Do you agree with Mitt that we should get rid of deductions for lower class (making less than $250K/yr)?

Question

so we can pay for tax cuts for rich??



 “Broaden the tax base.” Romney, when he talks about his tax plan (the one he’s lately stopped talking about) uses the phrase “broaden the tax base” to describe how he's going to pay for 20 percent cuts on all marginal rates, elimination of the inheritance tax, and a scaling back of investment taxes, including the capital gains tax. He says he’ll eliminate tax deductions and exclusions to pay for all that, but he’d have to raise so much revenue that he’d have to go after some pretty popular ones, like the mortgage interest deduction and the health care exclusion. Romney has dealt with this difficulty by refusing to say which tax breaks he’d eliminate. Romney has more or less given up trying to explain how he can implement his tax plan without raising taxes on “middle class” incomes below a threshold of $200,000 to $250,000 (a calculation at odds even with a highly sympathetic analysis by Harvard’s Martin Feldstein).

Dave · Accepted Answer

I think its important that we make sure the wealthiest Americans are taken care of.  Poor people dont really matter anyways.

fawdown · Answer

Scaling back on investment taxes is a throwback to when he was part of Bain capital.  It will not happen.  It is an idea created by wall street lobbyists in order to keep feeding propaganda that the market is a safe investment.  They spend millions to keep people sinking money into the market.  Additionally they tried to cover up the viability of safer and more secure investments such as annuities and indexed universal life.  This was to keep wall street working and with money to play with instead of providing real education to create financial security.  In a nutshell, Romney's attachment to wall street was one of the reasons for the meltdown in 2008.  

Adding taxes to middle or lower class is obviously to lower them for upper class.  It is also to help fuel the presumed need for market investments.  It creates the mentality, 'I need to do something, might as well try' instead of, 'I know exactly what to do'.  If everyone knew about the other types of retirement investments, Wall street would have the highest unemployment in the world.  Lobbyists and wall street have been fighting to keep these secrets for decades. 

Good reading, 'The great wall street retirement scam - Rick Bueter'

? · Answer

Do you think your lil 800-1000 check every two weeks is helping tge economy why are you gonna tax the people who spend more wich in return helps the economy why are you going to tax someone who achieved the American dream

AUSTIN · Answer

Tax the heck out of everyone with a job so I can sit in my recliner and get a check for doing nothing. Vote Obama.

Lisette · Answer

If he gets the Presidency, he better not touch my tax deductible - mortgage interest.  I am planning to do my part to stimulate the economy and get new house windows with my tax refund.

Anonymous · Answer

I would support the elimination of all tax deductions if we went with a 15% flat tax...

? · Answer

it's funny... cons were worried about higher taxes under Obama...

well, they may just actually get that with Mitt... lol

"widen the base"... "put their skin in the game"...

but you cons don't mind, right? you guys are all making so much money you can spend some to pay mitt's extra taxes, right?

yutsnark · Answer

I don't see much benefit in trying to take money from poor people.  Sort of Robin Hood in reverse.

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Do you agree with Mitt that we should get rid of deductions for lower class (making less than $250K/yr)?

8 Answers