Romney’s Lack Of A True Tax Plan

Posted on October 16, 2012 Updated on October 17, 2012

I write this just hours before the second Presidential Debate. As I write this, Romney is pulling slightly a head of President Obama in the polls. Given the plus/minus ratio, President Obama has not only lost his lead, he is effectively tied with Mitt Romney. This is without Romney releasing more than two years of his taxes, with Paul Ryan still dazed by his debate loss to Vice President Biden and without the Romney/Ryan team releasing a full and complete tax plan.

The latter of these is my greatest concern. You can’t cut $5 trillion out of Federal revenues without cutting the Federal budget severely. Period.

Romney/Ryan aren’t stating what will be cut. They aren’t detailing what loopholes they’re going to close. Will they take away the mortgage deduction? Early in his campaign, Romney said he would for families earning more than $250,000 but that didn’t go over well, so his team backed off as quickly as they mentioned it.

The only spending cut Romney actually promotes is the $444 million spent each year on public television. That’s less than a percent of our spending – big savings there. But, he’s talking about cutting $5 trillion in taxes. To leave the deficit as is, $5 trillion will have to cut from our spending and what should be cut?

You can’t cut defense. In addition to the welfare of our country, there are economic issues to consider. We spend less in defense, defense companies lay off employees and unemployment rises.

What about infrastructure? That has to be ruled out. Our nation’s roads, bridges and other structures are in the worse shape. We have been neglecting the majority of our infrastructure (exception is Wisconsin).

There are other programs. Romney wants to eliminate the Department of Education, that would be a huge savings and a very bad idea. We need to educate our nation’s youth, not throw them aside like yesterday’s news.

I’m just throwing ideas out here, because Romney/Ryan certainly never give us any.

Be warned: the great state of Wisconsin elected Scott Walker after he promised to lower taxes and create 450,000 jobs in his first four years. So, far, Walker has cut some taxes (mine haven’t dropped any), cut Education spending in the state and the unemployment rate – after a slight drop – is 7.5%. This isn’t the highest it has been under Scott Walker, but it is back on the rise.

In New Jersey, where Christie reigns, their unemployment is 9.9% – higher than the Nation’s. If the economy is what you care about, then Romney’s policies are not what you want. They aren’t working on the state level (cut taxes, cut spending ) and they won’t work on the national level.