Romney’s proposal works. Cutting tax rates by 20% costs $181 billion. Eliminating the AMT and taxes on interest, dividends and capital gains for couples with incomes below $200,000, and singles below $100,000, costs $38 billion. Filers with AGIs over $100,000 took $636 billion in itemized deductions, which taxed at 30% raises $191 billion, $28 billion less than the lost revenue. But lower rates boost tax revenues and the gap disappears!
Tag Archives: Romney
Romney Gets Republican Nod
Romney will win the Republican nomination. So far, 582 delegates (25% of the 2,286 total) have been awarded. Romney has won 331, or 57%, while Santorum has picked up 139, or 24%. With 1,704 delegates left to award, Santorum must win 59% of the remaining delegates, more than 2.5 times his current success rate. By contrast, Romney must win just 48% of the remaining delegates. Easy breezy.
Are all Jobs Created Equal?
With the presidential primaries about to begin, what makes me nuts is watching Republican presidential contenders like Perry and Romney endlessly argue over who created more jobs as governor, including, gasp, government jobs. Yet out of the other side of their mouths they contend that only the private sector creates economic growth and that Obama has created no jobs at all. With displays of raw intellectual firepower like this, we’re doomed.