Debate eve: Romney says he might cut ...

Debate eve: Romney says he might cut deductions

Posted in the Minneapolis Forum

Smart Liberal

Minneapolis, MN

#1 Oct 2, 2012
DENVER—Offering tax reform ideas before his first debate with President Barack Obama, Mitt Romney says he might be willing to reduce income tax deductions used by millions of families for home mortgage interest and health care costs
Romney suggested the changes could be part of a plan that includes a 20 percent cut in tax rates across the board, continuation of upper income tax cuts that Obama wants to end and a comprehensive tax overhaul plan that the Republican presidential contender has so far declined to flesh out in detail. Romney says his overall plans would invigorate the slowly recovering U.S. economy.

Both Romney and Obama spent Tuesday mostly in private, preparing for the debate, the president in Henderson, Nev., near Las Vegas, Romney already in Denver where the faceoff will take place Wednesday at 9 p.m. EDT. Neither held public campaign events, but Obama took a break from preparation to visit nearby Hoover Dam, and Romney picked up lunch at a Chipotle Mexican Grill near his hotel.

In an interview Monday night with Denver TV station KDVR, Romney said, "As an option you could say everybody's going to get up to a $17,000 deduction. And you could use your charitable deduction, your home mortgage deduction, or others—your health care deduction, and you can fill that bucket, if you will, that $17,000 bucket that way. And higher income people might have a lower number."

A Romney adviser said changes in other areas—a taxpayer's

----------

Advertisement

----------
personal exemption and the deduction or credit for health care—would also be taken into account if deductions were limited as Romney suggested. Combining changes to those two areas with the limit on deductions would maintain Romney's goal of keeping tax burdens the same for wealthy and middle income taxpayers, the adviser said. Under such a proposal, some taxpayers' deductions could remain unchanged.
On another controversial subject, in a separate local interview ahead of the debate, Romney told The Denver Post that he would honor the temporary permission the Obama administration has granted to many young illegal immigrants to allow them to stay in the country.

Obama announced in June that he would prevent deportation for some children brought to the United States by illegal immigrant parents. Applicants must not have a serious criminal record and must meet other requirements, such as graduating from high school or serving in the U.S. military.

Romney had previously refused to say if he would retain the policy if he won the election.

He granted the interviews as he and Obama looked ahead to the debate, the first of three they will hold before Election Day, Nov. 6.
Smart Liberal

Saint Paul, MN

#2 Oct 3, 2012
Nice.

Offering tax reform ideas before his first debate with President Barack Obama, Mitt Romney says he might be willing to reduce income tax deductions used by millions of families for home mortgage interest and health care costs
Bridgework

Olathe, KS

#3 Oct 3, 2012
He said limit, not reduce (but you knew that).
Smart Liberal

Chicago, IL

#5 Oct 3, 2012
The middle of the end of Romney.

Tell me when this thread is updated:

Subscribe Now Add to my Tracker

Add your comments below

Characters left: 4000

Please note by submitting this form you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

Minneapolis Discussions

Title Updated Last By Comments
Drop one word....add one word game (Apr '14) 34 min Mutant-cucumber 627
Get Over It! 3 hr Evil Roy Slade 10
News Global warming 'undeniable,' scientists say (Jul '10) 5 hr Nipz9777 35,608
Obama & BLM mourn monstor Fidel Castro Fri Protesters CAN WORK 50
Child sex ring>Pizzagate>Clinton's>Obama's>FBI ... Dec 1 Georgia 1
News Cops To Drunk Drivers: We'll Make You Listen To... Nov 30 Ferrerman 20
BLM urge rioting over OSU SHOOTING Nov 30 Drumpf 14

Minneapolis Jobs

More from around the web

Personal Finance

Minneapolis Mortgages