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Thread: Obama vs. Romney on Taxes
07-06-12, 05:30 PM #1
Obama vs. Romney on Taxes
Easy now. I didn't write this.
Both presidential candidates talk about it -- both say they want it. And there's a good chance that the one who wins in November will end up presiding over it.
But neither President Obama nor Mitt Romney has offered a comprehensive plan for how he wants to overhaul the tax code.
Instead they've each made broad statements about what tax reform can achieve. And many of the tax proposals they have offered would work within the current structure of the code.
Obama stresses tax reform as way to achieve greater fairness.
"What drags our entire economy down is when ... the gap between those at the very, very top and everybody else keeps growing wider and wider," Obama said in April while making a case for his proposed Buffett Rule.
Romney stresses tax reform as a vehicle to spur jobs. "We'll replace the Obama job-killing tax policies with sweeping tax reform to jumpstart job creation," he noted in a recent speech.
[Related: Ann Romney and Michelle Obama Face Off]
Both men, meanwhile, have promised to keep rates low for most if not all Americans -- proposals that would bump up the country's deficits considerably.
But they promise to pay for those lower rates by reducing tax breaks, primarily on the wealthy, even though there isn't enough revenue to be had by solely targeting that small slice of the population.
Related: Romney tax plan can't be scored
Stay tuned for more details from Obama and Romney -- hopefully. Until then, here's a rundown on each candidate's key tax proposals so far.
Obama vs. Romney on Taxes - Yahoo! FinanceDo not war for peace. If you must war, war for justice. For without justice there is no peace. -me
We are who we choose to be.
R.I.P. Arielle. 08/20/2010-09/16/2012
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