Friday, October 19, 2012

Mitt Romney's Claim that Six Studies Support His Tax Plan Falls Apart

Mitt Romney's 5 Point Plan

But the talking point about the talking point is unraveling.
More and more mainstream outlets are pointing out that they fail to validate its soundness. And on Sunday Romney senior adviser Ed Gillespie was challenged on Fox News by Chris Wallace, who questioned whether the studies are really nonpartisan.
“Those are very questionable. Some of them are blogs. Some of them are from the AEI [American Enterprise Institute], which is hardly an independent group,” Wallace said. “One of them is from a guy who is — a blog from a guy who was a top adviser to George W. Bush. These are hardly nonpartisan studies.”
Of the six studies, two are blog posts by the conservative American Enterprise Institute; one is a report by the Republican-friendly Heritage Foundation; one is a paper by Princeton professor and former George W. Bush adviser Harvey Rosen; the fifth and sixth are a Wall Street Journal op-ed and blog post by Harvard economist Martin Feldstein, an adviser to the Romney campaign.
In addition, not all the studies appear to reach the same conclusion as Romney. He contends they show that it’s possible to lower tax rates across the board by 20 percent and avoid adding to the deficit by unwinding deductions and credits for high incomes. That’s not the case.
Read rest at TPM.

Already Romney has us on notice that rich people will be paying 0% tax on investment income.  So you work though pain and mind boggling boredom, possibly under conditions that you're not sure are safe.  But those, like Romney who's income is completely based on investment don't pay anything.  And for that you will pay by the destruction of Social Security for which you have paid 15% of your income every year for decades (with a possible partial payment even smaller than your return these days), and Medicare for which you pay every year you work becomes an inadequate  "coupon" for $5000k a year (their words) at a time when your medical care can cost hundreds of thousands.  Personally, I don't know why Americans can't realize that the dump of Medicare is actually a  plan to reduce the rolls of people on Social Security (which may continue to pay a stipend to senior citizens which would likely be inadequate for independent living) by killing older people off at a younger age.

Yeah, that's me and you, buddy.

But don't forget the upside.  Wealthy investors will pay no tax on their investments which create more wealth for them off your pain, time, and almost overwhelming need to sleep at many hours of work each week.

The GOP is betting you will vote for them most likely just because you are dumb, or a racist type who would just rather have a white candidate to vote for, without looking too much into the reality of his plans.

Just let the Mainstream Media guide you to the Romney light, even though every news person is afraid of losing their jobs in a shrinking market of less strenuous jobs for good pay, and an industry owned and tightly controlled by billionaires who want Romney's mega tax cuts for fat cats.

Image at top used via Creative Commons License Attribution  (CC by 2.0).  Thanks to Flickr user DonkeyHotey who has no connection to this blog or blogger.