16 thoughts on “Romney’s tax plan explained—finally”

  8. Actually you could probably re-use the same page for:

    – Romney’s Foreign Policy
    – Romney’s Abortion Policy
    – Romney’s Healthcare Policy
    – Romney’s Carrying-dogs-on-the-roof Policy

    Oh wait … we do have details on that last one, scratch it.

    Mike.

  10. I bit even after reading all the comments. This would be hilarious if it were not so painfully true.

  12. Actually the plan is simple.

    1) He will give an across the board tax reduction of a further 20%.

    2) He will not reduce the portion that the rich pay.

    Therefore he will reduce taxes on the rich by 20% and not increase them, either in proportion or in absolute terms.

    Simple.

    As for the “no increase in deficit”, he will just phase out Social Security, Medicare and Medicaid.

    Still simple.

    1. …and there will still be money left over to increase the “defense” budget of a country with the largest defense budget in the world – as big as the next 20 (who are mostly allies) combined.

    2. I think it can be simplified even further.

      Romney plans on cutting taxes for everybody increasing spending on important things like the military, and he’s going to pay for it by creating new jobs and eliminating frivolous things that nobody needs or wants like Big Bird and women’s health care.

      Never mind that the outflow (revenue reduction and increased spending) totals several trillion, and the proposed offsets only total a couple trillion at most; the magic faery dust of giving billions of dollars to the Waltons will somehow create enough more jobs that enough people will pay enough new taxes to make up the difference.

      Of course, it’s been overwhelmingly demonstrated that tax cuts for the wealthy act as a powerful depressant to the economy, and that it’s not the wealthy that create new jobs.

      New jobs are created when a business is so overwhelmed with demand that it has no choice but to hire people to carry the extra weight. So, if you want to create jobs, you have to create demand for products and services.

      And the wealthy demand far less, proportionally, than the middle and lower classes.

      Somebody in the middle class who earns $50,000 / year will have a couple cars worth $20,000 – $40,000 (new) each.

      Somebody in the upper class who earns $5,000,000 / year will have a few cars worth $100,000 or so (new) each.

      Yes, that’s more demand from the upper class…but it’s most emphatically not a hundred times more.

      Somebody in the middle class will have one washing machine, one dryer, one oven, one dishwasher. Somebody in the 1% who earns a thousand times more might, maybe, have a half dozen of each.

      So, if you want to increase demand and thereby increase jobs, you want to be putting the money in the hands of those who’ll spend most of it on goods and services, and not just give it away to people who’ll just squirrel it away in the Cayman Islands.

      Cheers,

      b&

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