Romney Tax Plan on Table. Debt Collapses Table.

Bloomberg:

I can describe Mitt Romney’s tax policy promises in two words: mathematically impossible.

Read the whole story at Bloomberg

Comments

[mutopis]

11:24 AM on 08/04/2012

Romney's Plan: Tax cuts for the wealthy, taxes for the middle class and the poor. The End.

[ejfreeman]

10:59 AM on 08/04/2012

Facts: 60 year low in taxes, Largest profits ever from wall st, Biggest bonuses, Lowest wage gain
and look how they are carrying on. GREED GREED GREED

[Zander Beal]

09:58 PM on 08/03/2012

Businesses do not create jobs out of the goodness of their hearts. On the contrary, all incentives are to reduce jobs, to improve earnings. They will only create jobs as a last resort when demand grows so much that they have to add more workers. And that is what is happening: sluggish growth to meet sluggish demand. Only massive government spending can jump start this economy. That is how we got out of the Great Depression. (Remember WW II? Maybe not.) Wouldn't it be great to have massive spending on this country rather than spending to blow up other countries?

[cruller]

04:05 PM on 08/03/2012

A very good post from Greg Sargent at The Plum Line regarding Romney's tax plan -

http://www.washingtonpost.com/blogs/plum-line/post/romney-confirms-his-tax-cuts-wont-be-paid-for/2012/08/03/85d88594-dd9e-11e1-8e43-4a3c4375504a_blog.html

[hammerhead6154]

04:01 PM on 08/03/2012

According to Moody's Analytics, businesses are sitting on near record profits, amounts not seen since the '50s and '60s. Where are the jobs? How do you justify giving businesses additional tax breaks when they aren't creating jobs with the excessive profits they are already holding? In spite of what republicans might think, this is a consumer driven economy, not a profit driven economy. Consumers are the job creators, not businesses and not millionaires. We need to put more money in the hands of consumers who will in turn create the demand which will result in the creation of jobs, jobs and more jobs. Tax breaks for businesses and the wealthy will not get the economy turned around.

[JackHoffman]

04:01 PM on 08/03/2012

I wish GOPTP voters could read. It would make things so much easier.

[Anniebody]

07:48 PM on 08/03/2012

All they can read are their Bingo cards.

[cruller]

03:44 PM on 08/03/2012

This is a very good article by Ezra Klein about the primary way that Romney has said he is going to turn the economy around. Cutting taxes has been affirmed by Romney as his most important tool in growing the economy and this article clearly throws a lot of his assumptions into question. Unfortunately tax policy makes most voters eyes glaze. Infographics are helpful!

[FBueller]

03:19 PM on 08/03/2012

"The numbers never worked out. No matter how hard the Tax Policy Center labored to make Romney’s promises add up, every simulation ended the same way: with a tax increase on the middle class. The tax cuts Romney is offering to the rich are simply larger than the size of the (non-investment) deductions and loopholes that exist for the rich. That’s why it’s “mathematically impossible” for Romney’s plan to produce anything but a tax increase on the middle class. "

And this from the man who wants to be our King. Good plan Romney....screw the little people even more, while enriching yourself and your buddies, it worked for you at Bain....why not take it global??? Then offshore even more of your riches while essential services are cut in America. You make me sick.

[fearthebetenoire]

02:48 PM on 08/03/2012

Outstanding analysis! And the headline is pretty good, as well!

If this is the best that Mr. Romney and co. can do, he is even less qualified to handle the economy than I, and many others, have previously maintained. This "plan" would not earn a grade of C- in any serious macroeconomic policy course at any reputable college in the country.

[neillevine]

01:47 PM on 08/03/2012

Romney counting on more growth than Obama. A bigger pie pays for more.

[soulgirl]

01:42 PM on 08/03/2012

Did you know Romney is a recording artist? yea-same tape of what he can do when Governor and now for president: Here is a video of the results of what happened when he was gov-not so good:
http://www.youtube.com/watch?v=cHNINdKW49g

[evefontenot]

01:24 PM on 08/03/2012

Yep...The word is out

http://www.washingtonpost.com/blogs/fact-checker/post/a-tough-new-obama-ad-that----surprise----is-accurate/2012/08/02/gJQAuigQSX_blog.html?Post+generic=%3Ftid%3Dsm_twitter_washingtonpost

[Gestas]

12:42 PM on 08/03/2012

This sounded good to Willard..Why not,,, He's not a Tax Payer.

[whatt]

12:37 PM on 08/03/2012

You mean to tell me trickle down won't work???????????? Say it ain't so!!!!!!!!!!!

[FBueller]

03:21 PM on 08/03/2012

Tinkle down does work. We get a warm wet feeling courtesy of the rich..