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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region Forums"It almost takes your breath away"
By Editorial Board, Published: September 15
FOR SEVERAL weeks, weve been asking Republican presidential nominee Mitt Romney to explain how he can cut taxes, as promised, without adding to the nations debt, as also promised. Now hes effectively let the cat out of the bag: He cant . . .
On Friday, ABCs George Stephanopoulos put the question to the candidate. No, middle income is $200,000 to $250,000 and less, Mr. Romney replied.
But then, the Harvard study shows, the math cant work. His answer? The biggest source of getting the country to a balanced budget is not by raising taxes or by cutting spending, he said. Its by encouraging the growth of the economy.
In other words, we are back to counting on magic to dynamic scoring, the voodoo economics of the Reagan era, the wishful thinking of President George W. Bushs 2001 and 2003 tax cuts that helped turn a surplus into the deficit now weighing the nations economy. Cut taxes and hope the economy grows faster than predicted.
At a time when the nation is already on course to build up a debt so large that interest payments alone will begin to drown us, Mr. Romney wants to reduce taxes further, with it now appears no plan to make up the difference. It almost takes your breath away.
read: http://www.washingtonpost.com/opinions/mitt-romneys-confession/2012/09/15/863d2c14-febf-11e1-b153-218509a954e1_print.html
ProSense
(116,464 posts)Doctor_J
(36,392 posts)they aren't really lying. The fact is they don't have a clue about how the economy works. They are just reciting the teabaggers' mantra, knowing that dupes and shills like Stephanopolos and Cable "News" and the Hate Radio won't contradict them. Ryan is a sociopath who's never made a dime that wasn't from the taxpayers, and Rmoney is a vulture capitalist who used government handouts and criminal contacts to ruin the american middle class. Neither of them has ever worked a day in his life. They're just spewing the garbage that their followers want to hear.
yellerpup
(12,253 posts)xxqqqzme
(14,887 posts)n/t
Bernardo de La Paz
(48,960 posts)Overseas
(12,121 posts)And Bain's stripping assets from US companies it bought and shipping our jobs overseas certainly didn't "encourage the growth" of the US economy.
FlaGranny
(8,361 posts)that Romney wants to bankrupt the Federal government and turn it over to China. I'm sure the Chinese politicians work cheaper.
bigtree
(85,977 posts). . . there's not much I'd put past him doing out of political expediency or opportunism; likewise with any scheme which enhances his personal wealth. That's just from the visible evidence . . .