He also wants to privatize social security and medicare, phase them out, and eliminate the payroll taxes.
Warren Buffet pays 10% or less (some say 1%) on his income and I’ve seen articles stating Romney pays 13%. With Newt’s plan, we the underclass damned near pay the same rates as the millionaires: 15% or less!! Fair is fair. /s
Of course if Newt gets his way and drastically cuts the income tax, then the federal government can’t possibly live on the reduced tax revenues and that has the establishment in a panic.
Well, surprise, surprise. Newt also wants to gut the federal government! Strip it of its unconstitutional socialist welfare programs and ship them all back to the states and the people where they can either control them locally or shut them down!
This is Reagan on steroids.
We’re talking major economic boom here!!
Go, Newt!!
Keep Romney unemployed and paying no income tax!!
Newt is correct. The counter to Obama’s class warfare approach should be that the current tax system is unfair and that tax code needs to be rewritten from the ground up so that there are no special loopholes and that EVERYONE should pay their fair share!
This is a great time to double down with the Flat Tax or the Fair Tax or some alternative. Keep specifics to a minimum, but beat the drum that a new Republican president is committed to a change in the tax structure that will benefit the American economy!
That sucker makes more while unemployed than I'll see in my lifetime.
I'd prefer him to remain unemployed as damage control.
Pop Quiz:
I am filthy rich and invest in numerous ventures and financial instruments. I get special tax treatment from the IRS in the way of capital gains. My taxes are reduced significantly and I live the life of Riley while the “little people” just trudge along and pay a much greater percentage to the government.
I am a small businessman and purchase raw materials and inventory for my business. Of course the government sees this as income, not a business necessity that will be sold or incorporated in a salable item later...exactly like an investment in stocks and other financial instruments that people like Romney deal invest in. I am taxes that year for these “investments” that will be sold and the net profits taxed later.
Would the “anointed ones” squeal like stuck pigs if their investment purchase was taxed at the time of purchase? I does not take an Einstein to figure that one out.
The “little businessman” is truly being screwed while the “fat cats” are being pampered by the IRS.
I am one of those small businessmen engaged in manufacturing and I feel the unjust pain each and every year I do my income tax.
EVERY AMERICAN CITIZEN should only pay the same rate of a set income tax with no exceptions to adjust the amount to be taxed. The only way to do this is to have a national sales tax that has absolutely no exemptions for anyone.
This says to me that Newt’s plan is more in compliance with the theme of the Founders than anybody else. The BIG GOVERNMENT Democrats of course are for taxing like a Swede which is opposite of the basis of thought that was the origin of our nations Founding direction.
Today we see a direction of a society that has been groomed to taxes, and tax manipulation by class tax warfare/envy, “Rich” versus “Poor”, jealousy for the purpose of breaking up the society into manageable “us versus them” factions to exploit by self serving organizations of ill intent.
I think Newt intends to open the windows, and if they resist break them to let the Leftist stink out. We need the fresh air, and if the stink insists upon staying perhaps bloody a nose to convince the stink to get the “H” out of our house. A clean, sweet smelling house is a content, and productive house that all dwelling within take pride, and satisfaction in their participation.
The Leftist stink has to go.
except for the the foreign accounts, where he pays nothing. (mittens that is). Loves our country so much he puts millions elsewhere.
Has anyone seen the “calculator” on Yahoo to see how long it would take you to make the money Romney has? This is outrageous media bias! It is only the beginning I’m afraid. They will probably have a wives calculator for Newt.
“Of course if Newt gets his way and drastically cuts the income tax, then the federal government can’t possibly live on the reduced tax revenues and that has the establishment in a panic.”
Actually, if Newt gets to implement his plan, the economy would likely rebound enough that federal tax revenues went UP. A LOT.
Wow. These class warriors are either ignorant or flat out liars. I suspect a little of both. Anyone discussing the issue that doesn’t understand that investment $ is very likely already taxed....