Feb 27th, 2012
We looked at the numbers yesterday HERE and HERE. It's not just a more radical approach to revenue than even the W tax cuts; One of the component's of his plan is a full scale gutting of the social "safety net" he said he would preserve just weeks ago.
Frum savages Romney's departure from the comparatively rational proposal he released only last September and sums up the weekend's developments as follows:
"Compassionate conservatism has been dead for a long time. Romney's Detroit speech cremated the remains. As a man, Romney remains far and away the most capable of the presidential candidates seeking the Republican nomination. But he has now finally eliminated the policy differences separating him from the radical congressional wing. If Romney should win the Republican nomination, moderate and independent voters nationwide will be forced to decide: If they vote for Romney, who is it they're truly voting for?"
Showing posts with label romney tax plan. Show all posts
Showing posts with label romney tax plan. Show all posts
Monday, February 27, 2012
Sunday, February 26, 2012
About That Romney "Tax Plan", cont...
Feb 26th, 2012
Some instructive charts detailing the nonsense.
click images for clearer view
Roughly half of all cuts go to the top 5% with the largest reduction going to the top 0.01%.
Totally unrealistic and draconian measures to mitigate the deficit impact are central to the plan.
Some instructive charts detailing the nonsense.
click images for clearer view
Roughly half of all cuts go to the top 5% with the largest reduction going to the top 0.01%.
 |
| Chart via the Tax Policy Center of the Brookings Institution |
Totally unrealistic and draconian measures to mitigate the deficit impact are central to the plan.
 |
| CBO analysis republished by White House Policy Director, James Kvall |
About That Romney "Tax Plan"
Feb 26th, 2012
James Kwak calls it a "mathematical disaster:"
"There are several things about this plan that are either loony or deeply misleading. One is the claim that it would "address the debt crisis" because it will be paid for by $500 billion in spending cuts by 2016.
But the only proposals mentioned would (a) repeal the Affordable Care Act (increasing deficits, since the ACA has been scored as deficit-reducing); (b) convert Medicaid to a block grant (no deficit impact); (c) increase government efficiency (yawn); and (d) cut Social Security and Medicare benefits for "younger generations" (no impact until well after 2016). In other words, it's a complete fantasy."
James Kwak calls it a "mathematical disaster:"
But the only proposals mentioned would (a) repeal the Affordable Care Act (increasing deficits, since the ACA has been scored as deficit-reducing); (b) convert Medicaid to a block grant (no deficit impact); (c) increase government efficiency (yawn); and (d) cut Social Security and Medicare benefits for "younger generations" (no impact until well after 2016). In other words, it's a complete fantasy."
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