He also wants to reduce taxes on capital gains, interest and dividends because - he says - these reductions will help the middle class. Really? How nice. Mittens, people whose gross income is $50K or so don't have income from capital gains, interest and dividends! Their income is their wages from their shitty job, taxed at the higher ordinary income rate.

He really has no clue, does he? Bet he hasn't been taxed on ordinary income in many years.

Romney lives in rich person's lala land.

Again, who the hell was he talking to?

Just like his comments on tax free investments and capital gains.

He knows nothing about ordinary Americans.

By the election you could get $100,000

You add up mortgage deduction ......... $10,000
State income tax .......... $6000
Property tax .......... $3000

Just these three are .......... $19,000
and there are other deductions that one could take

Every time he brings the 'deduction bucket amount' up to talk about, he adds a thou or two onto the number.

a few years ago at least, the average house price in america was about $300,000. it's higher in some places, like the northeast, but then so are salaries.

so let's say you've saved up $50,000 and now have a $250,000 mortgage. at 5% interest you're paying close to $12,500 interest alone in the first year, plus your property taxes in this area could be another $12,500, believe it or not. that's $25,000 in deductions right there.

now, a $50,000 salary couldn't likely swing that without significant savings or other resources, but then your $50,000 salary in, i'm guessing georgia from the "ga" part of your username, would likely be at least $75,000 or $80,000 in the northeast, so this becomes a little more plausible.



but your point is spot on. "$25,000 in deductions" speaks to the portion of his base who might contribute a few hundred or so to his campaign, not the average debate viewer who's merely deciding whether or not and who to vote for.

it's a fund-raising statistic, not a vote-raising statistic.

itemized deductions. What rMoney isn't telling you is that he wants to cap your total deductions to a certain unspecified figure. That would involve your individual deductions (you and spouse) and dependent deductions both of which reduce your taxable income directly and in much higher numbers.

You can be sure that the earned income credit will be gone as well. That's exactly how he's going to pay for his own new tax rate of 1% along with the rest of fat cats who don't create jobs. He's taking a play out of St Ronnie's book when he gave a tax cut in one hand while stealing the interest deduction on credit cards and loans with the other. That was a huge loss to the middle class.

Like one of his middle class who earn $250,000!

See? It's all good in RomneyLand.

Neither does Ann.

I was hoping Obama would stand up and say, "Who here has EVER had $25,000 in deductions?"

Not to mention the fact that the middle class people Rmoney SAYS he wants to help by eliminating taxes on Capital Gains, the vast majority of them don't HAVE anything that makes Capital Gains. But guess who does have LOTS of money in Capital Gains every year. Oh yeah, that deduction is to help out the middle class. I have a one word response to that notion: Malarkey.

like surgery or home improvements or something. But it definitely wouldn't be a regular occurrence for a middle class person.

That is more than many Americans make in a year.

Turned to hubs and said 'what??' This again proves how out of touch MR is.

Because that is a small fraction of what his own deductions are.

almost all your mortgage payments are interest and therefore tax deductible. Even a $2,000 per month payment, which is not particularly high, is $24,000 per year. Most closing costs in the year you buy the house are also deductible, and they run into thousands. Not to mention the other categories -- education, health care, charitable contributions, etc. A lot of middle-class families are going to exceed the cap.

and people say he isn't giving any details to his tax plan.

Good catch.

Right. Because that's what you get when you buy and sell lots of really expensive stuff too often. Like the 1%.

Fool.

Rmoney doesn't care about us "little people", though -- as long as he and his rich friends get tax breaks, screw us little people. Romney truly lives in his own little world, and it's a frightening one.

First it was $17,000
Then it was $25,000
And then it went to $50,000

He's a dumb fuck, he's NEVER ran ANY numbers. "Those people" do that.