Tuesday, September 11, 2012

Mitt Will Close Your 'Holes

Mitt Romney needs to offer specifics on his tax plan - The Washington Post

REPUBLICAN PRESIDENTIAL nominee Mitt Romney is specific about how much he will cut income tax rates for every American: by one-fifth. But he is vague about how he’ll pay for this, though he insists he can cut rates without losing revenue.

The danger is a repeat of 2001 and 2003, when President Bush and Congress enacted tax cuts that plunged the nation into debt. Mr. Romney says he can prevent a repeat by closing loopholes. But the “loopholes” that cost the Treasury most are deductions and other provisions that Americans have become rather attached to — for example, measures that promote homeownership, charitable giving and employer-provided health insurance...

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