Herman Cain wanted to cut all the deductions, so this should be popular with some posters.
Herman Cain wanted to cut all the deductions, so this should be popular with some posters.”
Yeah, but it was going to be come with an actual tax cut to 9 percent on individuals, businesses and a sales tax. The effect would be astounding, and would be a good first step to moving straight into a pure fair tax system.
The entire purpose of Romney closing deductions is just to insure that people are paying generally the same amount they were before.
The real argument, instead of caving into the leftist accusation that cutting taxes will not be deficit neutral, is just to make it clear that spending will be cut for any alleged shortfalls, and that tax reform in and of itself would spur job creation and, therefore, government revenue. Instead, Mitt is accepting their argument and essentially saying that he isn’t really cutting taxes. Meanwhile, the left is arguing that Mitt isn’t just cutting taxes for the rich, but is going to raise taxes on the middle class to pay for it. This is like loading your gun and putting it to your head. I’m not seeing any real plan or purpose being promoted here. Cain was magnificent because his purpose was precise and bold. Romney’s plan is neither precise nor bold, and when it gets precise, it decides to get bold with a losing message.
I suppose it could work, if an only if rates were lowered to about 5%.
Oh, hell throw the whole code out and go for a flat tax of 10%, with the first 25K exempt.
You have an idea Charles?