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Mitt Romney suggests cutting mortgage interest deduction on eve of presidential debate
News Day ^ | October 2, 2012 | THE ASSOCIATED PRESS

Posted on 10/02/2012 7:52:58 PM PDT by RaisingCain

In an interview Monday night with Denver TV station KDVR, Romney said, "As an option you could say everybody's going to get up to a $17,000 deduction. And you could use your charitable deduction, your home mortgage deduction, or others — your health care deduction, and you can fill that bucket, if you will, that $17,000 bucket that way. And higher income people might have a lower number."

A Romney adviser said changes in other areas — a taxpayer's personal exemption and the deduction or credit for health care — would also be taken into account if deductions were limited as Romney suggested. Combining changes to those two areas with the limit on deductions would maintain Romney's goal of keeping tax burdens the same for wealthy and middle income taxpayers, the adviser said.

(Excerpt) Read more at newsday.com ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS: breaking; obamaeconomy; obamafailure; obamarecession; romneyryan2012
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This is not new. He made the same statement in a "secret" donor meeting back during the primary.
1 posted on 10/02/2012 7:53:04 PM PDT by RaisingCain
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To: RaisingCain

Watch him get pounded over this one.


2 posted on 10/02/2012 7:54:07 PM PDT by Attention Surplus Disorder (This stuff we're going through now, this is nothing compared to the middle ages.)
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To: RaisingCain

Frankly we should just scrap the whole corrupt failure that is the US Tax code.


3 posted on 10/02/2012 7:55:10 PM PDT by MNJohnnie (Giving more money to DC to fix the Debt is like giving free drugs to addicts think it will cure them)
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To: RaisingCain

Oh, good lord.
RC when will the insanity stop.


4 posted on 10/02/2012 7:57:05 PM PDT by svcw (Why is one cell on another planet considered life, and in the womb it is not.)
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To: RaisingCain

That’s ok. It removes the biggest straw man argument against the Fair Tax.


5 posted on 10/02/2012 7:57:15 PM PDT by Tench_Coxe
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To: RaisingCain

flat tax, mitt. no deductions


6 posted on 10/02/2012 7:59:41 PM PDT by plain talk
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To: RaisingCain

He’s a dummy. It’s one thing to think it, but don’t mention it before an election. He has a loser wish.

Back at him, how ‘bout for two years we make credit card interest deductible like it used to be? That’ll mess everyone up.


7 posted on 10/02/2012 8:00:00 PM PDT by madison10
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To: RaisingCain

We should ALL get to deduct primary mortgage interest at full value even if we file short form. My mortgage interest never gets deducted because I file standard deduction short form. I don’t have enough deductions to exceed the standard deduction......


8 posted on 10/02/2012 8:01:11 PM PDT by Red Badger (Is it just me, or is Hillary! starting to look like Benjamin Franklin?.................)
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To: RaisingCain

Well, some people are not going to like that proposal at all. But, you know, if you’re riding a big wave landslide, you can afford to sacrifice some votes.


9 posted on 10/02/2012 8:02:22 PM PDT by Tau Food (Tom Hoefling for President - 2012)
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To: RaisingCain

Here comes the bedwetting


10 posted on 10/02/2012 8:07:25 PM PDT by italianquaker (The 47 pct need to pay their fair share)
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To: RaisingCain

This will raise taxes for a lot of families. The last Republican we nominated who raised taxes was George W. H. Bush. After he raised taxes he lost.


11 posted on 10/02/2012 8:10:33 PM PDT by Alter Kaker (Gravitation is a theory, not a fact. It should be approached with an open mind...)
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To: plain talk

... actually ... with 3% interest rates the mortgage interest deduction ain’t what it used to be anyway. My first home loan was at 13%.


12 posted on 10/02/2012 8:11:23 PM PDT by plain talk
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To: Tench_Coxe

EXACTLY!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!


13 posted on 10/02/2012 8:15:08 PM PDT by bandleader
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To: RaisingCain
Way to go Mitt, tell the voters who want to vote AGAINST Obama that they now need to vote against YOU.

Brilliant move ... no, really, brilliant. Guess you're trying to THROW the election?

14 posted on 10/02/2012 8:15:38 PM PDT by usconservative (When The Ballot Box No Longer Counts, The Ammunition Box Does. (What's In Your Ammo Box?))
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To: RaisingCain

Mittens has a terminal case of foot-in-mouth disease.

I’ve heard of having a “death wish”.

Mitt seems to have a “lose wish”.


15 posted on 10/02/2012 8:17:19 PM PDT by lightman (Settling for the "lesser of two..." is still choosing Evil)
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To: usconservative; All

This isn’t new. This came out early on in the Primaries and was even discussed on Free Republic for at least one thread. It was from a donor meeting that was allegedly supposed to be secret, but we found out about it anyway.

I don’t think Mitt comprehends that it’s at all risky or a problem.

I’m still trying to figure out though the point of lowering taxes just to get people to pay about the same amount via closing loopholes and deductions. It’s the same gimmick he pulled in his home state, and I truly do not understand what the selling point is. A simpler tax system?


16 posted on 10/02/2012 8:19:11 PM PDT by RaisingCain
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To: RaisingCain

Wish he would drop the class warfare bit. Every taxpayer should have deductions lowered.


17 posted on 10/02/2012 8:19:54 PM PDT by RginTN
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To: MNJohnnie

That would be one of the most productive things Romney could ever do.

Get the tax code written, so it’s competitive.


18 posted on 10/02/2012 8:20:13 PM PDT by Jonty30 (What Islam and secularism have in common is that they are both death cults.)
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To: RaisingCain

The Denver Dementia continues. First with the “Dream” amnesty statement (will not deport those who ‘paid for’ Obama’s lawless amnesty decree), and now this pointless stupidity.


19 posted on 10/02/2012 8:25:06 PM PDT by montag813
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To: svcw

Herman Cain wanted to cut all the deductions, so this should be popular with some posters.


20 posted on 10/02/2012 8:25:18 PM PDT by CharlesWayneCT
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