quote:Originally posted by JasonR:
However, if you are trying to pay your bills at home, cutting expenses is important, but having money coming in is equally important.
I'm not for "increasing" taxes, but saying you are paying too much when you are paying less than any time in the last 50 years just sounds crazy.
If the Ryan tax plan were adopted, Romney's tax rate would be 0.82%. How can that be presented as a responsible option considering our crushing debt?
First of all, I question your data but regardless, If you donate enough money to charity, you can reduce your tax burden to nothing. Romney donated 29.4%, over $4 million to charity. Also, his income comes largely from Capital Gains, not income which makes a difference.
I totally agree with..."if you are trying to pay your bills at home, cutting expenses is important, but having money coming in is equally important." However, increasing taxes can be detremental.
“In short, it is a paradoxical truth that … the soundest way to raise the revenues in the long run is to cut the rates now. The experience of a number of European countries and Japan have borne this out. This country’s own experience with tax reduction in 1954 has borne this out. And the reason is that only full employment can balance the budget, and tax reduction can pave the way to that employment. The purpose of cutting taxes now is not to incur a budget deficit, but to achieve the more prosperous, expanding economy which can bring a budget surplus.”
– John F. Kennedy, Nov. 20, 1962, news conference