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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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One comment that I noted in Mr. Romney's interview was, to paraphrase him, he'd like to reduce the capital gains and interest tax rate for all taxpayers and that would help the middle class.
Well, I don't have that much money in savings that generate interest. Most of my investments are in 401K stocks. And, the capital gains on those are taxed at 18% when you draw out.
So, I ran the numbers on my savings. The tax advantage for $40K would be about $50. annually. Ok, yeah, I'd like 50 bucks but what would that mean for a multi-millionaire like Mitt? If he had 10 times the amount, first, he'd get a better interst rate than I'm getting at my credit union. Second, he'd pocket more than $500.
On the capital gains side, I don't actively trade stocks. The appreciation (capital gain) in my house doesn't exist right now. If it did, I won't realize it until I sell it and downsize. Even then, I will take advantage of the one time deduction and that will cover the capital gain on the house.
My 401K is the only place left. After the Tech Bubble and the Great Recession, I'm about even with what I put in over the years. Geeze, that won't help either. Oh, maybe a couple of dollars here or there. But there isn't anything significant here.
Bottom line, if I am an average middle class person, this won't mean much at all to me. If I were a multi-millionaire, oh, yeah, I'm liking it.
The more I read and listen to Mr. Romney, the more I feel he is only there to protect the uberwealthy. And, at some point, everyone else will have to pay for their tax cuts.
With all due respect ask yourself a question what has Obama done for you in the last 4 years.
Stabilized the economy so my assets aren't in free fall anymore; made it possible for me to still buy an American made car; ensured my grandchildren have health care and health insurance regardless of their current health and until they are finished with college.
USAF50, "And with all due respect" we can answer, but what difference does it make if you would say is all a lie?? You conservatives always do.
Cut taxes for 95% of Americans - by $3600 for the typical family.
He cut taxes 18 times for small businesses.
4.5 million private sector jobs were created over the last 29 months.
Half a million manufacturing jobs created in the last 2.5 years.
Headstart was expanded for 960,000 children.
President Obama saved the Auto Industry and saved a million jobs, created thousands more.
He made College more affordable for 9.4 million families in 2011.
Doubled the funding for Pell grants.
President Obama provided affordable, quality health care for millions of Americans via the ACA.
He signed into law Equal pay for Equal work.
Invested in affordable, renewable energy.
Doubled the amount of electricity produced by wind, solar and biofuels.
Thousands employed building wind turbines and long-lasting batteries.
Cut oil imports by 1,000,000 barrels per day - a record low.
(Trajectory: by 2020, we can cut our oil imports in half, and support 600K jobs in natural gas.)
America is less dependent on foreign oil that at any time in the last 2 decades.
Raised fuel standards, cars will go twice as far on a gallon of gas by 2025.
Boosted natural gas production.
Veterans - more equipment, education, caring for health, jobs, families, and benefits.
President Obama ended the Iraq war responsibly and is finishing the war in Afghanistan.
Repealed DADT.
Brought justice to Bin Laden.
Gave DREAMers a chance to continue their Education and start a career.
It makes a huge difference what is Obama's plan to fix the economy. If you think for one second he is getting a pass this time on that one you have another thing coming.
Also, he could not have done much of those things by himself. And that is a FACT.
He will not specify which loop holes he thinks should be ended because either A) he really doesn't think any should be eliminated, or B) he is afraid of offending some special interest that currently gets tax breaks.
Personally, I think it is both.
what has Obama done..put regulation back in..is a good thing...my child cant go out in secret and get a credit card ..and be in debt before going to college..21 is the age limit that is good
Wall-street cant go hog wild..and put us in another rescission..that right there has help the economy in 4 years
Yeah Brian, as an Eisenhower republican looking at today's GOP let me tell you that you can forget that. Mitt is a bit of a dolt but not a jerk. He actually did a decent job in MA when I lived there and he bears no resemblence to the man now. He is twisted like a triple pretzel trying to make an increasingly weird and eccentric GOP base happy and he has no idea what he is doing anymore. He doesn't make any sense, nothing he suggests has any details and when it does it sounds to me more like the same old same old that has slowly led us, over 30 years, to where we are now. I soooo badly wanted to vote for McCain but I just could not because he too looked like a baffoon when he abandoned all common sense to appeal to a party that has no grip on reality. Mitt probably was granted amnesty in 2009 when the IRS brought the hammer down on Swiss accounts and likey Mitt paid a fine for squirreling away money out of the US. I am guessing that will show loud and clear in his returns so he won't release him. That would be the bullet through the heart that ends his campaign so we will never see those taxes and because he doesn't really understand (because it makes no sense) all of the plans he is being told to espose by the GOP he can't give us any details. How can he? No one can figure out what he will do and so here we go again....
look at the record and vote! 8.4% unemployment,2000 plus innocent murdered with bobama/holder guns, secrets sold out for a vote or headine,more "czars" then in Russia's cold war with a promise on an open mike"this is my last election, i will be more flexable then"!!!! If this puke of a pathalogical LIAR president cannot wake you libtards up, then just stand with all the others that will be FIRED by the same ones you constantly tried to use class,race,age, warfare against on a daily basis!
Murphy Andrew...
Wow dude, sounds like you just sh!t your panties!
The answer is liberal's he has no plan and this I can tell you if he does not put forth a plan before the end of this election he will lose.
yes romney will lose..he wants to lead...without saying a word..It did not work for Palin and it will not work for him
Would you like to bet on that Elvis if Obama does not put forth a viable plan to fix the economy.
yes
USAF50
It seems like Romney needs to put forth a plan or he will lose. In fact he's already losing at the polls.
We all know what we can expect from Obama, and the Tea Party obstructionists don't bother us much.
Besides, do you think for a moment that the Senate, (as it is now) would pass anything Romney wants to pass? LOl
Good Elvis I will take that bet. You have no clue how pissed people are that he put forth not plan in his exception speech and I will gurantee Romney is going to hit him with this in the debates ans all the way to the end of the elections.
remember people USA made a bet with me..my trailer house for his mansion
Lilirocks not blow your theory, but that bump Obama got will be short lived the economy is not going to magically recover so when it comes time for the Debates Obama will have to answer for his policies infront of millions of Americans he will not be able to lie and deflect and on top of that the people will expect a plan and if he pulls the bull sh it he did at the convention of putting forth goals with no plans he is done.
all he has to say is tea party..we remember
Elvis as long as you rememeber the same bet liberal trash
I will be waiting...you want my number..so it will be a good bet
I will be here sweetheart can't wait to rub it in.
409-553-1373 Beaumont TX number..I can tell your a woman ..no man calls another man sweetheart
Yes a bipartisan act when has Obama put forth an act that was bipartisan the answer is never.
The Democrats are the enemy, the real enemy of this country. When are we going to start talking openly and frankly about this? In everything they do, their goal is to tear this country down, tear this country apart. From their collectivist policies, to their abandonment of American sovereignty, to the importation of whole Muslim communities from jihad nations, from the open borders, to the destruction of capitalism.
And Obama is their plant in the White House.
Well, I don't know if I agee with you that the dems are the real enemy and that their goal is to tear this country down. However, living in California and seeing how the democrats have brought this state to its knees, I can say that I believe that the dems policies are a real detrement to this country.
"When fascism comes to America, it will be wrapped in the flag and carrying a cross." Sinclair Lewis.
Sounds more like the Tea Party to me. When you start calling people who disagree with you an enemy to America, you're a fasicst.
Kind of like those that call us racist because we disagree with Obama, right Clotho?
Tax breaks and increase in war production...then by by to benefits thats the cuts
Yeah, I have to agree USAF50, if he doesn't put forth a clear plan he is done...I think he is losing tractions slowly because he will not tell anyone the specifics especially when it comes to "eliminating loopholes". That phrase alone has scared the crap out of just about everyone making between $40K - $150K a year. Romneys only chance is to come out with a clear list and if he does that he risks scaring people away.
look above you benefits
If you liberals think that independents will vote for Obama again without a plan to fix the economy then you are even crazier than I thought you were. Without independents Obama doesnt win its that simple.
USAF,
I'm an Independent that is leaning towards voting for him. Allot of my friends think the same way. So far, your guys haven't showed me anything to get my vote. So why are they so crazy to think we wouldn't vote for him?
In order to defeat those that are purposely destroying our economy, I think we must make a clear distinction between those Democrats who vote Democrat because of family traditon--who are populists, dreamers, or old-fashioned bleeding-heart liberals--and those who are behind the radicals in the SIEU; that is, the marxist party-within-a-party that Obama and the SEIU represent.
Oddly, many of those in the first group are unaware of the existence of the second. They're the useful, incurious idiots who elected Obama. Dumb as it may sound, I believe they do not realize that their party has been taken over by the communists. That's what happens under the relentless drip, drip, drip of leftist propaganda as practiced by western media: our loved ones have been brainwashed.
If we take this approach, we may be able to expose and marginalize those in the Democrat party who are rabid marxists.
did you go and watch the movie Y2k the year 2000...was pat Robertson there??do you still have food left over.don't worry you can eat it in 2016
Aaron Klein of WorldNetDaily reports, August 3, 2011, that the Communist Party USA (CPUSA) is endorsing Barack Obama for the 2012 election.
In an article last week at People’s Weekly World, the official newspaper of the CPUSA, despite being disappointed with “some aspects” of the Obama administration’s domestic and foreign policy, Sam Webb, chairman of the Communist Party USA, threw his support behind Obama’s re-election bid.
NOBAMA2012.... because the COMMUNISTS are Endorsing him.... AGAIN!
wow SSmithlg...wow....wow. Uh...jeez.......wow. You are one really sick puppy. I am guessing the nurse forgot to give you your meds today. Damn...what is scarier than the fact you believe this stuff you are on about (not to mention the rediculous of your generalizations which are wildly inaccurate and paranoid in a way that puts Stalin to shame) is that you vote AGAINST this imagined enemy instead of FOR the moron who is your only alternative. Yikes.
yes Russia is hoping he will win...England is hoping he will win ..the whole world i hoping Obama wins
he look at my picture and it scared him
A writer for the Communist Party USA says that “…re-electing Obama is absolutely essential,” and warns that “divisions among Democrats and a potential wave of bad economic news can combine to threaten President Obama’s reelection.”
Marxist John Case, who writes for various CPUSA publications, has written a piece, “The danger of a Romney election [1],” for the party publication People’s World, which warns that “Re-electing Obama is not sufficient to bring economic recovery or even relief to our people. Only a different class configuration in political power can do necessary minimum reforms to give us a chance. But re-electing Obama is absolutely essential.
good there is his white vote
elvis & steven, please spare me your personal attacks when I state facts that differ with your agendas, it makes you both sound like "useful idiot" tools of the Left.
ssmithlg...LOL
good he has the white vote now is there a negro Communist in the Communist party
I guess the term fact has a loose meaning to some people.
good we will take the votes....hahahahahaha
Steven,
Do you know how many belong to that group? Google it, you might decide that their endorsement would mean nothing. By the way, did President Obama seek out that endorsement....No!
They can do whatever they want including endorsing the Queen of Sheba doesn't mean she would actively seek it! Plus, that is really old news that has been shown for what it is. I guess you guys will try anything!
I shut him up independent
Obama is not even in touch with his own party.
PTI,
Did you also hear about mitt saying there are parts of obamacare that he would keep. What happened to I'll repeal obamacare my first day in office.
First, can you give me a link to where he said that(the part about he would repeal obamacare the first day in office)? Next, the president cannot repeal obamacare.....it is going to take the house, senate and president to do that just like it took it to get passed.
hahahah yes they can call him a socialist now
Actually GCCAL, he has said that several of times in a variety of ways. I am sure a basic search on google will give you the answer. And why are you surprised? He passed the same thing is MA which is what the Heritage Foundation suggested as the best course for health care in the future...why would he do-away with the health care bill in its entirety...for starters, the insurance companies, who stands to make a lot of money from compulsary insurance will never let him.
Obama care is not all bad just the majority of it is. Including the parts were he steals 716 Billion from medicare and medicaid to pay for Obama care.
Steven...........I do basic google searchs everyday and have learned a long time ago that what is written by some joker on some web site is full of bias and misleading comments. Next, I never said I was surprised because I am aware of his actions as Govenor. Please next time read what I wrote, not what you think I wrote or meant.
Obama's mentor was COMMUNIST, Frank Marshall Davis......
Frank Marshall Davis had a strong influence on a young Barack Obama throughout the 1970s, the period of Obama’s adolescence, right up until the time Obama went to college at Occidental. He’s mentioned by name dozens of times in Obama’s memoirs, over the course of thousands of pages and every section. There’s much more to say about that, but first let’s stick with the person of Davis.
It’s no exaggeration to say that Frank Marshall Davis, Barack Obama’s mentor, was an actual, literal card-carrying member of Communist Party USA (CPUSA). His CPUSA card number was 47544. That number is posted on the cover of my book, and the declassified documents with the number are published in the appendix.
will yall make your minds up is it Muslims or Communist
Neither, it is dumb azz.
oh its neither so y'all have been just dumb azzezz from the get go i see
Please elvis, try to make some sense when you post.
wait one second, wasn't it all the repub/tea baggers who claimed Nancy Peloisi had stated " vote for the bill, and then we'll tell you what's in it" or something to that effect??? So where is the GOP outrage when Mitt is basically doing the same thing!!! Great post above regarding the expiration date on the OWG party (the party formally known as the Republican Party, may it RIP- and good riddance!
And I suppose you are just bubbling over with excitement on Obama's reversal of this:
No we did not claim she said that..................she actually did. Get your goddamn facts right before calling us out.
GCCal= good little repub, changing the subject. Doesn't change the fact Mitt IS DOING the very thing you hated, but now you give him a pass. Stick to the subject at hand, and don't bring up a six yr old non-related tidbit to "prove" your holier than thou!!
The wealthy businessmen don’t want pro-consumer laws, just pro-business laws. They don’t want big government to regulate them, they want a deregulated, free economy so that corporations can do whatever they want (& bring down the economy again?) They are enjoying all their tax breaks & tax loopholes (super rich welfare) while others are struggling to survive & feed their families. They have their own medical insurance for their families, they don’t need Medicare. They don’t worry about their parents Social Security, they are covered by their wealth. They can afford higher education for their kids, they don’t need scholarships. They don’t care about the middle class & the former middle class, the poor, you are on your own, just keep giving them their tax breaks & tax loopholes, they will take as much as you give them (that is if you have any money left, they have taken it ALL). Oh, don’t worry, they will create MORE JOBS, like they did with all the previous tax breaks & tax loopholes (remember, they are the JOB CREATORS). They are here to make money, even at other taxpayer’s expense. It’s Greed VS Need Businessman Romney votes are AS IS, NO GUARANTEE. Buyer Beware, Voter Beware. Vote pro-consumer! Vote Obama
this is folks this should be on the front of every new papers in America
Didn't I hear Romney say he wanted to eliminate the capital gains tax?
I don't know, did you?
I own a business, make over 300K, 15 employees. I chuckle how little the average blogger doesn't have a clue how taxes work. There is a corporate tax, and an income tax. There are a few tricks, but overall I get slammed on taxes. You have to make a lot more than $500K before you can start to use the tax havens, Swiss bank accounts etc. The Bush tax cuts were of no consequence, I paid a high tax rate in 2000 but the tiny Bush tax cuts were more than offset by Health insurance costs. My income is still a function of how much business we do, which is up dramatically from 4 years ago.
Any loss of deductions would simply add insult to injury. There is no possible way I can pay less than 30% of my income in taxes and 35% of corporate retained earnings in taxes. I find it insulting that someone could pay themselves in capital gains and pay less than 15% of their income in taxes. I listen to right wing crap every day and my simple reply is that what Romney and Ryan have for business experience has absolutely no basis in reality for what most business owners in America actually do. Obamnycare is the first actual cost savings I have seen in 20 years, you are a fool if you oppose it.
How come this small business owner hasn't been invited to any Romney events, like the steel fabrication plant in the commercial that "he built that not the government" but did it on government tax free bonds. Or the woman who it turns out got a loan from the SBA and actually appeared in a commercial for SBA.
Hey Fiesty, remember when Queen Anne said it was their turn in an interview awhile back? Like they have been waiting and somehow they are entitled to the presidency? I loved Bill Mahrers line how he looked at the DNC and saw people you would see in any city and the RNC looked like Antiques Roadshow.
Well coming from that idiot who thinks woman are wh ores and cu nts I would take what he says with a grain of salt
And the DNC looked like a three ring circus.....how many verbal votes did they take before the Mayor of Los Angeles made his profound decision.
Elvi,,,why so bitterr??? Someone puked on your favorite poster of debbie blabbermouth shultz?
why yes would you think i would be thinkng of you??Republican rich log cabin homo
I think i seen Romney in a commercial about insurance...he said he built that and his pants caught on fire...we can call Romney pants on fire..the commercial was from progressive insurance
Here all along I thought you were an intelligent person. Sorry I am wrong....just making up crap to fuel your ego.
SSMITH, the notion that the democrats are a bunch of commies is simply whacko...and when you seeth with rage over such an outrageous claim, people will think you are nuts. Let's address this "fact" thing and make a point. You note that the communist party in the US says that it is imperative the Obame be re-elected. This may well be true...but their endorsement no more confirms Obama as a communist than it does that he has 18 toes. If the Sierra Club came out and said that it is a absolutely essential that coal fired electric plants use mecury scrubbers does that suggest that the power plants are green energy? Further, the Sierra Club might endorse the scrubbers because it is the lesser or two evils (ie. haing scrubbers or not having them) but in no way would endorsing the use of scrubbers suggest anything about the power plants themselves. Here is the problem...you are all worked up that Obama is a communist and you throw out what you believe to be a fact (the previous post about the communist party endorsing him) but just because someone knows a communist or is endorsed by one does not deliver the same status on the endorsed. The reason people don't tke what you say seriously is that you are so deeply embedded in your passion that you are unable to validate the logic of the items used to stir your particular beliefs. Honestly, there is probably little hope for you because you are too far gone...even for most of the GOP but perhaps this will help lay a bag of snakes out straight for other readers.
Is it now last time I looked wasnt it communist who did not believe in God.
I believe in GOD
I notice how you liberals are always talking about out sorcing but you never get to the root of why out sourcing started to occur and it has one starting point NAFTA and guess who pushed for and signed NAFTA it was one man William Jefferson Clinton. Now imagine that your hero Clinton started it all. Now don't you liberals feel special.
America is not a Communists party...but the fascist today are coming and using Gods name to get what they want..like your party.Tea Party
Unfortunately Elvis your leaders in the Democratic party don't.
yes with a house and senate like the tea party oh they are the tea party
in my house i Will serve the lord...I don't force others to do as i do
Conservatives didnt remove god from its platform but liberals did ha ha ha.
Conservatives didnt boo God but liberals did what does that say about your party Elvis you feel under siege because you should.
Conservatives dont call Christian Taliban because they may not agree with something they have said but liberals do. You know Elvis the more you line up the dots the more the liberals are looking like extremist.
no they value peoples right just like the lord does freedom..even if they don't believe in him he still loves them
Elvis sorry but the truth hurts the real nut jobs are in the Democratic party and i can point to one example after another to prove that point.
USA - Who the hell are you to say who believes in God or not - are you able to look into men's souls ?
And so what we have in all of our beliefs and in all of our cultures the same God but a different way of getting to her or him
Look little boy nobody made you the guardian of God
Did you believe it when Michelle Bachman said god told her to run for president at the same time god told Perry to run for president and I'm sure Santorum's god told him the same thing
Your arrogance astounds me - you little boy you do not have the ear to god - and you have no right to judge - as they say "judge not lest ye be judged"
And in closing my god is me - stick that in your pipe and smoke it!
Question #2 for Mr.Romney; It seems that an overwhelming number of Americans distrust your spoken word or feel you and your running-mate have misspoken on too many occasions to trust you with the presidency. How do you respond to those claims?
This has already been looked at..you can't close enough loopholes for the rich to cover the 20% tax cuts...you'd have to eliminate tax breaks that impact everyone..like the home mortgage deduction and state taxes. Mitt the Magic Mormon is hoping no one vets this stuff.
I have never thought much of Mitt Romney, but now I'm starting to think he's downright evil. I'm talking anti-Christ-evil. Every time he opens his mouth he fits the bill better and better......
Romney closes all loopholes for those who are not republicans, he will give all loopholes to republicans - he will link the registered voters data to the IRS and make republicans richer and democrats poor, then kick them out of their homes like he said the Las Vegas real estate market should do as quick as possible on foreclosures so they Bottom Out! NEVER TRUST Romney and Ryan, he would lie to anyone to get richer and more power, it is in his blood and soul.