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6 Answers
- ConvexLesLv 69 years agoFavorite Answer
Romney has said on 60 minutes that he feels the wealthiest Americans should be paying a lower tax rate than the middle class. Obama wants to let Bush's tax cuts expire on the wealthiest tax bracket, but he wants to make those tax cuts permanent for the middle class and below. (Obama has actually lowered tax rates 18 times, for middle class workers, and for small businesses.)
The tax cuts that Romney has proposed would decrease federal revenue by 4.8 trillion dollars, and would take away the deductions that the middle class depends on the most. (Mortgage interest, child care credits, student loan interest, etc.) But he wants to eliminate the capital gains tax breaks, that rich people like Romney benefit from the most - more so than the middle class does. Independent economists say that the only way the math would 'work'... to pay for Romney's tax cuts for the rich, would be to pass the burden down on the middle class... there would be no other way to pay for it.
If you are a multimillionaire or a billionaire - Romney's the guy for you.
If you make less than $1,000,000/year - vote for Obama.
- Anonymous9 years ago
In the short run, Obama will cost more. That's only because Republicans have learned that their chances are only higher than minimal to get elected if they cut taxes and borrow the entire difference. Stupid people think they get something for nothing that way. Romney is promising a 20% rate reduction and it's A GREAT BIG DAMN LIE that he'll close enough loopholes to balance the budget. After Romney explodes the debt to the extent that we must, for the first time, pay the interest instead of borrowing it, taxes will be higher.
Republicans cut taxes and explode spending consistently. So the question is: Would your tax bill be lower absent about $10 trillion in GOP debt? The answer is yes, they would be lower if Republican had never cut taxes paradoxically.
Think long term. Vote Democrat.
- ?Lv 49 years ago
Obama says he wants to increase taxes for only the rich? False.
The proposed tax that he wants will increase everyone's taxes!
http://www.redstate.com/dhorowitz3/2012/07/10/obam...
Last time i checked, no one! No one likes taxes!!
- DaddioLv 79 years ago
We already know B.O.s will raise our debt to at least 20trillion if his policies remain 4 more yrs. Romney wouldn't top that
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- Hybrid MomentsLv 69 years ago
Romney his tax cuts will have to be paid for somehow and he hasn't explained how his math doesn't add up which makes me nervous if we can afford millionaires to payless in taxes.
- Anonymous9 years ago
Do this web search: policy plan of republican party
Do this web search: policy plan of democrat party