Romney Identifies Tax Cuts at Private Fund-raising Event

[Judi Lynn]

Today at 12:04 AM
Romney Identifies Tax Cuts at Private Fund-raising Event
By Brett Smiley

Mitt Romney spoke to deep-pocketed supporters at a private estate in Palm Beach, Florida on Sunday night, and from a public sidewalk outside, reporters were able to overhear specifics on tax deductions he would use to offset the 20-percent income-tax cut he's proposed for all taxpayers. At least publicly, Romney has to this point discussed his plan only in general terms. "I'm going to probably eliminate for high-income people the second-home mortgage deduction," Romney reportedly told the crowd in a backyard. "By virtue of doing that, we'll get the same tax revenue, but we'll have lower rates. The nice thing about lower rates is that small businesses not get to keep a larger share of what they're earning and plow it back in to hire more people and expand their business."

According to the Wall Street Journal, Romney also said he would likely eliminate the state income-tax deduction and state property-tax deduction.

In addition, the presumptive Republican nominee said he would seek to make cuts in the Department of Education and the Department of Housing and Urban Development.

"I'm going to take a lot of departments in Washington, and agencies, and combine them," Romney said. "Some eliminate, but I'm probably not going to lay out just exactly which ones are going to go. Things like Housing and Urban Development, which my dad was head of, that might not be around later. But I'm not going to actually go through these one by one. What I can tell you is, we've got far too many bureaucrats. I will send a lot of what happens in Washington back to the states."

More:
http://nymag.com/daily/intel/2012/04/romney-identifies-tax-cuts-at-private-fund-raising-event.html

[HeiressofBickworth]

1. He's so confusing

Is he lying to the 99% OR is he lying to the 1%. The underlying problem is that when you know someone is a liar, you become suspicious of everything they say and in the end, you distrust everything they say.

And now for the substance of what he said -- He plans on a slight of hand trick on the 99%. He is going to lower the tax rate but eliminate the two tax deductions the 99% count on the most: state income tax deduction and state property tax deduction. Yup, gonna stick it to us again. He also plans on eliminating a lot of jobs in Washington by eliminating various government departments, but then he has never been known as a job creator, has he?