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Deficit city! and the Ultimate, Unabashed, Trickle Down.
Ron Paul is the only one offering a painful but mathematically possible Spending cut to go with his tax cuts.
It's a pie-in-the-sky contest with Perry one-upping Cain and Gingrich one-upping Perry.
"upping" the deficit that is, with absurd rates.
More than Halving Income and Corporate tax and Eliminating Cap Gains/Divs/Estate. (Free Money!)
No wonder he's up in the polls. 'We' Americans love Morons who promise something for nothing, while we never vote for anyone who will tells us the painful truth.
Newt Gingrich Tax Plan Gets Close Look - WSJ.com
By JOHN D. MCKINNON
Dec 13, 2011
Ron Paul is the only one offering a painful but mathematically possible Spending cut to go with his tax cuts.
It's a pie-in-the-sky contest with Perry one-upping Cain and Gingrich one-upping Perry.
"upping" the deficit that is, with absurd rates.
More than Halving Income and Corporate tax and Eliminating Cap Gains/Divs/Estate. (Free Money!)
No wonder he's up in the polls. 'We' Americans love Morons who promise something for nothing, while we never vote for anyone who will tells us the painful truth.
Newt Gingrich Tax Plan Gets Close Look - WSJ.com
By JOHN D. MCKINNON
Dec 13, 2011
"...The study by the nonpartisan Tax Policy Center—a joint venture of the liberal Brookings Institution and the Urban Institute—offers insight at a time when Mr. Gingrich is moving to the fore among GOP candidates. It shows that the former House speaker's plan promises the largest tax breaks of all the GOP candidates' proposals, according to a Center analyst.
But the study also suggests Mr. Gingrich's blueprint would take the biggest bite out of the government's finances, at a time when deficits have become a concern to voters, and particularly conservatives. Compared with current tax levels, it would cut the government's revenue by about 35%, or $850 billion, in 2015 alone, the study said.
The Gingrich plan also gives the most lucrative tax breaks to the very wealthy, according to the study.
That could offer President Barack Obama a target for political attacks.
People making $1 million or more annually would receive an average tax break of about $614,000 in 2015 under the Gingrich plan, compared with current tax rates.
Their average tax rates would fall to about 11.9% from 31.6%.
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The Gingrich plan offers a flat-tax rate of 15% and Mr. Perry's 20%.
On the campaign trail, Mr. Gingrich typically focuses on elements of his plan that he says would boost U.S. investment: its elimination of capital-gains taxes for those who choose the new system; its elimination of taxes on the assets of the deceased; and its reduction of the corporate tax rate to 12.5% from the current 35% (one of the world's highest).
At Saturday's debate, Mr. Gingrich and Mitt Romney traded jabs over the impacts of their plans. Mr. Gingrich criticized rival Mitt Romney for focusing his investment tax cuts on earners below $200,000, and suggested that greater tax cuts for the rich matter more. "If you really want to create jobs, you want to encourage the people who make more than $200,000…to invest the capital in the U.S.," Mr. Gingrich said. "I'll stick with zero capital gains. We'll create vastly more jobs than your proposal."
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