You really aren't very bright are you? Of course you can increase tax revenue with a cut in rates, while at the same time removing loopholes. It's simply a matter of the net effect. One reduces and the other increases. The net effect is the revenue; it's not rocket science.
Originally Posted by joe bloe
heres what obama said concerning romney and the tax plan he ascribed to romney:
"And the fact is that if you are lowering the rates the way you described, Governor, then it is not possible to come up with enough deductions and loopholes that only affect high-income individuals to avoid either raising the deficit or burdening the middle class. It's -- it's math. It's arithmetic."
romney stated he wanted to lower the rates but not the taxes on the wealthiest earners and also he replied he wasn't going to raise taxes on the middle class.
Lets dissect this.
Romney did say he wants to lower the rates
obama threw in a straw man in his attack on romney's tax ideas ..
it was: "it is not possible to come up with enough deductions and loopholes that only affect high-income individuals"
at no time did romney say "that only affect the high-income idividuals" in regard to deductions and loopholes
if rates are lowered for everyone cant also deductions be lowered for everyone and yet leave the middle class unscathed?
you lower the rates for the middle class, the deductions can be addressed also, not just for the richest but why not the middle class? leaving the middle class without a rise in their taxes but with a simpler tax system
as obama said "it's math, it's arithmetic"
oh and btw heres where obama lied about the oil industry and exxon mobil just to get the ignorant envious vote:
obama:
"The oil industry gets $4 billion a year in corporate welfare. Basically, they get deductions that those small businesses that Governor Romney refers to, they don't get.
Now, does anybody think that ExxonMobil needs some extra money, when they're making money every time you go to the pump? Why wouldn't we want to eliminate that? "
EXXON does not get percentage depletion
