#24 Oct 7, 2012
Here's the deal. If Romney claims he'll cut taxes across the board 20%, then that statement, in and of itself, would mean millions more qualifying to not pay tax! Now there's you a real hum dinger!
But here's the deal for those of you that don't understand the way it all works. Actually, those in the 10%, would go to 8% for example and the 35% one would go to 28%. Subsequently, the wealthy get more ...as usual. But you see, people in the 10% don't actually pay any tax as a general rule if they qualify for any credit in the dictionary! So, you get nothing. Middle class...he says 5%, but wait a minute. NO! Middle class, the average middle class as one might refer to it which is about 2 shakes from poor, are the ones who usually take deductions and qualify for credits. Well, here's the deal. Romney is ELIMINATING the American Opportunity Credit which gives you the biggest bang for your buck on college tuition for you kids. Romney is ELIMINATING the refundable portion of the Child Tax Credit. In other words, back to pre Obama when you either use it or lose it! Eitc for the both the poor and lower middle class with kids? Well, bye bye to the extra that Obama gave to you of allowing you that 3rd child for Eitc purposes! Gone Gone Gone. Now what next? Let's see. For you average middle class, he's looking at phasing out some of your mortgage interest deduction AND he's raising the bar on medical. You would need to exceed 10% of your gross income vs the 7.5% now! Reagan raised that bar. Now Romney's doing it again! So, let's see how. He gives 2% to those who don't pay anyway, so he's gained 2%. He gives the average middle class 5%, then takes away 10%! Gotta love it.
Surely we don't have too many idiots out there that can't add 2=2. If so, I might have to sooner or later, part with my Kmart calculator! Darn it!
P.S. He's sure going to help those rich people though....7% drop is rate; keep everything they've had and give 'em more. Have them waltz even more on their investment income from foreign countries. He says they gonna create jobs ....like they do now! lmao
#25 Oct 8, 2012
your preaching a little harsh there arent you.
#26 Oct 8, 2012
#27 Oct 8, 2012
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