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Author: wolsey1 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 134680  
Subject: Re: I'm confused. Date: 10/5/2012 10:49 PM
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Response to all - Jim2B, lowstudent, XLife


My question is simple.

In 2010 Obama was going to be criticized for raising taxes if he asked Congress to allow the 2001/2003 cuts in marginal rates and long-term capital gains to expire.

In 2013, Romney is going to take away ALL my deductions and increase my alternative minimum tax in order to finance an across-the-board 20% reduction in marginal tax rates. I think I'm going to be paying much more in taxes.

Shouldn't I consider Romney as raising my taxes? And if I adhere to conservative ideology, shouldn't I be opposed to this?

As an aside - I'm fine with paying more. There are some things that only government can do, and for government to do those things the money has to come from somewhere, and the only place for it to come from is from people and corporations that have it. :-)

Even considering that I'll pay more under both Romney and Obama, at least under Obama I know what my top marginal rate will be and can estimate my effective rate, whereas under Romney it's unknown.
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