Does Romney's Tax Plan Get The Money From Mortgage Interest Deduction?

Aug 22, 2012 | Posted by: Mr_Bill | Full story: ourfuture.org

The Romney strategy of offering few or no details about anything lets him be everything to everyone, while denying anything that could be a problem.

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1 - 17 of 17 Comments Last updated Aug 22, 2012
Gravediggers

White House, TN

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#1
Aug 22, 2012
 

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Good morning all,

It's the usual pablum from 'Mr Bill': slanted and biased.
Conservatard

Memphis, TN

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#2
Aug 22, 2012
 

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Obviously, in order to have said tax cuts, it would require reducing or even eliminating certain tax deductions and write-offs, like mortgage interest deductions and education-related tax breaks.

Who cares if they will lose more in tax loopholes than gained by the tax cuts, which will leave them with a greater ($2,000) tax bill? The 1% is left with a net tax break because for high-income taxpayers, the cost of losing those tax loopholes is less than the money gained from the tax cuts. Yay!
Conservatard

Memphis, TN

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#3
Aug 22, 2012
 

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Correction, "Who cares if the middle to low-income tax payers will lose more.."
S-N-A-F-U

Sierra Vista, AZ

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#4
Aug 22, 2012
 

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Apparently, we're supposed to be more outraged of what Mr. Romney does with his money and other legal ventures than what O'Blunder does with ours.

I want to know why he and the dems haven't put forth a budget in nearly 4 years? The answer is, so their not restrained in spending more trillions of dollars, that we don't have -- putting us on the 'brink,' and on the path of a 3rd world debtor nation.

These picayune distractions are right of the Alinsky play book, "Rules for Radicals.
O'Bysmal can't run on his record, so he resorts to Chi-town crooked politics.

Mr. Obama, have I got this right? There are less unemplyed folks looking for jobs (given up), and there are fewer jobs available. So, the unemployment rate is lower? Do you really think a majority of us are that stupid?

Wise up!'Nuff said......

Since: May 11

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#5
Aug 22, 2012
 

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Conservatard wrote:
Correction, "Who cares if the middle to low-income tax payers will lose more.."
Obviously a lot of ultra wealthy people here on Topix couldn't care less. D

Doesn't really matter who gets elected. Economists predict a crash next year and it'll be interesting to see what stance these posters take when their stock portfolio becomes nothing more than bird cage lining.
Robert

Miami, FL

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#6
Aug 22, 2012
 

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Gravediggers wrote:
Good morning all,
It's the usual pablum from 'Mr Bill': slanted and biased.
I would not know I don't read things from sources like that, if it came from a legitimate news source it might have been interesting but you can't trust the information from biased sources like that.
Questioner

Rising Star, TX

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#7
Aug 22, 2012
 
Neither Romney's tax plans nor Ryan's "Path to Prosperity" name any tax deductions or credits (loopholes?) that they will eliminate. Both plans say they would 'broaden the base'. Ryan states it this way on page 46 of his 'Path to Prosperity' "The (tax) code is also patently unfair, as many of the deductions and preferences in the system which serve to narrow the tax base are mainly used by a relatively small class of mostly higher-income individuals. Washington should not be in the business of picking winners and losers." He does NOT name any 'deductions and preferences' to eliminate to broaden the base. I have seen both Romney and Ryan talk around the question in several interviews.
The Tax Policy Center's paper 'ON THE DISTRIBUTIONAL EFFECTS OF BASE-BROADENING INCOME TAX REFORM' makes an attempt to see what deductions and preferences would need to be eliminated to compensate for the revenue loss of reducing marginal rates by 20%. It made many assumptions since they had no specifics. Conservatives say the work is biased, but then so are they.

The bottom line is only the simpson-boyles draft proposal has shown the courage to give specifics to eliminate 'deductions and preferences'. Nobody talks about that. Neither the conservatives nor liberals have the guts to tell you what they will do if you give them power. Instead of jumping on one or the other bandwagon we need to raise 'ell and insist they get specific.
Questioner

Rising Star, TX

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#8
Aug 22, 2012
 
Robert wrote:
<quoted text>
I would not know I don't read things from sources like that, if it came from a legitimate news source it might have been interesting but you can't trust the information from biased sources like that.
Read primary sources rather than rely on the media. All the documents and positions in my last post are available on the web ...(yes I've read each one)

“Kiss Me You Fool!”

Since: Jan 08

Atlanta via Brooklyn NY

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#9
Aug 22, 2012
 

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Yes, Ryan's budget does away with the mortgage interest deduction.

He just won't tell the sheep.
Questioner

Rising Star, TX

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#10
Aug 22, 2012
 
OneRyder wrote:
Yes, Ryan's budget does away with the mortgage interest deduction.
He just won't tell the sheep.
Did he put in writing or is this an inside secret? Show us some proof, I personally think we will only see base broadening details when the legislation is introduced, or maybe vis amendments.

Does his budget bill give the details?
robert

Miami, FL

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#11
Aug 22, 2012
 
Questioner wrote:
<quoted text>
Read primary sources rather than rely on the media. All the documents and positions in my last post are available on the web ...(yes I've read each one)
I will read something in he media, even biased media which most of it is at least to some extent then go look for myself. It is usually the media that alerts so to something in the first place. What I don't bother to do is go read articles from websites with a set agenda they are trying to get across. For example I would not go to Obama's web site to read about something he is being criticized for, I know ahead of time I am not going to get the strait scoop. Same thing with this source, I don't even bother to read it after going to it the first time.
1 post removed
Sheik Yerbouti

Doylestown, PA

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#13
Aug 22, 2012
 

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Under mittwit's plan the working and middle class will be forced to subsidize the wealthy! Just more rethug contempt for working Americans!
xnutmegger

Phoenix, AZ

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#14
Aug 22, 2012
 
Sheik Yerbouti wrote:
Under mittwit's plan the working and middle class will be forced to subsidize the wealthy! Just more rethug contempt for working Americans!
Troll on , troll.
Anonymous

Norwich, CT

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#15
Aug 22, 2012
 
ya
Anonymous

Norwich, CT

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#16
Aug 22, 2012
 
no
Crack Head

Maple Heights, OH

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#17
Aug 22, 2012
 
Sheik Yerbouti wrote:
Under mittwit's plan the working and middle class will be forced to subsidize the wealthy! Just more rethug contempt for working Americans!
But as long as OWEbama ONE wants to cut it, it's alright???
xnutmegger

Phoenix, AZ

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#18
Aug 22, 2012
 
DNC slogan : " You make it , we take it".

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