Marco Rubio Throws Cold Water On Romney's Tax Plan
Source: Huffington Post
Marco Rubio On Romney Tax Plan: Don't Touch The Biggest Deductions
NEW YORK -- Underscoring just how hard a political lift Mitt Romney's tax reform plan would be if pursued, Sen. Marco Rubio (R-Fla.) said on Tuesday that he would be uncomfortable with any plan that cut down some of the biggest deductions.
"There will be a very helpful debate about whether things like the charitable deduction, the health insurance premium, the home interest deduction should be part of the deal," Rubio told a crowd of journalists at a Bloomberg View event. "I don't think that those, especially the home interest deduction, [reducing that] is troubling, because it really helps the middle class. Do you really want to hurt charitable giving in a country when you are saying that you want to rely less on government and more on private institutions to deal with these issues? And how are you going to raise taxes on people on their health care premiums when you are saying you want there to be a system in place where folks can have more control over their own money?"
Rubio's analysis of who benefits from these deductions is correct. It is primarily the lower and middle class. But politically, his statement throws cold water on Romney's tax reform plan. Without touching the charitable, home interest, or health care deductions, there isn't even close to enough revenue to pay for a 20-percent across the board rate cut of the kind that the Republican nominee has pledged -- even including those exemptions and deductions doesn't get you close. A recent Joint Committee on Taxation report suggested that including those exemptions and deductions would get you toward 4 percent of the cost.
Read more: http://www.huffingtonpost.com/2012/10/16/marco-rubio-mitt-romney-tax-plan_n_1970484.html
ashling
(25,771 posts)flamingdem
(39,321 posts)No vas a ser Presidente, nunca Marquito
russspeakeasy
(6,539 posts)truthisfreedom
(23,155 posts)Just wow.
TBF
(32,090 posts)although I know you are acting completely in your own self-interest for 2016.
Response to kpete (Original post)
Post removed
DippyDem
(659 posts)Dem2TheCore
(220 posts)There it is. The Republican Party starts to fracture. It will be interesting watching Rubio try to sell a centrist moderate position to the Republican base during the primary season.
Maybe he can hire a bunch of Romney staffers to walk them all back after he says them.
bucolic_frolic
(43,286 posts)Too much logic applied to Mitt's and GOP principles, there Marco.
You're supposed to say YES, SIR! to everything they say.
You won't get re-elected by rocking the yacht in this manner.
DallasNE
(7,403 posts)On reducing the deficit because that only gets you back to break even provided, and this is a big if, that the optimistic growth projections hold up. Remember Bush said his tax cuts would be paid for based on optimistic growth projections that failed to materalize. Then let's not forget the pledge to increase defense spending by $2 trillion that he doesn't pay for.
Clouseau2
(60 posts)You're not supposed to think about the plan, you're just supposed to have the Homer Simpson "oooh, 20% tax cuts" (said in the same way as "waffle runoff" reaction and stop there. And then go out and vote.
WallaceRitchie
(242 posts)Rubio should just become a Democrat. Join the winning team.
Uncle Joe
(58,417 posts)Thanks for the thread, kpete.
tclambert
(11,087 posts)because, you know, that's where the middle class gets so-o much of their income. So, so much.
He also plans to exempt them from sales taxes on caviar purchases (over 8 ounces).
toby jo
(1,269 posts)Rube's thinking how will this look next round?
Cool if he started em all lemming.