Author Topic: Brookings Institute: Romney Tax plan raises taxes on 95% (major issue)  (Read 4622 times)

Straw Man

  • Getbig V
  • *****
  • Posts: 41015
  • one dwells in nirvana
Re: Brookings Institute: Romney Tax plan raises taxes on 95% (major issue)
« Reply #50 on: August 04, 2012, 10:29:36 AM »
Okay, so you'll dismiss it all as nonsense without even knowing the details. This reveals a larger trend in your posts, where you state some unbacked assertion, and then when you're challenged on them you state something to the effect of "I'll look into the others later" or "I don't have time to read that right now." Let's deal with the ones you object to separately:

1. It's indisputable fact that Obama has argued for extending the Bush tax cuts for those earning under $250,000 FOR ONE YEAR. If he believed in never raising taxes on the rich, then why wouldn't he extend those tax cuts permanently, or at least for the 10-year period which avoids the Byrd rule?

2. Again, with the payroll tax cut: if Obama planned on not raising taxes on the non-rich, then why wouldn't he make this tax cut permanent or at least extend it for the 10-year period which avoids the Byrd rule?

5. Are you trying to claim that middle income earners don't use health savings accounts? Everyone who works for Whole Foods and the municipal workers of several counties disagree with you.

6. See above.

I just don't the time or interest right now but I'll quickly address the first two

Bush tax cuts expiring are not a tax increase by Obama - if you have a problem with it then blame Bush and the Republicans but there hands were tied too because the rule on congress forced it to sunset due to the fact that it increase d the deficict - something that has been said on this board about 100 time

payroll tax cut was temporary and the expiration brings the rate right back to where is was when Obama took office - hence no increase in taxes

I personally have a HSA as part of my insuranc.   Any $'s into the account gives you  a TAX benefit.  Just because I can't use the $s' to buy OTC medicine at my discretion doesn't mean I've lost my tax benefit

Jesus man, this is all easy stuff to understand.   I can't believe you actually need this explained to you

I'd explain the others but have no time or interest on this Saturday morning

howardroark

  • Getbig IV
  • ****
  • Posts: 2524
  • Resident Objectivist & Autodidact
Re: Brookings Institute: Romney Tax plan raises taxes on 95% (major issue)
« Reply #51 on: August 04, 2012, 10:34:11 AM »
I just don't the time or interest right now but I'll quickly address the first two

Typical evasion.

Quote
Bush tax cuts expiring are not a tax increase by Obama - if you have a problem with it then blame Bush and the Republicans but there hands were tied too because the rule on congress forced it to sunset due to the fact that it increase d the deficict - something that has been said on this board about 100 time

So blame Bush and the Republicans even though their hands were tied by a Democrat filibuster?

Obama could take the course of "Bush and the Republicans" and extend the tax cuts for a ten-year period in order to avoid the Byrd rule. So why hasn't he done so? Why is he arguing for

Quote
payroll tax cut was temporary and the expiration brings the rate right back to where is was when Obama took office - hence no increase in taxes

So would you also argue that the study which claims that Romney is raising taxes on middle-income earners is bogus, because the entire premise behind the Romney tax plan raising taxes on middle-income earners relies on the assumption that Romney will allow these payroll tax cuts to expire?

So by the same token - does that mean that Obama's tax plan will raise taxes on middle-income earners? After all, if it applies to Romney, shouldn't it apply to Obama?

Quote
I personally have a HSA as part of my insuranc.   Any $'s into the account gives you  a TAX benefit.  Just because I can't use the $s' to buy OTC medicine at my discretion doesn't mean I've lost my tax benefit

It means you have to pay taxes on money used to buy OTC medicine. That is a tax hike, plain and simple.

Quote
Jesus man, this is all easy stuff to understand.   I can't believe you actually need this explained to you

That's how I feel about you every single time I reply to your painful kneepadding or economic ignorance.

Quote
I'd explain the others but have no time or interest on this Saturday morning


Typical evasion.

Straw Man

  • Getbig V
  • *****
  • Posts: 41015
  • one dwells in nirvana
Re: Brookings Institute: Romney Tax plan raises taxes on 95% (major issue)
« Reply #52 on: August 04, 2012, 10:36:34 AM »
You realize that Romney's plan cuts tax rates across the board by 20%, eliminates investment taxes for those who earn under $200,000, and repeals the AMT which taxes upper middle-income earners, right?

So can you please point out where there is a hidden middle-income tax hike in the Romney plan?

sure thing

as soon as you point out where I said it did

I haven't looked at it much and my only comment was that Romney recently praised the TCP as being objective and now he calls the very same group bias

As you pointed out, Romney has left out details that it impossible to draw certain conclusions but when TCP makes the best case assumptions is still doesn't work out

Hopefully Romney will be forthcoming with him statement to put it on the table and fill in the missing data

Here's someone who has researched it so maybe you'll find some answers to your question:
http://www.washingtonpost.com/blogs/ezra-klein/wp/2012/08/04/romney-tax-plan-on-table-debt-collapses-table/

howardroark

  • Getbig IV
  • ****
  • Posts: 2524
  • Resident Objectivist & Autodidact
Re: Brookings Institute: Romney Tax plan raises taxes on 95% (major issue)
« Reply #53 on: August 04, 2012, 10:43:11 AM »
Do you realize that the ONLY assumption that the study uses to justify that Romney's tax plan will raise taxes on middle and lower-income earners is that he will allow the payroll tax cut expire? Do you realize that making the same assumption for Obama would mean that Obama is a bigger tax hiker than Romney?

Straw Man

  • Getbig V
  • *****
  • Posts: 41015
  • one dwells in nirvana
Re: Brookings Institute: Romney Tax plan raises taxes on 95% (major issue)
« Reply #54 on: August 04, 2012, 10:46:12 AM »
Typical evasion.

So blame Bush and the Republicans even though their hands were tied by a Democrat filibuster?

Obama could take the course of "Bush and the Republicans" and extend the tax cuts for a ten-year period in order to avoid the Byrd rule. So why hasn't he done so? Why is he arguing for

So would you also argue that the study which claims that Romney is raising taxes on middle-income earners is bogus, because the entire premise behind the Romney tax plan raising taxes on middle-income earners relies on the assumption that Romney will allow these payroll tax cuts to expire?

So by the same token - does that mean that Obama's tax plan will raise taxes on middle-income earners? After all, if it applies to Romney, shouldn't it apply to Obama?

It means you have to pay taxes on money used to buy OTC medicine. That is a tax hike, plain and simple.

That's how I feel about you every single time I reply to your painful kneepadding or economic ignorance.

Typical evasion.

I have no time for you this mornign and it's obvious that you don't even understand how an HSA account works so why wiould I waste my time explaining even more complicated  stuff

here's how an HSA works

$'s going in = $'s not taxed as income that year

just because I can't buy aspirin with my HSA doesn't change my tax savings that year by one penny

when I go buy aspirin with my non-HSA $'s I still haven't lost one penny of the tax savings from my HSA account nor have increased my income tax liability by that purchase (I assume of course you're not referring to sales tax because if it's applicable in your state you'd be paying it whether you used HSA $'s or not)


howardroark

  • Getbig IV
  • ****
  • Posts: 2524
  • Resident Objectivist & Autodidact
Re: Brookings Institute: Romney Tax plan raises taxes on 95% (major issue)
« Reply #55 on: August 04, 2012, 10:52:47 AM »
I have no time for you this mornign and it's obvious that you don't even understand how an HSA account works so why wiould I waste my time explaining even more complicated  stuff

Typical evasion.

Quote
here's how an HSA works

$'s going in = $'s not taxed as income that year

I know.

Quote
just because I can't buy aspirin with my HSA doesn't change my tax savings that year by one penny

when I go buy aspirin with my non-HSA $'s I still haven't lost one penny of the tax savings from my HSA account nor have increased my income tax liability by that purchase (I assume of course you're not referring to sales tax because if it's applicable in your state you'd be paying it whether you used HSA $'s or not)

Say you have to purchase $200 of OTC medicine throughout the year. Before, you could do that with untaxed income through your HSA. Now, you can only do that with income taxed at whatever your marginal tax rate is. Is that not a tax increase?

Straw Man

  • Getbig V
  • *****
  • Posts: 41015
  • one dwells in nirvana
Re: Brookings Institute: Romney Tax plan raises taxes on 95% (major issue)
« Reply #56 on: August 04, 2012, 10:54:50 AM »
Typical evasion.

I know.

Say you have to purchase $200 of OTC medicine throughout the year. Before, you could do that with untaxed income through your HSA. Now, you can only do that with income taxed at whatever your marginal tax rate is. Is that not a tax increase?

no it's not an increase because my contribution to my HSA is EXACTLY the same and that's where the tax savings comes from

using non HSA dollars to buy $200 of medicine does not change that fact

tonymctones

  • Getbig V
  • *****
  • Posts: 26520
Re: Brookings Institute: Romney Tax plan raises taxes on 95% (major issue)
« Reply #57 on: August 04, 2012, 01:49:45 PM »
nothing because it's not in the middle class tax hike thread and the link doesn't work

You said Obamacare had tax increases on the midle class and you weren't referring to the mandate so how about some details
you specifically stated that both threads include a lot of nonsense

so what nonsense do you see from the ernst and young assesment straw man?
I saw them both and both include lots of nonsense

you were speaking specifically about taxes in the health care legislation and I asked you to name some

define what you're talking about