush fixed, Bush wrecks it and gives it back to O. Now if O doesn’t give it back to Romney fixed there won’t be enough currency to fill the wallets or will there. The banks have not lent any money, the cheap money habits could still come to play and we have the exact funny money economy that got us in this place in the first place only I don’t think Romney can float that check for 4 years and will leave the most disliked president of all times if elected.

Ben Shockley

August 6th, 2012
4:37 pm

From the video at 15 seconds:

“NBC News: WI Gov. Recall Too Close To Call”

On what do you think they based that assertion, if not a poll? Early election returns? LMAO!!!

Pass the Cheesy Grits Please

August 6th, 2012
4:37 pm

Obama wasn’t even the nominated candidate 4 yrs ago this time….stop making making stuff up

Im not

http://www.realclearpolitics.com/epolls/2012/president/obama_vs_romney_compared_to_obama_vs_mccain.html

Jay

August 6th, 2012
4:38 pm

“You want me to post the youtune link of Maddow doing EXACTLY that?

Sure, Mr. Shockley. And post the video of Fox News doing exactly the same thing, while you’re at it.

The exit polls did show Walker winning, but not by a margin large enough to allow any of the networks to call it immediately. They all said initially that it was too close to call, waiting for a final call until they had enough real results to confirm that the exit polls were accurate.

In the end, the exit polls proved right on the mark.

Another conservative myth impervious to actual fact.

Pass the Cheesy Grits Please

August 6th, 2012
4:38 pm

Keep Up the Good Fight!

August 6th, 2012
4:38 pm

Obama wasn’t even the nominated candidate 4 yrs ago this time

last I checked, Romney has still not been nominated.

Scooter

August 6th, 2012
4:38 pm

I love it… “20 biggest tax expenditures”. So the government is expending money by not forcing citizens to pay it.

Thulsa Doom- translating liberal gobbledeegook

August 6th, 2012
4:38 pm

“If Americans vote for these guys–Robme and his plans to give his rich buddies blah blah blah more tax breaks blah blah blah and increase taxes on everyone else blah blah blah,

Translation- Libs do loves they class warfare and wealth hate mongering they do.

“Paul Ryan and his “ilk” ”

Oh noes! More ilk!!!

“peddling their “creative magic” of cutting Unemployment benefits, Food programs,Medicare, Medicaid, Social Security, College aid, and Education (because after all, those tax breaks have to be paid for with something!)…”

Translation- they are going to quit paying for Linnie’s welfare programs.

“if Americans vote these guys into power, we as the people of a once-great nation are unfit to survive.”

Well Linnie got one thing right. We were a once great nation- back when we didn’t depend on a nanny state to do everything for us.

“It sends chills up my spine to envision the future they are laying out for us.”

Translation- My God. My free shyte is going away and I have to pay my own way.

“They must think they won’t have to live here in America among the poor, sick, uneducated, crime-riddled, homeless they created with their grand ideas.”

Linnie gal laying out the emotional rhetoric and hyperbole and laying it on thick.

“They think they can just jet off to Belize and let us all just suck their dust.”

Translation- Oh no they won’t. We will outvote them and vote ourselves boatloads of free crap paid for by them. Just you try to run off to Belize. Feel the hate!!!!

“People should be mobbing the doors of Robme’s many houses with their pitchforks and torches!”

Translation- Libs do love they mob politics. They do love the rule of man as opposed to the rule of law they do. It shore do splain they love of OWS rioters it do.

“Release your tax forms, Robme!”

Yep. Do it right after Harry Reid and Nancy Pelosi release theirs. And be sure to do it only after Obama releases all his college transcripts. Wass that? Romney already released 2010 taxes and an estimate of 2011 taxes? Well then shut the hell up already.

reality check

August 6th, 2012
4:39 pm

go back on vacation and make it permanent this time

Ben Shockley

August 6th, 2012
4:41 pm

“Sure, Mr. Shockley. And post the video of Fox News doing exactly the same thing, while you’re at it.”

No problem, and thanks for proving my original point that polls at this point prove nothing. You’re a swell guy, Jay.

Jay

August 6th, 2012
4:41 pm

“reality check” doesn’t like to see his version of reality questioned by actual reality.

Again, if you have a rebuttal, post it. So far, I have seen none.

Kamchak ~ Thug from the Steppes

August 6th, 2012
4:42 pm

What about Obama’s foreign status at college where he got foreign aid because he was not a US citizen and he had a different name.

Birthers.

:roll:

Paul

August 6th, 2012
4:42 pm

Don Abenethy

“Democrats will do ANYTHING to try to keep the public’s focus away from the deficit and lousy economy created by the Democrats and the White House. ”

When did the lousy economy and the over-trillion-dollar deficits begin?

Jeffrey

August 6th, 2012
4:42 pm

I think in early November mitt is going to talk to his sons about the importance of paying taxes, so maybe one day they can do what dad and grandpa couldn’t.

Ben Shockley

August 6th, 2012
4:43 pm

“Thats true. He did underestimate the size of the pile of poo Bush left on the doorstep.”

Really? You think? Because he kept sayign it ws the worst economy since the great depression. Hard to believe a guy as smart as Obama could underestimate given the campaign rhetoric. Fortunately for Barack, liberals are easily fooled.

I'll alert the Media

August 6th, 2012
4:43 pm

Would like to get a Liberal to tell me what they think is fair for the successful to pay. Yes, most like the word rich on here, but successful is more in line. From 35% to 39.5% gives the feds about 81/2 days more operating money, so that is peanuts. What’s the number, 50%, 60%? Any spending cuts coming along with this crime? Say cut the budget back to the finger wagger Clinton days? Fact is it will never be enough. We don’t really need successful people do we? How about some thugs to start some new businesses for jobs. Also, news flash. A robust economy fills the treasury. We wouldn’t want that. Some people might get rich…..or richer.

Mama Says

August 6th, 2012
4:43 pm

You libs are funny,

We have Bookman here writing this blog in which he is critical of every plan that a conservative makes, leaning his topics toward the anti rich theme. All while Cox pays him a triple digit salary, matching 401 and as he said weeks back he has 3-4 retirement portfolios, hardly a voice for the poor.

Then we have the rest of you, who at the very least are well off enough to sit at your laptop, IPad or desktop while you pretend to be arguing an argument for the poor man. You take your lunch breaks walk out of your workplace,home or Internet cafe, go down the street to the corner Starbucks , buy your 20$ latte and drift back to your desk.

All while you rant about what’s fair for the rich man to pay. You live in such an insulated world that you yourselves don’t know that you argue against yourselves while you condemn the rich for only paying 67% of the federal taxes which are collected and at that rate or more you still think you are the ones getting screwed.

The pure and simple fact is that you will never make a tax system fair or equitable until you do several things, most of which you are against.

We must cut the use of 4-5 brackets and have one rate for all.

Cut all loopholes,including the Interest rate deduction, and business expense deductions since the loopholes and deductions are exactly what creates the imbalance.

Install term limits on all elected offices so they don’t give away the farm trying to line their own pockets.

And get the hell over this attitude of if he doesn’t have to why do I, your adults why are you acting like kids at Chucky Cheese. Mommy he got pepperoni and I didn’t, I want mine !

And control federal spending, we fight because the government is so instatible it keeps wanting more and more of our dollars. There had to be a limit.

A tax is not suppose to be punitive it is suppose to fund the government for essential task. And we all benefit from what the government provides, yet many of you bitch continually about the rich should be required to give more because they make more. Tell you what try that at home. Go home and tell your spouse that because he or she makes more they can pay more toward the bills. Tell them that it’s not right for you to have to contribute your share because you don’t make as much. Let them know that you will continue to use the car, the shower and eat the food, you just aint paying as much for it anymore because they have more money. Let me know how that works for you. I say within 10 years you will be divorced.

This child like pouty game that’s played with the system is why it’s broken. Right now it’s not designed to be equitable. As long as you propose any other option which pits rich against poor it never will be.

By the way wasn’t it Obama that was holding out for ending loopholes in exchange for an increase in the debt ceiling ?

Seems some of you forgot that little nugget. He wanted the same thing Romney is proposing, you had no problem with it then.

At least be honest with yourselves, you have a very comfortable life, paid for n general by the very people you want more out of.

Mr Right

August 6th, 2012
4:44 pm

All I have to say is, a vacation didn’t help Jay any, he is still a stupid Dem!

Pass the Cheesy Grits Please

August 6th, 2012
4:44 pm

No problem, and thanks for proving my original point that polls at this point prove nothing. You’re a swell guy, Jay.

Actually they mean everything. Sure its not over. But the fat lady is warming up. All things being equal dont think for a second Romney wouldn’t rather be ahead.

http://www.realclearpolitics.com/epolls/2012/president/election_2012_vs_election_2008_four_years_ago_today.html

Just like last time.Your welcome.

I'll alert the Media

August 6th, 2012
4:45 pm

Jeffery, what’s Obama going to talk to his daughters about……….Not living with a mistake?

Pass the Cheesy Grits Please

August 6th, 2012
4:45 pm

Would like to get a Liberal to tell me what they think is fair for the successful to pay.

More than 14 percent like Romney pays.

Why is that so hard to understand ?

Billybob

August 6th, 2012
4:45 pm

at least you re-energized on helping hussein run against bush for the second time even though he hastn’t run against him even one time……big gov’t lackey and leftists liberal political hack in da’ house…..a painful fall for your ilk indeed…..enjoy bookman

Tim

August 6th, 2012
4:46 pm

Walker may not have been behind the day before the Wis election, but the Democrats and the Unions , AFSCME and AFLCIO, spent $14M of their supporters money on this election. Why would they have done that if everyone knew Walker was going to win?

Jay

August 6th, 2012
4:46 pm

Fox, for example, didn’t call the race until 25 percent of the actual votes had been tallied. Why? Clearly, because until then it was too close to call.

Erwin's cat

August 6th, 2012
4:47 pm

Okay Cheesy there was a poll four yrs ago with O ahead of McCain 3.8%..my bad

at least this time you were able to back up your assertion…it’s a nice change

Tom(Independent Viet Vet USAF)

August 6th, 2012
4:47 pm

Answer this question for me someone, honest answer please not the political one! I have heard that if you do raise taxes on the high- achievers(over $250,000 income), that it would pay for only eight days of the calendar year’s spending by this current administration! If this is true, what does it accomplish, other than be a feather in the cap by the liberals?

Pass the Cheesy Grits Please

August 6th, 2012
4:48 pm

Okay Cheesy there was a poll four yrs ago with O ahead of McCain 3.8%..my bad

No, Thats the average he was ahead in all the polls done ( There were many )

Jeffrey

August 6th, 2012
4:48 pm

[...] Atlanta Journal Constitution (blog) [...]

Jay

August 6th, 2012
4:48 pm

In fact, Fox didn’t call the Walker race until 9:56 ET. That was six minutes AFTER Rachel Maddow, the first to announce a result, called it on MSNBC.

Your serve, Mr. Shockley.

Recon 0311 2533

August 6th, 2012
4:50 pm

Humorous that some gullible Democrats are finding comfort in the electoral map. RCP’s map is an average that includes polling data from the MSM and organizations using questionable techniques. With 5% of the electorate still undecided you won’t begin to see any clear direction in the swing states until next month.

I'll alert the Media

August 6th, 2012
4:51 pm

I assume Romney followed every tax law the Dems and Charlie Rangle have on the books. Maybe it’s your own ilk you have a problem with, and not Romney and his tax man.

Tim

August 6th, 2012
4:51 pm

Very persuasive points, Mr. Bookman, on who called it first. What is this, first grade?

Doggone/GA

August 6th, 2012
4:51 pm

“I have heard that if you do raise taxes on the high- achievers(over $250,000 income), that it would pay for only eight days of the calendar year’s spending by this current administration!”

And if you don’t raise them…how many days of the calendar year’s spending does it pay for?

Kamchak ~ Thug from the Steppes

August 6th, 2012
4:52 pm

Install term limits on all elected offices so they don’t give away the farm trying to line their own pockets.

We already have term limits — they’re called elections.

And any time I hear this crap about “term limits,” I have to remind the tools spouting off about it that re-election rates for congress critters hovers in the 80-90% range, so these term limiters are talking about other people’s representatives and not their own.

Ben Shockley

August 6th, 2012
4:52 pm

“More than 14 percent like Romney pays”

Well, the money that gets invested and thus is subject to capital gains taxes was taxed as income when it was originally earned, and much of what qualifies as capital gains is stocks, where the earnings were intially subjected to the corporate income taxes, and somethimes the “gains” realized by investments are really just inflation, so you get taxed on somethign that’s not really a gain, and corporate profits get taxed TWICE, one as corporate income then again as personal income, and a vast majority of Americans pay less than 15% even if their marginal rate is higher, because you get taxed little or nothing on the first $40K or $50K….

But those are all sophistictaed concepts and I know liberal much prefer blind wealth envy, so whatever….

Erwin's cat

August 6th, 2012
4:52 pm

Jay – What’s your opinion of Reid’s recent accusations on the floor about Romney paying zero taxes for 10 yrs w/o supplying a shred of evidence?

I'll alert the Media

August 6th, 2012
4:53 pm

If anyone can spot a tax cheat, it’s Obama. He’s had a whole lot of them on his inner staff.

Paul

August 6th, 2012
4:53 pm

Tom 4:47

That may very well be the case; however, this is the first time we’ve seen tax reform or increases dismissed in this way. It isn’t about current spending – it’s about realigning the rates to where they were in recent history, accounting for the drastic income increases one segment has realized compared to the other segment. In other words, recent tax changes are part of the reason one segment’s income has increased so drastically.

It’s about restructuring, not the diversionary issue of obtaining enough revenue to meet all current operating expenses.

They BOTH suck

August 6th, 2012
4:53 pm

Recon

Will acknowledge if the change comes next month, however will be waiting for your 1000th excuse if it does not. You will be spinning so much that Oreilly will cancel the slot he had scheduled for you.

:-)

barking frog

August 6th, 2012
4:55 pm

Cutting all the taxes on income over $250,000.
will not create a single job.

Bernie

August 6th, 2012
4:56 pm

MiTT….We The PEOPLE of America want to see YOUR PAPERS! PERIOD!

Jeffrey

August 6th, 2012
4:56 pm

To the poster who asked I think 35-39 percent is fair. That is about what my family pays and other members of my extended family all working for themselves or at high paying jobs. But I might not be qualified to answer your question, because I don’t refer to myself as a liberal (which I think is a derogatory term to you) I consider myself an intelligent independent.

GT

August 6th, 2012
4:56 pm

Glad Jay is back.

What I don’t understand is the thought that the Christian right is being attacked. Seems to me the minority in America are being destroyed by the dreamed up sins that Christians or someone using their license trump up and throw out to a receptive crowd of paid agitators. It is like saying Chick fil A is a victim when doing so doubles their sells. No a victim is one whose body is dropped in the desert, who can’t marry because of a birth defect he or she is told was their own doing, a woman who can’t get health insurance, not a person who doesn’t pay taxes because he goes along with the lack of respect for the human condition of this country and then says he spoke to God.

Recon 0311 2533

August 6th, 2012
4:56 pm

” If this is true, what does it accomplish, other than be a feather in the cap by the liberals?”

Tom, economically speaking it accomplishes nothing. The Obama campaign believes they can dupe certain segments of the electorate into believing their “fair share’ argument. Their problem is that it really only resonates within their existing base and hasn’t gained them much with Independents.

yuzeyurbrane

August 6th, 2012
4:56 pm

Welcome back, Jay.

Ben Shockley

August 6th, 2012
4:57 pm

“In fact, Fox didn’t call the Walker race until 9:56 ET. That was six minutes AFTER Rachel Maddow, the first to announce a result, called it on MSNBC.

Your serve, Mr. Shockley.”

Again, proving my original point, that polls and conventional wisdom don’t mean squat and are often fallible. You keep proving my point for me, thanks, I’m gonna go get some dinner since you’re taking over. I’ll make sure and give the Democrat parking my car a $2 tip.

Redneck Convert (R--and proud of it)

August 6th, 2012
4:58 pm

Well, I was going to make a wise crack about taxing the 50% that don”t pay income tax but then I recalled that they took out about $300 from my paychecks and I got a refund of around 5,000 bucks, so I decided to quit while I’m winning. Like Bubba the accountant tells me, hug your kid, or my grandkid, real tight.

Keep Up the Good Fight!

August 6th, 2012
4:59 pm

I’ll make sure and give the Democrat parking my car a $2 tip.

I bet he stiffs the attendant.

I'll alert the Media

August 6th, 2012
4:59 pm

And raising them will Mr. Frog. Most businesses will adjust payroll ( about 75% of their expenses) if they get a tax increase. Tax increases HURT the little man………But yes, it gains a vote I guess from making them new members of the entitlement class.