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PRINCETON ECONOMIST: ROMNEY TAX PLAN MATHEMATICALLY SOUND
Big Government ^ | 7 Oct 2012 | TONY LEE

Posted on 10/07/2012 5:02:04 PM PDT by Snuph

Bill Clinton, President Barack Obama, and liberal think tanks have claimed Mitt Romney's plan to cut tax rates across the board by 20 percent is bad arithmetic, but a Princeton economics professor, Harvey Rosen, examined Romney's proposals in a paper and concluded Romney's plan would work.

(Excerpt) Read more at breitbart.com ...


TOPICS: Business/Economy; Government; News/Current Events; Politics/Elections
KEYWORDS: economy; romneyplan
Adding, subtracting, dividing, multiplying, simply too much for the DNC base to understand. Easier to just lie to them.
1 posted on 10/07/2012 5:02:19 PM PDT by Snuph
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To: Snuph

LOL!

this is going to be funny wherever it comes up.


2 posted on 10/07/2012 5:04:05 PM PDT by Principled (Vote Romney to stop Obama. Vote for conservative Reps and Senators to stop Romney. [ZET 7/30/12])
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To: Snuph

Take that, axelgrease and fluff-butt!


3 posted on 10/07/2012 5:06:42 PM PDT by WashingtonSource
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To: Snuph
The economy would have to grow by 3 percentage points more over the term of his plan than it would have without his plan.

If we pick it up again [remember the early 80s?] we will crush 3%.

4 posted on 10/07/2012 5:07:04 PM PDT by Principled (Vote Romney to stop Obama. Vote for conservative Reps and Senators to stop Romney. [ZET 7/30/12])
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To: Principled

What we don’t want to happen again is to lose deductions just to get a lower rate. That’s simple wealth redistribution ~ a marxist notion.


5 posted on 10/07/2012 5:08:51 PM PDT by muawiyah
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To: muawiyah

Yeah and later, the deductions won’t come back but the rate will sure increase!

The singular attraction that I have for the flat income tax is that each person’s marginal rate is the same. Lots NOT to like about it but that one is big.


6 posted on 10/07/2012 5:11:52 PM PDT by Principled (Vote Romney to stop Obama. Vote for conservative Reps and Senators to stop Romney. [ZET 7/30/12])
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To: Snuph

One thing we know for certain is that Obama’s plan does not work.


7 posted on 10/07/2012 5:17:37 PM PDT by bigbob
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To: Snuph

Democrats only believe in zero-sum economics.


8 posted on 10/07/2012 5:24:47 PM PDT by oblomov
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To: Snuph

i’m sure the criminal liberal media will be quoting Professor Rosen as much as they do the other economist from Princeton...


9 posted on 10/07/2012 5:25:58 PM PDT by God luvs America (63.5 million pay no income tax and vote for DemoKrats...)
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To: Principled; muawiyah
What we don’t want to happen again is to lose deductions just to get a lower rate. That’s simple wealth redistribution ~ a marxist notion.
Yeah and later, the deductions won’t come back but the rate will sure increase! The singular attraction that I have for the flat income tax is that each person’s marginal rate is the same. Lots NOT to like about it but that one is big.
Having seen the ObamaCare abuse of the IRS, I think we all can see value in moving away from an income tax.

That aside, one deduction I would like to see eliminated is the mortgage interest deduction - and the taxability of interest income. That was the Steve Forbes position, and he clearly was right. Why? Because if everyone is in the same tax bracket, the tax paid on interest income is exactly balanced by the tax savings accruing to the payer of the interest. So it is all a bunch of paper shuffling - with the exception that some people don’t itemize deductions, and they lose out in the deal.

The realtors took down the Forbes presidential campaign over the issue, but Forbes should have rebutted by pointing out that municipalities already get the same break, and the result is that tax free bonds pay lower interest to compensate for the lack of a tax on them. So all Forbes really was proposing was that home buyers be able to “sell tax-free bonds” when they get their mortgage loans. Therefore it was really a benefit to the lower-income borrower, since he wouldn’t have to itemize the payments in order to benefit. Forbes should have instituted a grandfather clause for existing mortgages - and if the borrower wanted to have the new system, he would only need to refinance the mortgage to get it.


10 posted on 10/07/2012 5:37:53 PM PDT by conservatism_IS_compassion (The idea around which “liberalism" coheres is that NOTHING actually matters except PR.)
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To: conservatism_IS_compassion

The best way to avoid double taxation of the same money is to abolish the income tax completely.


11 posted on 10/07/2012 5:48:24 PM PDT by muawiyah
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To: Snuph
Market forces are like gravity, no matter how much the Left tries to explain it away.


12 posted on 10/07/2012 5:52:14 PM PDT by UnwashedPeasant
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To: Snuph
"Liberals, who often do not understand how the economy works let alone how to expand the economic pie, failed to work in their assumptions that the purpose of Romney's tax cuts is to actually grow the economy..."

Romney should bring a pie to the next debate to help explain this concept.

13 posted on 10/07/2012 5:56:02 PM PDT by UnwashedPeasant
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sfl


14 posted on 10/07/2012 6:06:55 PM PDT by phockthis (http://www.supremelaw.org/fedzone11/index.htm ...)
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To: Snuph; All
Adding, subtracting, dividing, multiplying, simply too much for the DNC base to understand. Easier to just lie to them.

The numbers just measure past results and aid in predicting effect (think Laffer Curve).

This is the best concise explanation of the relationship of taxes vs. government revenue I've seen since I was an Econ major in college in the '70s:

"There's No Escaping Hauser's Law"

Link:

http://online.wsj.com/article/SB10001424052748703514904575602943209741952.html

15 posted on 10/07/2012 6:19:33 PM PDT by Cobra64 (Common sense isn't common anymore.)
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To: Cobra64

agreed.


16 posted on 10/07/2012 6:24:24 PM PDT by Snuph ("give me Liberty...")
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To: Snuph

Go to the link. It’s a fantastic article that should be required reading by every democrat.


17 posted on 10/07/2012 6:25:57 PM PDT by Cobra64 (Common sense isn't common anymore.)
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To: Snuph

If its anti-communist it must work.


18 posted on 10/07/2012 6:43:45 PM PDT by Eye of Unk (OPSEC)
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To: muawiyah
The best way to avoid double taxation of the same money is to abolish the income tax completely.

There are other important beneficial outcomes of eliminating the income tax besides avoiding double taxation!

eliminate hidden taxes in higher prices
eliminate hidden taxes in lower wages
eliminate hidden taxes in reduced ROI
eliminate withholding
eliminate the export tax penalty [border adjust]
make the US the world's place to headquarter business.

19 posted on 10/07/2012 7:20:48 PM PDT by Principled (Vote Romney to stop Obama. Vote for conservative Reps and Senators to stop Romney. [ZET 7/30/12])
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To: Snuph

one thing Romney said was that the ‘rich’ will continue to pay the same tax rate

if ‘rich’ is defined as anyone making $250/yr (married) ... then we’re still screwed

I’m basically paying a flat tax. my expenses don’t exceed $12k/yr ... so anything I make is taxed at an absurd level (35% + 2*15% == 50%)... and that’s set to increase (bush cut == 5%, 0bamacare 6.1%, resulting in 61.1%)

why would I choose to operate a company in a country that demands 61% of my profits while other countries only ask 10%??


20 posted on 10/07/2012 7:45:29 PM PDT by sten (fighting tyranny never goes out of style)
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To: sten

C corp? 35% of profit then 15% dividend on what you pay yourself then 15.5% FICA is what I think you are saying.


21 posted on 10/07/2012 8:02:21 PM PDT by Snuph ("give me Liberty...")
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To: WashingtonSource

I hve a Persian cat named Elvis but we call him and his near-twin, Fluffy, “fluffy-butt” because of the cat-poop that sticks to their tails.

A most fitting description of David Ploufe.

“Axelgrease”. Yes Axelrod’s hair. Same brand of grease that Hitler used, “EvilErnieCream”. He even looks like “HERR (HAIR) HITLER). Can’t be a coincidence since he too wants to rule the world.

After Nov. 6th, Herr Axelrod will learn that Chicago is no Berlin, and that instead of the Red Army taking Chicago out of the picture, it will be the Red, White and Blue army of voting patriots who will relegate that city back to its gang-haven, crime-riddled, marxist/democratic crook rule status as a major cesspool of corruption, cronyism and criminals.


22 posted on 10/07/2012 8:18:48 PM PDT by MadMax, the Grinning Reaper
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To: UnwashedPeasant
And when the media and the Obama campaign asks for specifics about the Romney/Ryan plan.... just reply back to them.


We won't know what's in the specifics until we elect Mitt Romney as President of the United States of America

23 posted on 10/07/2012 11:29:39 PM PDT by American Constitutionalist
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To: American Constitutionalist
And when the media and the Obama campaign asks for specifics about the Romney/Ryan plan.... just reply back to them. We won't know what's in the specifics until we elect Mitt Romney as President of the United States of America

Or: "It involves simple arithmetic - you wouldn't understand it".

24 posted on 10/08/2012 3:54:29 AM PDT by trebb ("If a man will not work, he should not eat" From 2 Thes 3)
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To: trebb
YES !! that's another good line......

Our side needs to learn how to SPIN SPIN SPIN SPIN their words around to use it to OUR advantage...
25 posted on 10/08/2012 5:17:46 AM PDT by American Constitutionalist
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