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View Diary: Conservative pundit explains why Republicans are screwed on taxes (137 comments)

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  •  So, are they admitting Obama and the Dems (3+ / 0-)

    have some POLITICAL CAPITAL on tax cuts for the rich?

    And cutting deductions for home mortgage, et al (Schedule A Itemized Deductions basically) will barely put a dent in rich people's taxes.  Another WHOPPER of a CONSERVATIVE lie.

    I've done enough taxes in my lifetime (accounting geek here) that they know their audience has NO CLUE what the real world impact of just removing those deductions from the wealthy (Already in place, btw, through the AMT or Alternative Minimum Tax).

    Yes, Romney knew the people he was talking to were clueless.

    -6.13 -4.4 Where are you? Take the Test!!!

    by MarciaJ720 on Tue Nov 13, 2012 at 08:13:48 AM PST

    [ Parent ]

    •  In an Op-Ed piece this morning in the NYT (2+ / 0-)
      Recommended by:
      phonegery, michaeloberg

      by Robert Rubin (An Op-Ed with which I don't agree) he did one thing that I like.  He thoroughly tore up the arguments that tax reform (eliminating mortgage, charitable, etc. deductions) would work.  Doesn't raise anywhere near enough money and they wouldn't last anyway as pressure groups would move quickly to get them reinstated.

      Suppose you were an idiot. And suppose you were a Republican. But I repeat myself. Harry Truman

      by ratcityreprobate on Tue Nov 13, 2012 at 09:38:06 AM PST

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    •  Yes. The AMT (2+ / 0-)
      Recommended by:
      ratcityreprobate, Eric Blair

      (Alternative Minimum Tax) may  kick in on your middle class level income, too.  By the time you add the tax on 85% of your Social Security benefit,  you get to pay  more than a fair amount of taxes. It's a dent,  not a killer dent, but a dent in  retirement income based on Social Security and savings.

      Time is a long river.

      by phonegery on Tue Nov 13, 2012 at 09:58:14 AM PST

      [ Parent ]

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