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October 09, 2012

Romney talks taxes, 47 percent, debates

Mitt Romney still won't offer details of his tax plan, but has some ideas.

He told CNN Tuesday "I'm not going to lay out a piece of legislation here, because I intend to work together with Republicans and Democrats in Congress.  But there are a number of ways one could approach this."

Among them: A "total cap number" on deductions, "It could be $25,000, $50,000.  And people could put whatever deduction in that total cap they'd like," the Republican presidential nominee said. "Or, instead, you could take the posture that Bowles-Simpson (bipartisan deficit reduction commission) did, which is going after specific deductions and limiting them in various ways.

"There are a number of ways we can accomplish the principles which I have --lowering rates for middle income people, making sure high income people don't pay a -- a smaller share and simplifying the code and then encouraging growth."

One thing he said seemed important: "What I do know is, we're going to have to re-reduce the deductions pretty substantially for people at the high end, because I don't want to make the code less progressive."

On other topics:

--On debate performance: "I think President Obama and I both had a good chance to describe our respective views as to how we'd do a better job. And I, frankly, think I benefited from the fact that rather than having people learn about me from ads prepared by my opposition, they got to actually hear what I would do from myself.
And -- and I think that helped me."

--On Thursday's vice presidential debate: "You know, I -- I don't know how Paul will -- will deal with his debate.  Obviously, the vice president has done, I don't know, 15 or 20 debates during his lifetime, experienced debater. This is, uh, I think Paul's first debate.  I may be wrong.  He may have done something in high school, I don't know.
But it'll -- you know, it will be a new experience for a -- for Paul.  But I'm sure he'll do fine.  And, frankly, Paul has the facts on his side.  He has policy on his side.  And we also have results on our side."--

--On his comments recently that calling 47 percent of Americans "victims" was wrong: "Well, what I'm saying is that what words were that came out were not what I meant.  And what I mean, I think, people understand, is that if I'm president, I'll be president of 100 percent of the people.  My whole campaign is about helping the middle class have rising incomes and more jobs and helping get people out of poverty into the middle class."

On Israel: "There's no daylight between the United States and Israel.  We have coincident interests.  We share values.  And we're both absolutely committed to preventing Iranfrom having a nuclear weapon."

 

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SpeedyLoanSearch

Lowering the capital gains tax rate won't help middle income families. Most middle income families have little investments (and the ones they do have are annuities and IRA's which already have deferred income taxes). The only people, with little exception, that will benefit from a lower capital gains tax, are the rich. I suggest following President Obama's lead, saying that he would pay a little more, instead of him trying to lower his own tax rate.

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