[jeffkrol]

Mitts' OHIO moment...........

Mitt Romney blunders again on taxes - The Plum Line - The Washington Post

“I’m going to champion small business. Small business, where jobs come from. And let me tell you how to do that. One, as Senator Portman said, we’ve got to reform our tax system. Look, small businesses typically pay tax at the individual tax rate. And so, our individual income taxes are ones I want to reform, make them simpler. I want to bring the rates down. By the way, don’t be expecting a huge cut in taxes, because I’m also going to lower deductions and exemptions. But by bringing rates down, we’ll be able to let small businesses keep more of their money, so they can hire more people.”

Either that is an error by Romney, or he is freely admitting that is tax plan would target exemptions and deductions enjoyed by the middle class. Romney has claimed that his tax plan — which contains across the board tax cuts that disproportionately and hugely benefit the rich — will be revenue neutral, and that he will accomplish this by targeting loopholes that benefit the rich. But he hasn’t explained which ones he’d target, and the Tax Policy Center found that his plan could not pay for itself unless he also targeted loopholes enjoyed by the middle class, canceling out their tax cut and then some.

Romney has rejected that analysis. But here he seems to confirm that he would target such loopholes. Indeed, according to Sam Stein, some in Romney’s audience today came away with that impression, though as Romney supporters they didn’t seem overly concerned about it.

What you’re seeing here, again, are the perils that accompany the embrace of a plan that is mathematically impossible.

Still selling "voodoo economics" and unfortunately there is a "sucker born every minute".................

for interest def of "small business"...............

http://www.forbes.com/sites/stevecooper/2012/09/20/the-government-definition...siness-is-b-s/

According to the United States Small Business Administration’s (SBA) Office of Advocacy, 99.7 percent of all U.S. firms are small businesses. Shocking, right? At least that’s what I thought when I was the research editor at another business publication many years ago. It’s no wonder that in order to get our economy back on track, Republicans and Democrats both argue in favor of tax reform and regulations that help these little guys compete with the big fish. There’s just one problem; depending on the industry, you could have 500, 1,000 or even 1,500 employees and still be considered a “small business.”

In general, nearly all businesses qualify with 500 employees (see SBA chart here).......................

I think about all this every time I hear a sales pitch from a political candidate about the struggling up-and-comer just looking to get a seat at the table—I think a good start would be to give them their own voice.

Yes seacaptain Romney is probably NOT referring to you...................

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Last edited by jeffkrol; 09-26-2012 at 10:48 AM.