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Author: kenm47 Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 1967155  
Subject: Re: GIngrich: Flip flopped on taxes Date: 10/7/2012 2:00 PM
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"Did Romney ever say he would cut taxes for job creators?"

What does 20% cuts across the board mean?

"Now we know that Gov. Romney’s tax plan does not call for a $5 trillion tax cut. Which means that we now officially know nothing at all about Mitt Romney’s tax plan.

Previously, Governor Romney has said that his tax plan would cut all individual income tax rates by 20%, eliminate the AMT, eliminate the estate tax, and eliminate taxes on investment income for low- and middle-income taxpayers. He would also extend all of the Bush-era tax cuts that are scheduled to expire at the end of 2012."

http://www.forbes.com/sites/leonardburman/2012/10/04/about-m...

"Romney’s proposed tax changes would work like this: He would cut income tax rates by 20% across the tax brackets and eliminate taxes on capital gains and dividends for those earning less than $200,000; but to avoid lost revenue – keeping the plan "revenue neutral" – he calls for closing tax loopholes and deductions enjoyed by upper-income households.
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The nonpartisan Tax Policy Center, a joint project of the Urban Institute and Brookings Institution, has said the Romney proposal would cost $360 billion in the first year before it is offset by closing loopholes, which others have extrapolated to estimate that it would amount to $5 trillion over the decade."

http://www.latimes.com/news/politics/la-pn-fact-check-debate...

Ken
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