What tax deductions will Romney eliminate in order to pay for his tax cuts? - Page 3 - TigerDroppings.com

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SlowFlowPro
Stanford Fan
Simple Solutions to Complex Probs
Member since Jan 2004
292810 posts

re: What tax deductions will Romney eliminate in order to pay for his tax cuts?


quote:

If the tax cuts do not correspond with spending cuts then they are paid for by borrowing.

what if tax cuts lead to increased tax receipts






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SlowFlowPro
Stanford Fan
Simple Solutions to Complex Probs
Member since Jan 2004
292810 posts

re: What tax deductions will Romney eliminate in order to pay for his tax cuts?


quote:

Which are almost entirely the result of the housing bubble.

there is always a bubble

do you say the economy of the 90s was great, but then dismiss Clinton b/c that growth was "almost entirely the result of the dot com bubble"?






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glaucon
LSU Fan
Baton Rouge, LA
Member since Aug 2008
4204 posts

re: What tax deductions will Romney eliminate in order to pay for his tax cuts?


quote:

Yeah: Ask Barney Frank about protecting Fannie/Freddie and how they passed laws that forced lenders to loan to borrowers who had no business buying, or face litigation from the US government.


I didn't say Bush was to blame for the housing bubble. I said his economic growth numbers are dependent on it.






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TROLA
LSU Fan
BATON ROUGE
Member since Apr 2004
6197 posts

re: What tax deductions will Romney eliminate in order to pay for his tax cuts?


quote:

Let me guess...we have to elect him in order to find out, right?

Same song different thread.. The man was being honest in saying that he will have to work with Congress to find some common ground/compromise.







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LSUAlum2001
LSU Fan
Tier BP
Member since Aug 2003
27551 posts

re: What tax deductions will Romney eliminate in order to pay for his tax cuts?


quote:

If the tax cuts do not correspond with spending cuts then they are paid for by borrowing. In other words, it would be government spending.


No shit?

The reason why people are against tax increases now is because of runaway spending. The current administration wants to raise taxes without cutting spending.

Romney/Ryan will cut spending and lower taxes.



This post was edited on 10/4 at 2:19 pm


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constant cough
LSU Fan
Lafayette
Member since Jun 2007
35459 posts

re: What tax deductions will Romney eliminate in order to pay for his tax cuts?


quote:

What tax deductions will Romney eliminate in order to pay for his tax cuts?



The year 2000 just called and Al Gore wants his talking points back.






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LSUAlum2001
LSU Fan
Tier BP
Member since Aug 2003
27551 posts

re: What tax deductions will Romney eliminate in order to pay for his tax cuts?


quote:

I said his economic growth numbers are dependent on it.


The housing crisis was going to happen sooner or later and was 10+ years in the making.

The mini-recession at the turn of the millenia was the dot.com bubble bursting and had nothing to do with the housing crisis.

The growth occurred after that had happened.



This post was edited on 10/4 at 2:19 pm


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BigBoyTiger
LSU Fan
Chicago
Member since Aug 2005
8751 posts

re: What tax deductions will Romney eliminate in order to pay for his tax cuts?


quote:

In other words, it would be government spending.


It really isn't though. The government is foregoing revenue, it isn't "spending" anything.






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Tiger n Miami AU83
Auburn Fan
Miami
Member since Oct 2007
33709 posts

re: What tax deductions will Romney eliminate in order to pay for his tax cuts?


quote:

Well, Romney did state on numerous occasions that he was all for closing loopholes and deductions, but he never specified what they were.

If people on here would intelligently debate instead of blindly thrashing Obama, this could be a productive discussion.


Good luck with that.

quote:

What deductions should fall by the wayside given Romney's statement?


Pretty much all of them. Every. Single. One.

That is the correct answer if Romney's tax cuts (20%) across the board were implemented.

Saying growth will pay for them is cute, but wishful thinking, not logical responsible thinking.

But seriously, frick it. I have already estimated if Romney's tax plan passes, I should take home about $10k more next year. So lets do this.



This post was edited on 10/4 at 2:23 pm


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Decatur
New Orleans Saints Fan
Member since Mar 2007
17547 posts

re: What tax deductions will Romney eliminate in order to pay for his tax cuts?


quote:

Same song different thread.. The man was being honest in saying that he will have to work with Congress to find some common ground/compromise.



Until then he can promise pie in the sky

Some of what he is proposing to do will have very important implications. I don't see why we can't look at it now to see if his ideas have any chance of success or whether they will be beneficial.






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LSUAlum2001
LSU Fan
Tier BP
Member since Aug 2003
27551 posts

re: What tax deductions will Romney eliminate in order to pay for his tax cuts?


quote:

Until then he can promise pie in the sky


..and this is different than Obama's promises in 2008?

The people here actually agree with Romney on the way to fix this economy.






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dr smartass phd
LSU Fan
Valerie Jarrett's School Picture
Member since Sep 2004
11352 posts

re: What tax deductions will Romney eliminate in order to pay for his tax cuts?


Congress dictates tax policy, ask them.





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BlackHelicopterPilot
LSU Fan
Top secret lab
Member since Feb 2004
32419 posts
 Online 

re: What tax deductions will Romney eliminate in order to pay for his tax cuts?


Fellas,

We are being too harsh. We should give the specifics...just like their favorites always did.

Thus;

1) Romney will put the funds in a lock box (Al Gore)



2) Romney will use a scalpel on the budget (Obama)




Now, there are some specifics






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Tiger n Miami AU83
Auburn Fan
Miami
Member since Oct 2007
33709 posts

re: What tax deductions will Romney eliminate in order to pay for his tax cuts?


quote:

I don't see why we can't look at it now to see if his ideas have any chance of success or whether they will be beneficial.


Honest answer? Because he knows the ONLY way for his idea to work is explosive unprecedented growth. And that is pie in the sky bullshite, period.






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crimsonsaint
New Orleans Saints Fan
Member since Nov 2009
31513 posts

re: What tax deductions will Romney eliminate in order to pay for his tax cuts?


quote:

It was a great debate


I'm assuming you're an Obama supporter and that comment^ is a joke.






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Decatur
New Orleans Saints Fan
Member since Mar 2007
17547 posts

re: What tax deductions will Romney eliminate in order to pay for his tax cuts?


No, it was actually more substantive than I expected. It got Romney on the record with a few things. Specifics are RomneyKryptonite.





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Catman88
LSU Fan
Baton Rouge, LA
Member since Dec 2004
39348 posts

re: What tax deductions will Romney eliminate in order to pay for his tax cuts?


quote:

ONLY way for his idea to work is explosive unprecedented growth


You realize that with where the coporate margins are right now if this doesnt occur no matter who is elected we will have a much bigger stock market colapse in the next few years that will make 2008 look like a walk in the park.

The margins cant keep growing without an economy to back it up. The margins are at an all time high. (why do you think the stock market is up?)






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Burt Reynolds
Florida State Fan
L.A.
Member since Jul 2008
15995 posts

re: What tax deductions will Romney eliminate in order to pay for his tax cuts?


quote:

and for the buggers who object to my language "pay for"...just assume I mean revenue neutrality



More Americans employed = Higher tax revenue

It's that simple






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glaucon
LSU Fan
Baton Rouge, LA
Member since Aug 2008
4204 posts

re: What tax deductions will Romney eliminate in order to pay for his tax cuts?


quote:

there is always a bubble

do you say the economy of the 90s was great, but then dismiss Clinton b/c that growth was "almost entirely the result of the dot com bubble"?


The difference was that the 90's were not almost entirely the result of the dot com bubble. A large part of that growth was due an increase in worker productivity (not that Clinton can take any credit for that).



There was a bubble that resulted in a market correction. But the dot com bust and the 2008 recession are not equivalent events. You also are smart enough to know this. Bush's tax cut raising revenue is a result entirely of them corresponding with the lead up of the housing crisis.



That graph was the Bush economy's economic growth.



This post was edited on 10/4 at 2:35 pm


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elposter
Alabama Fan
South Carolina
Member since Dec 2010
7758 posts

re: What tax deductions will Romney eliminate in order to pay for his tax cuts?


quote:

If the tax cuts do not correspond with spending cuts then they are paid for by borrowing. In other words, it would be government spending.


Tax cuts do not necessarily mean tax revenue cuts. So it does not necessarily follow that there will be anything to pay for. People just continually assume tax cuts mean revenue cuts.






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