Romney proposes $250 bln economic stimulus package

Reuters ^

[Cruising Speed]

Buying votes from people with their own money.

What are you talking about?? This is letting people keep their money and we should all be for that.

[madison10]

Thought it was an attack of the DUers...

[Mrs_Stokke]

. . . he wants to give some people their and/or our money. But not everybody - just those that he thinks might be willing to vote for him. . . .

See, khnyny. Here's one.

[meyer]

The only ones losing money are the fatcats in Washington for their pet projects.

Given the record of most politicians, including Romney, that trend is likely to continue.

[Mrs_Stokke]

Thought it was an attack of the DUers...

And it will only get worse once Thompson drops out.

[Mrs_Stokke]

If he were serious about a tax break, it would be across the board. But he's not - he's just buying votes.

From the article:

He would also permanently reduce the corporate tax rate to 20 percent from 35 percent over two years and allow businesses to depreciate the value of new equipment purchases faster.

This will translate into savings for everyone across the board.

[khnyny]

It is laughable and rather sad. Here’s what Romney proposes:

—To permanently cut in the lowest income tax bracket to 7.5 percent from 10 percent.

—To make that cut immediately retroactive to 2007 tax liabilities.

—To permanently eliminate Social Security payroll taxes for workers over 65.

—To provide 100 percent expensing of new equipment purchased by businesses over two years retroactive to Jan 1 2008.

—To permanently reduce the corporate tax rate to 20 percent from 35 percent over two years.

—To permanently eliminate capital gains and dividends taxes on households earning under $200,000 a year, an idea he has previously proposed.

[meyer]

When he cuts my rate to 7.5%, then we’ll talk.

[P-Marlowe]

Oh, for crying out loud, the MSM always says that someone is "going to pay for the tax cuts."

It was an aide to Romeny who said it was going to "cost" $250 Billion. He insinuated that it was going to be a net loss in revenue to the government. It wasn't the MSM that made that claim, it was Romney's guy.

[Mrs_Stokke]

Careful, khnyny. You’re going to attract the attention of the AntiMitts.

[mtnwmn]

Romney is right. Now, if we can get him elected, and get rid of Congress, America will be back on track;o)

[Mrs_Stokke]

When he cuts my rate to 7.5%, then we’ll talk.

Who are you supporting in the primary, and has he offered a plan better than this?

[snowsislander]

Romney plans to propose permanently reducing the rate for the lowest income tax bracket to 7.5 percent from 10 percent, retroactive to 2007, eliminating Social Security payroll taxes for workers over 65 and eliminating capital gains and dividend taxes on households earning under $200,000 a year, CNBC said on its Web site.

He would also permanently reduce the corporate tax rate to 20 percent from 35 percent over two years and allow businesses to depreciate the value of new equipment purchases faster.

I think is very well done by Governor Romney. That appears to me to be a well thought-out mix of tax cuts, and I think that indeed it would have a positive economic effect. For what it is worth, I think it would have enough positive effect on the economy to more than pay for itself.

Of course, some spending cuts would also be a good idea; for instance, eliminating the federal Department of Education would make a nice complement to the tax cuts.

[T. P. Pole]

I’m no Mitt fan (go FRed!), but um, what the MSM is describing are tax cuts. We still like tax cuts on FR, right?

Yes, but not as much at some's hatred for Romney.

[gpapa]

Try this plan for one: http://www.fred08.com/virtual/taxrelief.aspx

[Mrs_Stokke]

From the article:

Republican presidential contender Mitt Romney is calling for a package of tax breaks expected to cost $250 billion, an aide said on Friday.

The aide is not directly quoted, as in, Republican presidential contender Mitt Romney is calling for a package of tax breaks "expected to cost $250 billion," an aide said on Friday.

It's an old reporter's trick to put words in someone's mouth.

[CASchack]

Yes, but not as much at some's hatred for Romney.

You can be sure that if it had been Fred proposing these tax cuts, these same detractors would be falling all over themselves to gush about it.

[Mrs_Stokke]

From the plan:

Reduced individual income tax rates, saving every tax-paying family a minimum of $600.
Preserving the $1000 child tax credit, which was doubled from $500 per child.
Protecting Marriage penalty relief.
Retaining Education tax incentives, including Coverdell Education Savings Accounts, 529 college savingsplans, and deductions for higher education expenses.
Reduced tax rates on capital gains and qualified dividends.
Increased expensing of investment for small businesses.

Much of this is already in place. The Thompson plan doesn't specify how he intends to impliment Reduced individual income tax rates, saving every tax-paying family a minimum of $600.

Romney's plan also allows for Increased expensing of investment for small businesses by reducing the corporate tax rate.

Overall, it looks as though Thompson's plan is very similar to Romney's, but Romney's plan is more detailed.

[Mrs_Stokke]

. . . eliminating the federal Department of Education would make a nice complement to the tax cuts.

I swear I dream about this at night.

It must be an election year . . .

[TWhiteBear]

I would have great problems voting for a Mormon. I know those folks, they take care of their families and each other. There are some quid pro quos that I do not like, and their theology is utter BS that is on a par with Scientology.
That said, speaking from my position as a Strong Thompson supporter, Mr. Romney has a very, very strong conservative position, a position that I like much more than that of Mr. Bush($800-3200 instant money winner lottery??? I think not),
lonevoice said,
‘I’m trying to wrap my head around the comments here that are saying reducing personal and corporate income taxes, eliminating capital gains and dividend taxes, and giving businesses an investment tax credit are bad things. Goodness gracious, how do these people define conservative economic policies?’
I agree with lonevoice.