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MILFORD, OH – Citing Mitt Romney's appearance on NBC's Meet the Press earlier in the day, Vice President Joe Biden took aim Sunday at Romney's failure to name specific tax loopholes he would close to lower taxes and balance the budget.
"He said that he's gonna pay for all these tax cuts by closing the loopholes, but when asked by Mr. Gregory what loopholes he'd close, he couldn't name one," Biden told a crowd of 700 supporters at a western Ohio high school.
"All this has a giant price tag and it's not going to come from closing loopholes for millionaires," he added.
On NBC, host David Gregory asked Romney to specify how he would eliminate tax deductions and exceptions in order to compensate for the enormous financial consequences of his deep tax cut proposals.
Romney responded only by noting that "people at the high end" would have fewer opportunities for tax exemptions, but he declined to pinpoint any specific numbers or policies.
“High income taxpayers are going to have fewer deductions and exemptions... Those numbers are going to come down. Otherwise, they'd get a tax break. And I want to make sure people understand, despite what the Democrats said at their convention. I am not reducing taxes on high income taxpayers. I'm bringing down the rate of taxation, but also bringing down deductions and exemptions at the high end so the revenues stay the same, the taxes people pay stay the same. Middle income people are going to get a break. But at the high end, the tax coming in stays the same. But we encourage small business, because small business is able to keep more of what it makes and therefore hire more people, which is my priority.”
The stop in Clermont County, a heavily-Republican area that supported John McCain by a 2-1 margin in 2008, was Biden's final campaign event of a two-day swing through Ohio. He will return to the Buckeye State next Wednesday to campaign in Dayton.
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HAH! theretheygoagain...another screw-up on national t.v. by the plutocrat party (the republican party is dead) and out come the troll cockroaches scurrying for cover as soon as the light of truth is switched on. LOLOL!!!!!
Ryan/Romney campaign slogan is "America's Comeback Team".
Yes, "comeback to the 1860's"!
People we never have and ever will tax the Rich.I love it when the rich talk tax Rate.GE has a 35% tax rate and received Billions in tax rebates.When I was in school 2+2 was always 4. With this new political and business math I have no idea what the answer would be
What's the difference between Mittens tax returns and the Loch Ness Monster?
People actually claim to have seen the Loch Ness Monster!
Elect Me!
I'll give tax cuts to the rich!
What's the difference between a Republican and a terrorist?
You can negotiate with a terrorist!
You know your a Republican when the Rush Limbaugh show ends and you cry!
Everyone cries when they hear Limbaugh speak.
Corporations are people when Texas executes one of them!
Was Mittens born with a silver foot in his mouth?
Nah, Romney wasn't born with something as drab as a silver spoon in mouth. That sucker was platinum all the way.
Sorry, couldn't resist. I have no problem with Romney's wealth beyond that it probably played a key role in his disconnection from real people.
I know, right? Where as Obama making more than twice what is necessary to be considered in the 1% CLEARLY connects him with the common man.
What does Mittens call illegal aliens?
Undocumented Democrats!
A conservative Republican, a moderate Republican, and a liberal Republican walk into a bar.
The bartender says "hello Mitt"!
How can "Flip-Flop Mittens" be allowed by "We the People" to be elected to the Office of President of the United States of America when he refuses to invest his money in the country he wants to govern? Something is not right with this picture!
All kinds of people invest in things in their 401k that are from other countries.
Even democrats like Debbie Wassermen Schultz!
http://www.politifact.com/florida/statements/2012/jul/18/mary-matalin/debbie-wasserman-schultz-had-offshore-accounts-mit/
Darn those pesky facts and democratic double-standards, again!!
Let's get rid of the mortgage interest for the only house 99 percent of us will ever own, cut the earned tax for our children and give to the rich oh thats right that's the Willard plan. Take away from the poor and the depleting middle class. Just take away everything from us so you you can pave your way on our backs to the WH. Willard and pinocchio Ryan will rob every right we have earned in this country. We won't have a say so in our healthcare or voting for whom we want to!!!!
Actual Romney statements:
“I believe that since Roe v. Wade has been the law for 20 years we should sustain and support it.”
“Roe v. Wade has gone too far.”
“I don’t line up with the NRA.”
“I’m a member of the [NRA].”
“I like mandates. The mandates work.”
“I think it’s unconstitutional on the 10th Amendment front.”
“I respect and will protect a woman’s right to choose.”
“I never really called myself pro-choice.”
“I saw my father march with Martin Luther King.”
“I did not see it with my own eyes.”
“I supported the assault weapon ban.”
“I don’t support any gun control legislation.”
“I think the minimum wage ought to keep pace with inflation.”
“There’s no question raising the minimum wage excessively causes a loss of jobs.”
“I will work and fight for stem cell research.”
“In the end, I became persuaded that the stem-cell debate was grounded in a false premise.”
“I would like to have campaign spending limits.”
“The American people should be free to advocate for their candidates and their positions without burdensome limitations.”
Obama created so many loopholes in Obamacare that no one can count them! Romney should just say he will look at the author and cut every Democrat loophole hoping to put Obama Corruption in jail.
Name one!
They don't know which loopholes to close? What? There's more than ONE loophole? Really? They have so many LOOPHOLES, that they don't know which one's to close? Really? Millions, if not billions of dollars going back to the rich, inside federally made loopholes, written by billionaire's?
If Mittens told us which loop holes he was going to close NO ONE would vote for him!
Our Tax System Explained in Beer!
By: David R. Kamerschen, Ph.D. Professor of Economics University of Georgia
Suppose that every day, ten men go out for beer and the bill for all ten comes to $100. If they paid their bill the way we pay our taxes, it would go something like this:
The first four men (the poorest) would pay nothing.
The fifth would pay $1.
The sixth would pay $3.
The seventh would pay $7.
The eighth would pay $12.
The ninth would pay $18.
The tenth man (the richest) would pay $59.
So, that's what they decided to do.
The ten men drank in the bar every day and seemed quite happy with the arrangement, until one day, the owner threw them a curve.
'Since you are all such good customers,' he said, 'I'm going to reduce the cost of your daily beer by $20. 'Drinks for the ten now cost just $80.
The group still wanted to pay their bill the way we pay our taxes so the first four men were unaffected. They would still drink for free. But what about the other six men – the
paying customers? How could they divide the $20 windfall so that everyone would get his 'fair share?' They realized that $20 divided by six is $3.33. But if they subtracted that from everybody's share, then the fifth man and the sixth man would each end up being paid to drink his beer. So, the bar owner suggested that it would be fair to reduce each man's bill by roughly the same amount,
and he proceeded to work out the amounts each should pay.
And so the fifth man, like the first four, now paid nothing
(100% savings).
The sixth now paid $2 instead of $3 (33%savings).
The seventh now pay $5 instead of $7 (28%savings).
The eighth now paid $9 instead of $12 (25% savings).
The ninth now paid $14 instead of $18 ( 22% savings).
The tenth now paid $49 instead of $59 (16% savings).
Each of the six was better off than before. And the first four continued to drink for free. But once outside the restaurant, the men began to compare their savings.
'I only got a dollar out of the $20,' declared the sixth man. He pointed to the tenth man,' but he got $10!
''Yeah, that's right,' exclaimed the fifth man. 'I only saved a dollar, too. It's unfair that he got ten times more than I!! ''That's true!!' shouted the seventh man. 'Why should he get $10 back when I got only two? The wealthy get all the breaks!'
'Wait a minute,' yelled the first four men in unison. 'We didn't get anything at all. The system exploits the poor!!!’
The nine men surrounded the tenth and beat him up. The next night the tenth man didn't show up for drinks, so the nine sat down and had beers without him. But when it came time to pay the bill, they discovered something important. They didn't have enough money between all of them for even half of the bill!!!!!
And that, boys and girls, journalists and college professors, is how our tax system works. The people who pay the highest taxes get the most benefit from a tax reduction. Tax them too much, attack them for being wealthy, and they just may not show up anymore. In fact, they might start drinking overseas where the atmosphere is somewhat friendlier.
David R. Kamerschen, Ph..D. Professor of Economics University of Georgia
For those who understand, no explanation is needed. For those who do not understand, no explanation is possible.
I think the reason that Romney, or Ryan for that matter, can't name what tax loopholes they would close to off set tax breaks is because they don't actually have any. I think that their plan is to find some, but they haven't actually gone looking yet. Which probably means that there won't be any because any that they try to close will be met with opposition by someone in the Republican party.
The specifics of which loopholes are to be closed is up to Congress. Mr. Romney could name any loophole and the Democrats would cry foul.
What remains to be seen, is regardless of who is in the White House, is will the Democrats actually address tax reform and the issues of loopholes?
After all, they could have easily reworked the tax code and generated more revenue when they had the majorities. But they didn't; because many of the Congressional Dems are millionaires; or, new spending was more important...
Thank you Mr. Romney for bringing the issue of tax reform to the forefront.
I just saw where Paul Ryan didn't want to discuss the tax loopholes with the public? Well I hope the public doesn't vote for him. And besides Ryan is bringing up God and religion. Oh really. Did he askhis running mate why he got into office to begin with? Because of atheist Ayn Rand who has no faith or religion. Are these guys nuts or are they just planning on pulling the wool over a lot of voters eyes. Glenn BEck involked God and he got fired. Lets hope if Romney invokes got he does not get hired for sure. YOu can't do what these guys are doing and invoke God. Apparently they don't think he is up there either. Yesthe public wants to know what theys two are doing. Period. And Ann said she would let her husband talk about things. Except he doesn't and when she is there he lets her talk. What are these guys trying to pull?
"Romulian Romney" and his "Cohort in Crime!" The GOP?RNC pathological liar "Richie Rich' Ryan need to understand that this is a Democracy. We the people need to know all information about all policies being presented by all individuals running for any Poltical Policy. The GOP/RNC "Speculator and Chief" has no clue that in a free society all information must be communicated consistently to all. The GOP/RNC "Speculator and Chief" loves to hide things in his "Bubble." In his "Economic Bubble" the "Romulian" likes to hide an Economic Policy that does not exist. In his "Tax Bubble" he likes to hide his past tax returns and all the unpaid taxes hidden in off shore accounts. Yes America! The GOP/RNC "Romulian" is the "Boy In The Bubble." Hey! Hey! Ho! Ho! The Party of NO has got to GO!
A quote from a former Republican really tells it all about Mitt Romney's attitude and the Republican party! " Jeremiah Goulka said: "I always imagined that I was full of heart, but it turned out that I was oblivious. Like so many Republicans, I had assumed that society’s “losers” had somehow earned their desserts. As I came to recognize that poverty is not earned or chosen or deserved, and that our use of force is far less precise than I had believed, I realized with a shock that I had effectively viewed whole swaths of the country and the world as second-class people."
NUFF SAID!
He had his epiphany. As will others.
My real problem is ObamaCare forcing all companies to provide healthcare to everyone or be heavily "fined"....yes, fine the companies, and fine the individuals that do not have insurance - - this still does not get them insurance but gets the government a lot of money in "fines" (not taxes). This is a bunch of BS.
My company is doing fine, but many of the small companies that I deal with everyday are really hurting and may not survive (...unemployment to rise). With so many empty stores now along every US highway, and more becoming empty each week, I do not see many restaurants, retail stores, small companies, etc. surviving in the future with these new healthcare charges and fines. If they do survive, get ready for the prices to skyrocket to pay for these "fines" - wait till you see the costs that will be passed on to you and me for restaurant meals (for waiters and waitresses), consumer goods, ......even getting popcorn at a movie will go up to pay for the counter help's "ObamaCare fines". Look at the impact on seasonal help like Christmas retail and the Summer shore/boardwalk help - - it will either vanish or get so expensive it will cause the inflation rate to take off in this country - - Hey, raise the inflation rate enough and the existing national debt will appear to go down. I think this is their game plan. Where going to need a new money bill - - the new ObamaTrillion Dollar Bill.
Remember, the government cannot give anything to anyone that they have not first taken away from someone else. If Obama is re-elected, get ready for a massive "take away" - - and the total ruin of this country - - like Nero playing the fiddle while Rome burns...
Here are the big 3 he won't mention:
Get rid of the mortgage deduction
Make workers pay taxes on their employer provided health benefits
Lose the state and/or property tax deduction