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News & Politics News & Politics

Gingrich Concedes Romney Wasn’t Honest About His Tax Plan During Debate

Posted by on Oct. 7, 2012 at 12:16 PM
  • 9 Replies

This morning on Meet The Press, Obama campaign adviser Robert Gibbs confronted Newt Gingrich on a fundamental inconsistency in Romney’s description of his tax plan. During the primary debates, Romney insisted that everyone in America would get a 20% tax cut, including the 1%. But last week’s during his debate with Obama, Romney insisted that his tax cut would not reduce taxes at all for wealthy Americans.

Gingrich acknowledged the clear inconsistency, saying “I think it’s clear he changed.” He described the change as “good politics.”

Watch it:

Of course, while Romney’s spin regarding his plan has changed, the plan itself has not. Independent experts have concluded that, even if Romney eliminated every tax deduction, it still wouldn’t counterbalance his massive tax cuts for the wealthy.

His tax plan was one of 27 issues where Romney was less than honest during the debate. Romney’s campaign also conceded he misstated the truth on green jobs.

by on Oct. 7, 2012 at 12:16 PM
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Replies (1-9):
Sisteract
by Socialist Hippie on Oct. 7, 2012 at 12:19 PM

Of course.

And now Congress will decide which loopholes will be closed. Congress is the liar. Congress will be raising taxes (or the debt), not Teflon Mitt.

Wordsmithing and fuzzy math abound.

The politicians think we're all stupid-

Meadowchik
by Gold Member on Oct. 7, 2012 at 12:20 PM
1 mom liked this

Romney has repeatedly said everyone will get rate reductions, but that higher incomes will not see net change because of the closed loopholes, deductions, ect.

blondekosmic15
by Blonde on Oct. 7, 2012 at 12:20 PM

Think Progress, I'll pass Kissy!

_Kissy_
by on Oct. 7, 2012 at 12:20 PM

And since were stuck with the tea party hacks of 2010, the first 2 years of a Romney presidency will be a catastrophe.

jcrew6
by Jenney on Oct. 7, 2012 at 12:22 PM
1 mom liked this
Wait, now Gingrich is a reliable and trustworthy? Hmm.
blondekosmic15
by Blonde on Oct. 7, 2012 at 12:22 PM

 

Quoting _Kissy_:

And since were stuck with the tea party hacks of 2010, the first 2 years of a Romney presidency will be a catastrophe.

The last 4 yrs have been a monumental catastrophe. The next 4 if Obama is re-elected will be a fiscal disaster!

Meadowchik
by Gold Member on Oct. 7, 2012 at 12:23 PM

Given the fact that Romney did close loopholes in Massachusetts, he is crediuble now that he will, with Congress, do so again.  The Obama admin puts forth proposals that make optimistic projections about revenue from increased taxes.  It is just as fair to give Romney similar leeway to be optimistic about higher revenue due to better jobs plans and policy.

Quoting Sisteract:

Of course.

And now Congress will decide which loopholes will be closed. Congress is the liar. Congress will be raising taxes (or the debt), not Teflon Mitt.

Wordsmithing and fuzzy math abound.

The politicians think we're all stupid-

 

The most pressing social issue today is the economy

Visit Mitt Romney for President, CafeMom Group

blondekosmic15
by Blonde on Oct. 7, 2012 at 12:30 PM

 

Quoting Meadowchik:

Given the fact that Romney did close loopholes in Massachusetts, he is crediuble now that he will, with Congress, do so again.  The Obama admin puts forth proposals that make optimistic projections about revenue from increased taxes.  It is just as fair to give Romney similar leeway to be optimistic about higher revenue due to better jobs plans and policy.

Quoting Sisteract:

Of course.

And now Congress will decide which loopholes will be closed. Congress is the liar. Congress will be raising taxes (or the debt), not Teflon Mitt.

Wordsmithing and fuzzy math abound.

The politicians think we're all stupid-

 

 

blondekosmic15
by Blonde on Oct. 7, 2012 at 12:33 PM

No, Romney will not raise taxes on the middle class

Under current policy signed into law by President Obama, the average American family will see its tax bill rise by almost $3,500 starting Jan. 1. But according to Obama, it's Mitt Romney who wants to raise taxes on the middle class.

"To pay for huge tax breaks for millionaires like him, Romney would have to raise taxes on the middle class -- $2,000 for a family with children, says a nonpartisan report," a recent Obama television ad claims. Don't believe it, because it isn't true.

The "nonpartisan" report Obama refers to came out in August from the left-wing Tax Policy Center, or TPC, purporting to show that Romney would have to eliminate $86 billion in middle-class tax breaks to pay for his 20 percent across-the-board rate reduction.

Its authors -- one of whom is a recent Obama employee -- have subsequently admitted that in the absence of details about Romney's tax plan, they simply made them up. They also admitted their numbers came out wrong because they guessed which tax breaks Romney would eliminate and which ones were "off the table." But what if Romney had other ideas and eliminated, say, exclusions for state and local bonds and life insurance products? Presto: The tax gap would instantly fall from $86 billion to $41 billion.

The TPC study also assumed Obamacare would not be repealed. But if Romney wins the election, repeals Obamacare's tax hikes and pays for it with Obamacare spending reductions, that would free up an additional $29 billion.

That brings the gap down to just $12 billion, which could easily be made up by limiting itemized deductions for high-earners or phasing out their exemptions. Romney has often said he would be open to this. And he might not even have to do it -- so far, this analysis assumes economic growth does nothing to close the gap, and that other revenue-raisers, such as oil and gas leases, are not expanded in a Romney administration.

Only one candidate in this presidential race has a plan guaranteed to raise taxes, and that's Obama. His own legislative affairs director, Rob Nabors, told Democratic senators during the debt limit debate last year, "You could raise all the taxes you want on millionaires ... and it would never raise enough."

In other words, the $3,500 tax hike Obama will inflict on Americans this January is just a start.

http://washingtonexaminer.com/no-romney-will-not-raise-taxes-on-the-middle-class/article/2509736

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