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The Obama campaign questioned on Tuesday whether there were years in which Mitt Romney paid any taxes at all.
As part of its ongoing effort to press Romney into releasing additional tax records beyond his 2010 returns, the president's re-election team released a new TV ad this morning raising that very question.
“Romney admits that over the last two years he’s paid less than 15 percent in taxes on $43 million in income," the ad says. "Makes you wonder if some years he paid any taxes at all."
A new attack ad takes aim at Mitt Romney over tax issues.
When asked today during an in-flight gaggle on Air Force One whether it was fair to make such a suggestion, traveling campaign press secretary Jen Psaki said the ad raises the question that “we won't know and it's not possible for anyone to know until he releases further years of tax returns and everybody is able to examine what is included in them.”
During the gaggle, which took place as the president traveled to Texas for a second straight day of campaign events, Psaki was also asked about the president’s ability to govern when he’s spending most of this week on the road fundraising (with one day, Wednesday, at the White House).
“He can walk and chew gum at the same time,” Psaki responded. “While he is campaigning he is reading briefing books, he is doing calls, he is having meetings with his advisers.”
White House deputy press secretary Josh Earnest, also on the flight, also cleared up confusion about a moment at the United States vs. Brazil basketball game in downtown Washington last night, when the president and Mrs. Obama found the Verizon Center’s “Kiss Cam” trained on them.
They did not kiss the first time they appeared on the Jumbotron, but during the second half of the game, the Kiss Cam found them once again and they obliged.
White House deputy press secretary Josh Earnest said today that the First Couple did not realize that they were supposed to smooch until halftime, when their daughters asked why they didn’t kiss.
“I can tell you based on a very good source, reports that the president was rebuffed are false,” Earnest said, adding that the two “did not recognize that their images were on the screen in conjunction with the kiss cam.”
“So during Act Two of the kiss cam promotion the president took advantage to steal a kiss from his wife,” Earnest continued.
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Why wouldn't they?
If Willard isn't hiding something, why doesn't he just release his returns & get it over with?
He's been running for President for almost 20 years - WHY didn't he get his house in order during that time?
Willard is an empty suit elitist who feels tradition doesn't apply to him!
Romney likes to preservs and increase his own wealth with practices that are immoral or unethical, while claiming they are technically legal. And this would continue on steroids, if he became President.
Romney is aided and abetted by the one-rule-for-us-and-one-for-y'all GOP multi-milionaires in Congress:
Lindsey Graham (R-S.C.) said “it’s really American to avoid paying taxes, legally.”
Sheesh ...
With the WORST ECONOMY SINCE THE 30s, Obama is trying to take America on a fishing trip to cover-up and deflect from his epic ineptitude.
Romney has filed his tax returns, let Timmy Geithner and the IRS decide if he broke any law .... (Did Geithner ever pay his taxes ... how about the rest of Obama's staff?)
And if Romney did like Obama and Buffett and every other lib and took advantage of the tax laws ... so what? Who doesn't?
If you don't like the tax laws and loopholes .... change the tax laws like the Repubs suggest.
Why does Obama resist changing the tax code, then bitch and demagogue those that abide by it?
So now Obama suggests Romney is a tax dodger after his campaign suggesting Romney is a felon?
Ever occur to anybody that Obama admitted doing blow .... that cocaine is actually a FELONY.
And who is the admitted felon?
Obama is such a punk.
To No Limits and Sir Name-Caller Inc.,
THERE ARE LIMITS to what is going to get a free pass:
In a presidential election that is really about the RICH versus the POOR.
Speaking of "hiding", Nasty DumbFux, the Barry campaign sure is hiding from its dismal record of failures for the last 3.5 years. Let's hear again from Barry about how "The private sector is doing just fine." And he should tell us about "27 months of private sector job growth that is not even enough to come close to keeping up with population growth in the labor force" and how his "dismal 8.2% unemployment rate would be much higher if there weren't so many discouraged workers who have stopped looking for a job and are no longer counted as unemployed".
Those are REAL issues that adversely affect the lives millions of Americans every day.
"But, but,...... LOOK at that shiny object over there, instead of my record" is all we're going to get from Barry and his Obamabots.
If it is legal, What is the problem? Everyone, including you attempt to collect the highest possible yield on your return EVERY YEAR.
Nolimit, Bob - What's the matter? Are you afraid of what you'll find after vetting your candidate. What's he hiding boys?
Obama/Biden 2012
Willard can run, but he can't hide.
So how many jobs will be created and saved by the release of the Romney tax returns?
Show us your papers Romney!
Joe in Albany
80,000 some new jobs were created in June of 2012.
U.S. employers shed 2.6 million jobs in 2008 - the worst year since 1945
So "Barry" is doing great compared to his Republican predecessor.
Hmmm...+80,0000/month or -216,6667/ month. Which number do you prefer, Joe?
"U.S. employers shed 2.6 million jobs in 2008 - the worst year since 1945"
At the time these jobs were "shed", almost every financial pundit that could get a story printed or show up on television was adamentt that close to half of those jobs would never come back to our economy.
Oh, I keep forgetting that anything that occurred prior to Mr. Obama's swearing in, is off limits for discussion here. My bad...
Ah, attacks by innuendo. How clever. Good thing the Main Stream Media will call Obama on such tactics, you know, making accusations without any proof. Any day now, that MSM will be there to call Obama out. Any moment to be sure. Good thing we have the MSM to point these things out . . . . Yup . . . .
In other ads we can expect Obama to take credit for his $6 trillion added to the national debt, record breaking trillion dollar plus yearly deficits, high unemployment, record breaking number of people on food stamps, and anemic GDP growth. That, and he can highlight Obama's Secretary of the Treasury, Tim Geithner, explaining to us how paying taxes is optional, at least for him.
How about 300,000 created per month. If Obama is incapable of achieving such a number, it's time for someone else to give it a try.
Also, it's interesting the Libs are selectively comparing and contrasting Obama's record with that of Bush II who according to them was the worst president of all time. You'd think they'd raise the bar a little higher, but in reality, they can't, because Obama has been such an awful President.
Sure it's ok to cut your tax in every legal way. that's why romney was willing to show his last 2 years' tax return. So why not show the american citizens any years prior to that? Why let people speculate? If Obama can show his birth certificate time and time again by demand of the "conservatives", why can't Romney show his tax return prior to 2010? While it's ok for the "conservatives" to keep demanding Obama's to show them "different" birth certificates, why isn't it ok for the american citizens to demand Romney to show his "honest" tax returns?
Amazing how the right wing nuts keep having such double standards. They never cease to show their true color! It's unsettling enough to see such flip flopper with absolutely no principle like Mitt Romey to try to buy american votes so he can rule this country, it's even more unsettling to see his many totally shameless bigot supporters who has no clue that they're ruining their own future and their chilren's future.
anInd...
So you are saying that Mr. Obama has been and will continue to "save" my future and that of my children ???
Spare me the hallucination.
Tony- it's so sad that you will never awaken to the truth. All you want to do is to argue with the other side. But at least you right wingers are true to your nature - avoid the real issue and just divert and distract. You simply don't care what you're really doing.
No where did I mention in my post that Obama will be able to save your future and your children's future. All he can do is to try to create policies to build an environment for the good of the country. IF he should be lucky enough to dodge all the wild attacks from you right wingers. Your future is really held in your own hands. It's your responsbility for yourself and your children to be totally honest with yourself which candidate is really good for the country you live in. If you can't even be honest with yourself on that, you sure don't deserve the future!
I'm sure Mr. Romney could find enough loopholes and "perfectly legal" ways to offset his unearned income (carried interest). How much do you want to bet the infamous horse was claimed as a "business expense"? Not having enough income to owe any taxes is a legitimate excuse for not paying any taxes, but making millions of dollars and not paying any taxes is harder to explain. (Especially if you or your supporters whine a lot about all the people in this country who don't pay any taxes.)
Bob says "If you don't like the tax laws and loopholes .... change the tax laws like the Repubs suggest." The Repubs may suggest that, but what odds would you put on any such changes making it through the congress? Not very likely, I think.
Mitt Romney, the Romney campaign and the GOP have made have made Bain Capitol the main reason we should vote for Mitt Romney, except for the time when he was the CEO, President, sold shareholder and director, yet had nothing to do with the company because he had retroactively retired from the company three years before he received his last paycheck from the company and filed sworn statements with the SEC saying he was in charge of the company. You see, when you tell a lie, you have to keep telling more lies to keep up with your first lie.
If Mitt Romney had said, "I was President of Bain Capitol until 2002, when I retired. During the time I was there, we had many many many many successes and a few failures. Part of running an investment company required us to move production to locations where the laws and regulations passed by the Democratic Congress wouldn't prevent us from making money. As your President, I will work with a Republican Congress to eliminate many of the laws, regulations and high tax levels which drive companies overseas." End of story.
Instead, we have Romney's continued whining, waffleing, flip flopping and outright lies. When ever there is an opportunity to prevaricate or to tell the truth, Romney chooses to lie. He has no core set of values and THAT is why he will not be elected.
As the saying goes, it's only libel if it isn't true.
As the saying goes, it's only libel if it isn't true. Romney isn't a stand-up guy, he just isn't. He's just not accustomed to folks saying so.
Tax Returns
MITT ROMNEY: I will not release any more tax returns. Did he forget it was Friday the 13th?
MATT DOWD: There is obviously something because if there was nothing there he would say have it … But I think the bigger thing is, its arrogance. Many of these politicians think I can do this I can get away with this.
GEORGE WILL: Mitt Romney has said he has released all that’s necessary for people to understand “something” about my finances. Now “something” is a pregnant word… The costs of not releasing the returns are clear therefore he must have calculated there are higher costs to releasing them.
BILL KRISTOL: He should release the tax returns tomorrow. This is crazy… you’ve got to release 6, 8, 10 years of back tax returns. Take the hit for a day or two. Then give a serious speech on Thursday…
After that strong statement on the five news networks Mitt Romney has boxed himself into a corner. If he releases more tax returns there will be more charges of flip flopping and how he caves to pressure. If he doesn’t he is asking for this to remain an issue for the remainder of the campaign.
Only for the Democrats. So far, this and Bain is all you have to hang on to and you want sooooo bad for him to release more so that you can dissect them and keep the fire burning. If not, this too will fade soon enough. Why is Obama bringing out what is probably going to be his big guns already? I have a feeling the Romney campaign is waiting and biding their time to do some real exposing. After all, he is a businessman and knows you don't expose what your R & D department is doing to your competition.
Interesting how Congressional Republicans are following Romney's leadership.
Yesterday, Republicans blocked a bill that would allow Americans to know who is trying to buy elections.
As usual, Republicans are afraid to allow Americans to see their records. Republicans don't want Americans to know that Republicans support eliminating taxes on billionaires earning money in China and then buying elections for Republicans.
Debbie,
Even Republican that voted for it in 2010 (McConnell) joined the filibuster yesterday even though it was scaled down to meet Republican demands like limiting it to only donations over $10,000.
Only for the Democrats. So far, this and Bain is all you have to hang on to and you want sooooo bad for him to release more so that you can dissect them and keep the fire burning.
Talk to - Bain is all that Nitmitt is running on, so its fair game. He can't run on his record as Governor (mediocre at best) or he'll tip his hand to the Baggers that he's a moderate.
Obama/Biden 2012
Substitute "President" for Governor and you have the Obama "strategy".
When the flap the President is making over Bain ends, he'll find something else to preen and prattle about that has nothing to do with the election. Maybe he'll starting flapping his mouth about Massachusetts' low job growth rate while Romney was governor there...but of course he will not add that the unemployment rate at the time in Masachusetts was comfortably under 5%.
Obfuscator in chief.
Until he actually does release his tax returns going back to 1999 (his "last" year at Bain) ordinary people will wonder, why not ??? Is he lying, did he cheat, did he pay any taxes, did he even file ???? The only way to know is for him release the returns.
Maybe its just that he is a rich, arrogant, jerk and feels that we don't need to know exactly what kind of rich, arrogant, jerk he really is.
I've shredded my tax returns from 10 years ago, but I don't make millions of dollars each year, have multiple off shore bank accounts, several "blind" trusts, a horse to claim as a dependent and I'm not running for President of the United States. If I were running for the most powerful position in the whole world, I would certainly expect that I would have to produce my tax returns at some point and would not have shredded them.
Pay zero income taxes?
Who do they think Romney is, Obama's best buddy Jeff Immelt and GE?
I think the Gov. dost protest too much. Listen, there are no "two ways" about defending him, just release the returns (as all candidates do - BTW, if he can bring in Kerry's wife {which was so lame for a career businessman and politician running for the highest office in the land} then Ann should have to show hers too!) Let's see what you got. You guys may not like Obama, but he is an adept politician that, no matter how you slice it . . . his Team is kicking Team Romney's ass. And, if Romney were doing this to him, like 2008's Community Organizer or Jeremiah Wright stuff, you guys would be cheering. So, as the DCCC Cairwoman and Chicago's Mayor have said, "Quit whining and put on your big girl / big boy underware!" Taking a line from Ms. Feisty - "POPCORN!"
That's "big boy" underwear....Michelle Obama has the "big girl" variety.
Obama said GE CEO Jeff Immelt is a great American and that GE is a company that businesses ought to look up to.
General Electric, the nation’s largest corporation, had a very good year in 2010.
Its American tax bill? None. In fact, G.E. claimed a tax benefit of $3.2 billion....
GE also outsourced thousands of jobs.
Yet Obama loves GE.... Why is that?
Over half of G.E.s workforce is outside of the U.S. G.E. has 277 manufacturing plants in 42 countries ! Then, of course, the Hypocrite-in-Chief will attack Bain for outsourcing ...... when Romney was busy running the Olympics at no salary !
Funny thing about GE, as a MULTI-national company, it HAS created jobs, throughout the world. It isn't just shutting down plants in the US and opening new ones in China, Indonesia, India or anywhere else.
GE is creating jobs right here in the US, creating over 14,000 new jobs since 2009.
Learn your facts before you do your talking points.
Psaki was also asked about the president’s ability to govern when he’s spending most of this week on the road fundraising (with one day, Wednesday, at the White House).
“He can walk and chew gum at the same time,” Psaki responded. “While he is campaigning he is reading briefing books, he is doing calls, he is having meetings with his advisers.”
And the liberal media gaggle all nodded their heads in agreement ...gee, what a brilliant guy...
Actually, yeah, you're right - he is brilliant. And that pisses you off too, don't it?
They the majority of the right wing don't love or even like Willard. They just see him as a possible tool to get rid of that darn black guy that is smarter than them all.
Its American tax bill? None. In fact, G.E. claimed a tax benefit of $3.2 billion....
GE also outsourced thousands of jobs.
Vag-Bob
GE's tax status was in place before O took office. You act as if O personally gave them a break that no one else gets. Get a grip, Bob.
Psaki was also asked about the president's ability to govern when he's spending most of this week on the road fundraising (with one day, Wednesday, at the White House).
"He can walk and chew gum at the same time," Psaki responded. "While he is campaigning he is reading briefing books, he is doing calls, he is having meetings with his advisers."
And your point, oh wise one?
Obama/Biden 2012
Virginia Bob.......You need to quit making sense. These libs on here have more excuses for the worst President in history than Kellogg's got corn flakes.
Didn't take Job none long to bring out the race card. Proud of you. Keep on that message like a good sheep.
Business leaders always hide their business dealings and think Americans are unworthy of seeing their records.
However, Americans despise government leaders who hide the data.
Leaders lead by example and show their data. If Romney wants to stay in business and hide his data, that is his choice. However, if he wants to become President, it's time for him to show us his taxes dating back to 1999.
Every Republican needs to remember, that Romney's father demanded 12 years of tax records to run for President. If you want a hidden government that is not accountable to taxpayers, vote for Romney. Romney has a long history of hiding his records and lying to Americans.
The liar in chief is no slouch at telling a falsehood either. Matter of fact, he was so bold that he wrote a book about it and sold it as fact when it was a huge fabrication.
All you morons whining about Romney's taxes should produce your own. Is seeing his returns going to improve the crap economy we have? No. Will it get Fisty Dumbass off her couch? I doubt it. Will it help Bev learn to spell? Most likely not. Get a job, losers!! Your envy that Mitt is a millionaire and you're an idiot only shows how pathetic you are.
It's so funny that anyone that disagrees with the right wing doesn't have a job. That means that those 68,000,000 voters that voted for Obama don't have jobs.
I wonder how that explains that in my city, Obama polls at 64%, favorable, and the unemployment rate is 6.1 percent.
Romney is imploding...his campaign is incompetent, and that is putting it mildly.
And there is SO much more to come out....like how he wants to remove the cap on visas a company can have so they can import more foreign workers to take American jobs. It is on his website.
Any comments about race crack me up. Some people say he's not black, he's mixed, he's black. In my opinion what this President is or looks like, looks like none of the other 41 guys in the past 236 year history of America. Duhhhh folks he sure ain't looking like George Washington. The chorus that often says 'this guy is the worse President in history or what other hyperbole statement people make is funny also. Get ready to get more pissed off when I say this: President Obama is the greatest American President in history only because never have so many people ever been so concerned about what the office of the President is doing until a black man got to live in the White House. That's the truth, I'm sorry that's the truth in my opinion. Of course there's some truth to it, because according to some of this hyperbole I read about President Obama is responsible for every little evil deed done in America for the last 200 plus years. Get ready for it and all the serious haters can move out of the country when it happens.......
Obama/Biden 2012
No pal never have so many worried about a president until a marxist got into the office
Romney is very calculated in the steps he takes. He knows there is nothing in his taxes and that he has nothing to worry about when it comes to Bain. Eventually he will release everything and make the liberal left look like a bunch of idiots, not that they don't already.
Hey Small Business Owners....I have it from top source that you have not made your business successful...government causes your success. I also have it from a reasonable government source that now you can bill government first for your efforts rather than own a small business and then have to wait till you have paid everything else so you can take what is left over...it is called unemployment ... oops ... if you are Sub S or sole proprietor you may not qualify.....but you can qualify for food stamps... even if you own a car, a home...saw an ad....
what a man, our President.
The context of the Roanoke, VA speech you refer to – notice I clarified the meaning for those of you that don’t understand what the “that” is referring to:
If you were successful, somebody along the line gave you some help. There was a great teacher somewhere in your life. Somebody helped to create this unbelievable American system that we have that allowed you to thrive. Somebody invested in roads and bridges. If you’ve got a business — you didn’t build that (unbelievable American system). Somebody else made that happen. The Internet didn’t get invented on its own. Government research created the Internet so that all the companies could make money off the Internet. The point is, is that when we succeed, we succeed because of our individual initiative, but also because we do things together.
http://www.whitehouse.gov/the-press-office/2012/07/13/remarks-president-campaign-event-roanoke-virginia
When I hear this one I keep thinking of the ad Rachel Maddow was in that showed the Hoover Dam and talks about how no individual or individual company could have built that - it took a country to build it. Some things are appropriate for private companies to do, and other things take community effort. In any case, Obama is correct, no one succeeds on their own without any input or assistance from anyone else. Didn't someone say once, "No man is an island"?
I swear this is like asking a child if they spilled the milk and they answer with "Johnny ate the cookie dough".
He can release them after he is President for two years.
Here's a great idea that will resolve the issue with Mitt releasing more of his tax returns. Both him and Obama can plan a joint press conference and Mitt can release more years of his tax returns while at the same time Obama can release all of his college transcripts and financial aid packages. Yeah that would be a quick end to them seeking any more of Mitts tax returns wouldn't it because Obama would never want that seen would he(wonder why) Or maybe we can ask Obama to release all the fast and furious documents he recently used executive privelege to hide so we wouldn't find out his involvement in a program that caused many deaths as well as the death of border agent Brian Terry. HMMM how about that deal that's a wonderful compromise. One other point is what exactly don't you libs get about economics. Obama says no businesses became successful on their own without government. And all wealthy should pay more in taxes. First off Gov't wouldn't have the money to build infrastructure without taxing those same businesses to pay for the infrastructure. So answer this libs once you have confiscated all the wealth from the rich through taxing them to death where will the gov't get money to continue all these social programs. Gov't doesn't create any thing and doesn't make money to function without taxes. So if everyone has there wealth taken then who will be left to pay taxes upon which all infrastructure is built and all social programs are paid. "the problem with socialism is eventually you run out of other peoples money" THEN WHAT
If you had actually read the quote, Obama did not say no one had succeeded without the help of government. He said no one had succeeded alone. If your parents had not fed you and clothed you and made sure you were educated, you would not be where you are now. If your teachers had not taught you, your bank had not loaned you money, your city and state had not provided you space and amenities, your customers had not provided demand, you would not be where you are. You make yourself look small by twisting what Obama actually said to try to make him look bad.
blab-blab-blab
Maybe I'm coming late to this, but WTF do college transcripts from 30+ years ago have to do with an INCUMBENT President being qualified for being reelected ?
If its just a talking point you picked up from Rush Limbaugh, fine, quote your source of the question and move on.
If its an original thought, congratulations, as a person having an original thought you may no longer be in the Republican party. Please turn in your cape and hood as you leave the door.
I want to see his transcripts.
Let's use their logic.
Obama proclaimed,'We are the ones you have been waiting for." He and his feet washers have constantly told us what a brilliant man he is, how we cannot possibly understand his vision and wiles to get us to utopia.
So, let's see the transcripts, or else we will never know if he is as smart as he says he is, because the last demagogue you told us was brilliant turned out to have D's in his transcript.
To me, he's simple and childish.
Why don't you define yourself by showing us your tax returns? That would define you as a stand-up kind of guy. If he were still alive, it would get your father's approval as well. Until then, you are not trust worthy, that's how I define you!
FactCheck.org's website has a really good article on there, along with a reply from the Obama campaign saying that the site has gotten their information wrong regarding the Romney "Bain" issue.
I'm surprised this information is ALWAYS missed by all news agencies.
dmoney,
You have hit the nail on the head. Obama's disclosures...hmmm...hiding his past vs. Romney telling us about his taxes. The problem with socialism is that you eventually run out of other people's money. I hope these two thoughts invoke some soul searching by Obama's supporters. Let's get to the point of talking about the real issues in the real world and what to do to survive the mess we are in.
Is Romneys' asking for a tax filing extension a crime? Then why is so much being made of what thousands, if not hundreds of thousands, of people do every year?
It is the problem of the IRS and not the media to decide if Romney owes any taxes or not. Just because he is more transparent than the Shadow (Obama) does not give the media any special powers.
I have to say I admire the nerve of Obama and his campaign staff. It takes a lot of huevos to dare to use the words "illegal" and "transparency" in any public discussion or accusation. The opposition has plenty of room to develop damning discussions around those terms.
This tax return issue is total distraction from the President's record but it's a very good strategy. Showing Mr. Romney as a quick to make a buck and the expense of others is againist all true American principles so if Mr. Romney has something in those tax reutrns that he doesn't want us to see then the President should make hey of it. But I'll say this too if it comes down to September when the debates start then everything about Bain dissipates if the economy is clocking in around 150,000-200,000 jobs. At least that's my opinion.
Maybe its just that the returns will show that Romney was one of the 50% of Americans who pay no taxes. Made MILLIONS of dollars, but paid no taxes AND actually wants to institutionalize his making millions and paying no taxes by eliminating the capital gains tax.
Maybe there is nothing in the returns and Romney is just arrogant.
Either way, the longer he fails to produce the returns, the greater the news junkies questions about what is in them and the more out of touch Romney gets. Remember, voters like to vote for someone who is just a little bit smarter, just a little bit richer, and maybe just a little bit better than them for President. They want someone who understands their issues and has overcome them. Being arrogant and out of touch will lose the election for Romney.
Why did Barry give each of his daughters $40,000 to lower his tax burden he surely didn't need the money not with all that free housing and food and that big private jet he flies around in.
Obama's tax rate was lower than his secretary's.
Obama also invests hundreds of thousands of dollars in a mutual fund that invests heavily in companies that outsource jobs.
I would call him a hypocrite but that doesn't describe what he is, it is far to lenient.
Let's follow their "logic".
Obama smoked pot and did other drugs. The way he runs the country and the gaffes he frequently makes leads me to believe he's high most of the time. We won't know and it's not possible for anyone to know until he takes a drug test and releases the results. Most of the decisions he makes leaves thinking people to wonder, "Is this guy stoned or what?"
Or, it has been reported that Obama has had sexual encounters with men. Some, supposedly, while he was married. Would it be appropriate for Romney to run an ad questioning his devotion to family? According to the Obama team...fire away. Because it just might be true. How are we supposed to know?
Obama is a pox on all Americans. His campaign and the sleazeballs who work for him prove it everyday. Liars all.
Romney, along with the entire Republican delegation in Congress, supports the "Ryan Plan." The heart of the "Ryan Plan" is a gigantic tax cut for straight income in the top tax bracket and for corporate income, together with a 100% tax cut for capital gains. Keep in mind that almost all of candidate Romney's $200-million fortune is from capital gains; if elected he proposes to reduce his personal principal tax liability to zero percent.
Now, the public justification for enacting such a radical tax cut for millionaires is that taxes on the ultra-rich under current law are far too high and thus discourage investment and job growth. However this loss in Federal revenue is to be balanced by slashing Medicare, Medicaid and Social Security and raising the retirement age for ordinary workers to 70. OK, then, before those of us who actually work for a living allow the investment class to take away the retirement pensions and health care programs we've paid for our entire working lives, let's see how much you are paying now, candidate Romney! Let's see how severely you have suffered under the present tax regime, before we decide whether or not it is necessary to grant you yet another huge tax cut.