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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 1976082  
Subject: Re: GIngrich: Flip flopped on taxes Date: 10/7/2012 3:30 PM
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Step 1: Make permanent marginal rate cuts.

Step 2: Change those permanent rates that I just made permanent in step 1 to take another 20%.

I admit it could be that I lack cognitive skills, but the only way I see it is that the 20% cuts= Bush tax cuts.



Initially I read it that way, as well.

Then when several media outlets, including Tax Policy Center that documents speaking with Romney's campaign on tax issues, reported the 20% cut from the 35% rate rather than the 39.6% rate and Romney's campaign hasn't stepped forward to say otherwise, I re-read his tax plan to mean,

"Make permanent across-the-board 20 percent cut in marginal rates." (take out the comma).


Also, going from 39.6 down to 35 is only 11%, not 20%, so that's further evidence he intends for the 20% cut to be from current levels rather than post-expiration levels.
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