‘Wilkow!:’ The Truth About Romney’s Tax Plan

Oct. 10, 2012 10:08pm Christopher Santarelli

Republican presidential candidate Mitt Romney has faced intense criticism from the Obama campaign for the intent and details of his tax reform plan, notably having to repeatedly explain his “5 trillion dollar tax cut” during last week’s presidential debate. Is it a hike in taxes and cuts in services for the middle class in exchange for tax cuts for millionaires as the Obama campaign alleges? Or is it a tax rate reduction for all income levels combined with a closing of loopholes and deductions?

Watch Andrew Wilkow below explain the truth behind Romney’s tax plan:

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Comments (13)

Landon410
Posted on October 11, 2012 at 8:37am
I prefer a flat tax

everyone, EVERYONE, pays X%
I don’t care if you only made 15,000, 10,000, 5,000 you pay X%
made 5,000,000? you pay X%

we could drop 95% of the IRS off our dime, would take seconds to do our taxes.

Ok I made $(insert figure here) this year, they took X% out of each check, looks like I’m done….. no pay in, no returns, its done.

I would say if EVERYONE paid 18% we’d be doing pretty good because right now when we have millions of people that pay 0%

I mean if we’re talking about “fairness” lets be fair, everyone pays the same %

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- jpndhouse
  Posted on October 11, 2012 at 4:24pm
  I like the idea of a flat tax, but do understand the idea of the progressive tax.
  
  If I make $20 K/yr, 18% of that is roughly 4K/yr.
  
  If I make $200 K/yr, 18% of that is roughly 40K/yr.
  
  The 18% tax on the 20K/yr guy is going to really impact his life, whereas the 200K earner will barely notice it as far as lifestyle.
  
  I think there should be a minmum tax for everyone. Everybody should pay some taxes. Just like Biden said, “it is patriotic to pay taxes”
  
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Hunter Campbell
Posted on October 11, 2012 at 1:25am
“Individualism” is right, the Fair Tax would be the best system of all.

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- damon_k
  Posted on October 11, 2012 at 5:29am
  In ancient Israel everyone, rich or poor, paid half a shekel in taxes. That way everyone had skin in the game and the poor felt they were as important as the rich. Read more commentary at: http://smallcraftadvisorychronicles.blogspot.com/
  
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- soybomb315_II
  Posted on October 11, 2012 at 6:47am
  Gary Johnson is the only person supporting a fair tax plan. Romney and Obama are on record saying they prefer a progressive tax code
  
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I_DIAL_1911
Posted on October 11, 2012 at 12:10am
I will pay whatever he wants me to. He is a true AMERICAN, with AMERICAN VALUES in mind.

ROMNEY/RYAN 2012

*remember to dispose of yo’ dead OBAMA PHONE properly in January*

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- GilbertAcct
  Posted on October 11, 2012 at 2:54am
  “I will pay whatever he wants me to.”
  
  You are making it too obvious that you are sheep-like follower of a demagogue. That statement is eerily similar to the Obama sheeheeeheeople who don’t care what he does.
  
  Please reevaluate to whom/what you should pledge you allegiance.
  
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GilbertAcct
Posted on October 11, 2012 at 12:07am
Romney’s tax plan is inherently redistributionist… as is his healthcare plan. I’m fine with people supporting him over Obama, but please don’t let him become a spokesperson for capitalism and free markets. He’s not. It pains me to see Romney taking the baton from Bush and further disgracing what the world views as capitalism.

If anyone thinks he is approaching a fair tax, you are completely wrong. He emphatically stated in his interview on 60 minutes that we MUST keep the “progressivity” of the tax system, and that he would never change that. In fact, he wants the rich to keep paying the same, and the middle class to get a cut. Therefore, he wants a redistributionist tax system to be even more redistributionist! Then this Harvard grad says the next day, “We believe in free people and free enterprise, not redistribution. The right course for America is to create growth, create wealth, not to redistribute wealth.” What a poor excuse for a conservative and a what a danger to the name of free markets and capitalism.

Again, vote for Romney… fine… but don’t let him try to define what capitalism and free markets are.

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- soybomb315_II
  Posted on October 11, 2012 at 6:48am
  here here
  
  Bush said that we need to abandon the free market in order to save it. Romney might just abandon it. If Romney wins, I hope everyone is committed to holding his feet to the fire
  
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Individualism
Posted on October 10, 2012 at 11:33pm
i will take the 23 percent fair tax thank you from the real leader and non puppet running.

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LETJOYANDINNOCENCEPREVAIL
Posted on October 10, 2012 at 11:30pm
Too bad he’s preaching to the choir. Somehow there’s a tax-system-understanding deficiency in liberal brains. It’s actually this TSU protein in the brain that determines if you’re right… or wrong, and therefore need to lie to cover up for this deficiency. The strain of having to think up all those lies is just too much for some of those deficient that it is the actual cause for why Nancy Pelosi and Harry Reid look as pinched as they do.

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- LETJOYANDINNOCENCEPREVAIL
  Posted on October 10, 2012 at 11:53pm
  Oh yeah… and the Real reason Obama lost the debate.
  
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JESSEBEGATDAVID
Posted on October 10, 2012 at 11:28pm
Looks like he’s moving in the direction of a fair tax. I like it!

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