Paul Ryan: I don't have time to explain our tax plan.

[Pinocchio Liberal 268]

Obama kept repeating this number last night. $5 trillion, $5 trillion, $5 trillion.

Romney called him on it - there is no $5 trillion cut according to him.

And Obamabots will continue repeating it.

[Mr. Big Dog 10,747]

Obama kept repeating this number last night. $5 trillion, $5 trillion, $5 trillion.

Romney called him on it - there is no $5 trillion cut according to him.

This is the point Romney and Ryan have been dancing around. They acknowledge that reducing the rates will require offsets to remain revenue neutral. They refuse to either validate the quoted revenue impact of the proposed rate cut or specify what that impact is. The reason why is because they cannot demonstrate how that revenue can be made up with offsetting measures without rasing taxes on lower and middle income families. They can't present their tax plan because it would cost them the election.

[Obama 2012 1,714]

This is the point Romney and Ryan have been dancing around. They acknowledge that reducing the rates will require offsets to remain revenue neutral. They refuse to either validate the quoted revenue impact of the proposed rate cut or specify what that impact is. The reason why is because they cannot demonstrate how that revenue can be made up with offsetting measures without rasing taxes on lower and middle income families. They can't present their tax plan because it would cost them the election.

Romney was right about one thing last night though, and that is if the economy were to start growing again and more and more people are employed, then the revenue stream would start flowing in.

The US Government made more money in 2007 than at any other year in history. Look at the unemployment rate in 06/07 only to see why. The jobs were there, and boy were they big time.

If the US government were to stop all new spending and move around current dollars out of defense spending/cut some of those same dollar as well, we could easily start wearing away the deficit.

Now the second key to this is that congress MUST and I mean MUST pass a budget/tax code that will be in place guaranteed for 2+ years. If we keep going with 6 month extensions or less, the economy is not going to grow like it should.

[I AM NOT THAT GUY 5,715]

Romney was right about one thing last night though, and that is if the economy were to start growing again and more and more people are employed, then the revenue stream would start flowing in.

The US Government made more money in 2007 than at any other year in history. Look at the unemployment rate in 06/07 only to see why. The jobs were there, and boy were they big time.

If the US government were to stop all new spending and move around current dollars out of defense spending/cut some of those same dollar as well, we could easily start wearing away the deficit.

Now the second key to this is that congress MUST and I mean MUST pass a budget/tax code that will be in place guaranteed for 2+ years. If we keep going with 6 month extensions or less, the economy is not going to grow like it should.

Senate hasn't passed a budget in three plus years. Reid's plan is no plan.

http://www.politifact.com/new-jersey/statements/2012/sep/12/leonard-lance/congressman-leonard-lance-claims-us-senate-has-not/

Edited October 4, 2012 by The Patriot

[Mr. Big Dog 10,747]

Romney was right about one thing last night though, and that is if the economy were to start growing again and more and more people are employed, then the revenue stream would start flowing in.

Yes, naturally. But when you build the proposed revenue neutrality on such assumptions, then revenue neutrality suddenly hinges on that which may not materialize.

If the US government were to stop all new spending and move around current dollars out of defense spending/cut some of those same dollar as well, we could easily start wearing away the deficit.

Yes, but Romney clearly states that he wants to increase defense spending by $2 trillion dollars over the next decade. So that's a non-starter for him to balance the budget.

Now the second key to this is that congress MUST and I mean MUST pass a budget/tax code that will be in place guaranteed for 2+ years. If we keep going with 6 month extensions or less, the economy is not going to grow like it should.

I agree completely. There needs to be certainty. Tax rates are less important than stability.