Romney To Middle Class Ohioans: Don't Expect Too Much Tax Relief From Me

[kpete]

Source: Huffington Post

Romney To Middle Class Ohioans: Don't Expect Too Much Tax Relief From Me

WESTERVILLE, Ohio -- In a line that event attendees found a bit puzzling, Mitt Romney warned a crowd of mostly middle-class onlookers on Wednesday not to expect too much tax relief under his administration.

"We have got to reform our tax system," Romney said at a morning event here. "Small businesses most typically pay taxes at the individual tax rate. And so our individual income taxes are the ones I want to reform. Make them simpler. I want to bring the rates down. By the way, don't be expecting a huge cut in taxes because I'm also going to lower deductions and exemptions. But by bringing rates down we will be able to let small businesses keep more of their money so they can hire more people."

The comments were either a flub on Romney's part or an admission that many of the deductions and exemptions that he will have to target in order to make his tax plan deficit neutral will end up affecting the middle class.

To date, Romney has said that he will only eliminate deductions and exemptions above a certain income level. He hasn't said what that income level would be. But when asked whether he would make $100,000 the cutoff, he said that he considered "middle income" to be "$200,000 to $250,000 and less." (One of the few Romney-backing studies has said that the only way his tax plan adds up is if he eliminates deductions and exemptions above that $100,000 income level).

Read more: http://www.huffingtonpost.com/2012/09/26/romney-ohio-taxes_n_1915949.html

[NRaleighLiberal]

1. so, this is the first of the daily Mitt-stakes. So much material to work with, daily!

[dixiegrrrrl]

7. Mitt-stakes.....that's a good one.

[wordpix]

14. must-see KO video about RW definition of "small businesses" here

http://video.msnbc.msn.com/countdown/39316659#39316659

Everyone should see this, pass it on!

[pnwmom]

36. So they're going to lower overall business taxes by getting rid of individual's exemptions

and deductions.

Nice trick.

[Kber]

2. Someone might ask:

Will your tax cut be bigger or smaller than the one I got under President Obama?

Follow up:

What are the chances my taxes might actually be higher?

[Cosmocat]

33. OR

WTF are you making a big deal out of cutting taxes when you are saying that it will be a net wash after the elimination of deductions.

Seriously, you are running for president and tweaking the tax code in a manner that does not change how it ends up taxing people is supposed to be the reason to elect you?

[Arugula Latte]

3. "By the way, you worthless moochers shouldn't expect anything because

my richer-than-Midas plutocrat buddies need more tax relief. Hey, who wants to join me in a cheer of 'Romney-Ryan'!? Anyone?"

[lillypaddle]

4. Let's get this election on

put this idiot out of his misery.

[liberalgunwilltravel]

10. Not his, ours.

Let's get this election over with and put this idiot out of our misery.

[OregonBlue]

5. I assume he means that since most small business owners pay the individual rate and the

deductions he wants to eliminate are things like mortgage interest and property taxes deductions, etc. most small businesses will actually pay more, not less. On the other hand, since a small business is any company with less that 500 employees, financial consultants, law firms, etc. will get the benefits. As Warren Buffet said, he is considered a "small business".

[Botany]

6. Way to go Mitt ..... Westerville is hard core GOP

n/t

[bulloney]

11. It's Governor John Kasich's hometown, just to back what you're saying, Botany.

[Botany]

15. it is home to many fundy christian home schoolers too

and in 2004 "they" purged a man who is a local pediatrician who has lived in the
same house for 20 + years because he was a dem.



Romney's rally today ..... not a smile in the crowd ...... BTW hold it in a high school
and you can make sure you can have a full house.

BTW part ...... screw John Kasich the son of bitch who is so concerned about Ohio's
money would not live in the Governor's Mansion* but stays in his house in Westerville
@ a much higher cost to the Ohio taxpayer.


*
close to work and we have to pay for the upkeep anyway.

[maryellen99]

34. I really wonder if the majority of those people are going to vote for him

because they agree with his policies or because he's white?

[wordpix]

8. cut deductions for everyone but the rich and "small business" is code for large corporations: KO vid

Last edited Wed Sep 26, 2012, 12:30 PM - Edit history (2)

http://video.msnbc.msn.com/countdown/39316659#39316659

[dmallind]

9. You know there is one thing I really don't understand

This is not venting, or preaching to the choir (I hope). It's not even a claim that Republicans are dumb (not that I'm above claiming so). It's outright utter imcomprehension of why both parties are capable of explaining quite complex issues in simple soundbites in all areas except this business tax/hiring thing, which is a bone-simple utterly non-complex issue to begin with.

The two have fuck all to do with each other. All businesses from Joe's Two-Man Lawn Mowing Inc to Exxon pay taxes on profits. Profits are income minus expenses. Hiring and paying people is an expense. Lowering the tax rate does nothing whatsoever to gross profit, where labor is applicable, but only to net profit, long after labor costs are subtracted.

I'm no Plouffe or Axelrod. But this is not the ACA for Chrissake. Surely they can explain this more simply and more powerfully than I can. Why the hell does anybody still make this argument, or let it stand without being derisively dismissed?

[bulloney]

12. Not only that, you're not going to hire because you save a few bucks on your taxes;

you hire because orders for your products or services justify hiring additional workers. That happens when your potential customers have money to spend, not because the businesses in their communities pay lower taxes.

[qwlauren35]

19. THANK YOU!!!

That's the sanest thing ever. Lowering taxes does NOT create jobs. It creates bonuses.

[JDPriestly]

22. Thank you.

[Bonhomme Richard]

13. Same old BS meme that if we lower business taxes....

they will hire more people.
Absolute fucking bullshit. They only hire people when they can't handle the business they have and need more help.
Increased sales to customers determines hiring.

[Incitatus]

20. Not just that, but revenue that they

Use to hire/pay employees isn't taxed so I don't see how their argument makes sense

[left-of-center2012]

16. Don't Expect Too Much Tax Relief From Me

But ....... will that upper 1% get more tax cuts ?

[LynneSin]

17. Don't be expecting too much from us voters either

[DinahMoeHum]

18. Ohio to Romney: Bye bye, we're going for Obama.

[truthisfreedom]

21. Jeepers, rove's gotta have his eyes rolled back.

How does mittens do it? Every day he finds another way to fuck up. Pretty soon it won't be called a gaffe anymore. "Wow, he mitted again!"

[xxqqqzme]

25. Maybe it's one we've

never discussed or given thought to (I haven't anyway) Is there a circumstance where a person is over privileged? Their own personal, room for one, bubble Rmoney doesn't seem capable of relating, on a human level, to anyone.

[kpete]

27. Rove

suffering, yes...
he deserves it more than most!

peace, kp

[olddad56]

23. Mitt, don't expect too many votes from middle America.

[liberalmuse]

24. It's getting so...

before I even log onto DU, I think in my head, "What fresh Mitt...?" I expect to see gaffes every single time, and so far, I haven't been disappointed. When Mitt goes away for good, I'm going to have to go to rehab.

[oldsarge54]

26. Usless Data

A household income of $100K will put you at the 93.96 percentile for the nation.

A household income range of $200K - $250K will put you between 98.3 -99.9 percentile.

And to Mitt, them are the "middle class."

[MiniMe]

28. This is why Romney won't release any specifics about what his plan is

Just vote for him because you "trust" him. Sorry Mitt, we need to know what your plans are.

[daybranch]

29. Well at least

There was probably not any huge crowd to hear him say it.
50 or less people showed up at the Vandalia Ohio airport and the Kettering event was cancelled. We cannot stand Mitt.

[sakabatou]

30. "Instead, forget about it, we're not gonna give you ANY relief."

[central scrutinizer]

35. Austerity for you, Ostentatious Wealth for me

tighten your belt, Mr. and Mrs. Middle America. We 1%ers need just a teensy bit more, then we will start letting some trickle down.

[yellowcanine]

31. Need to get Mitt on the record that the mortgage interest deduction is on his hit list.

It has to be if he is going to get the kind of savings he is talking about. And you know that will sink him for good if he actually says it out loud.

[tanyev]

32. Keep talkin', Mitt! You're doing a great job.

[davidn3600]

37. Same old trickle-down crap