In short, they are looking to reduce the tax rate by 20%, and yet they also claim that the total amount of tax revenue collected will not change. The article goes on to mention some ways in which the pair has planned on achieving both of these goals, but there seems to be many questions that need to be answered. What are your thoughts on this proposed tax plan? How do you think they would account for the shortfall that the article mentions if this plan was implemented?
ReplyDeleteBy changing taxes Mitt Romney and Paul Ryan are making big changes in fiscal policy. These policies have the ability to affect everyone in America. By not fully explaining their tax methodology they are lacking transparency. Using the excuse of not having enough time is simply unacceptable. American has the time to listen to how a potentially new tax plan will work. It seems as though by not explaining it fully, they are attempting to hide details. Bottom line, Americans should know what their government is planning and yes, we do have the time to listen.
Unfortunately, large portions of America will simply lose interest when (and if) the details of this tax-plan are ever fully explained. "Fiscal Illusions" like that of our text from Vito Tanzi illustrate that with increasingly complex proposed legislation, Americans quickly lose interest and are lost in the headings of supposed policy measures. I think it also may say something, that this is one of the first time's we've seen Ryan pressed on concrete issues within his running. For the most part, he has been kept out of the public eye, aside from broader, more overarching speeches where surface political-rhetoric is the only topic discussed.
ReplyDeleteThe arithmetic behind these proposed cuts is incredibly important to have written out. If the Romney administration has a definitive plan for making these cuts work, and restoring tax to prior 'loop-holes' enjoyed by the wealthy--now is the time to be completely transparent. There is no reason they cannot divulge the details of their plan on a website, or in an interview. I think it says something about their rhetoric versus reality... that they are consistently unable to break-down the details of their plans.
As Romney is slipping in the poles, now would be the time to come with some big, concrete plans for why we as a nation should choose him. As of now, his lack of transparency, coated with political rhetoric is too hard(unrealistic) a pill for many to swallow.
I agree with Bianca in saying that the lack of explanation of these new taxing policies makes it seem as if there is something to hide. I also was confused on why he was saying there is no cost to implementing this tax cut, and how there was not enough time to explain why there would be no cost. Tax cuts seem great to me, but in this interview and article, it seems to good to be true. If they so strongly believe that these tax cuts will work, where's the proof?
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