Will Mitt Romney's purposed tax cuts indirectly add to the National Deficit?
He says it will not, Obama says it will, who is right?
Please list sources.
- 8 years agoFavorite Answer
By definition, tax cuts add to the deficit. Romney claims he will offset this by closing loopholes, but he won't say which ones. Even if you close all the loopholes the rich enjoy, it won't make up the difference, so eliminating tax breaks for middle class and poor families MUST be part of his math if we are to believe his claim of a "deficit neutral" tax cut. So either the tax cut would need to be much smaller, or he would eliminate tax breaks for the poor and middle class, or it would add to the deficit. It must be one (or more) of those three, but he is claiming otherwise, in the face of all logic. He's smiling while saying "1-5=0." It's like debating a pre-schooler. The pre-schooler isn't going to admit to being wrong. He doesn't even care.
It is critical to find out the details of his plan if we are supposed to judge its validity, but he's not giving any details. Either he's hiding something that would be unpopular, or he's outright lying about what his plans are.
- Susan MLv 78 years ago
In general, properly targeted tax cuts will lead to a growth of GDP (gross domestic product). This leads to more goods, services and more/better jobs to be taxed.
But, in the real world, we have a government that has grown so huge and impacts everything. Maybe there is no longer any way out of this mess. Taxing won't get us out. They can tax until we only have dirt to eat.
- Anonymous8 years ago
When tax revenue drops, the deficit increases.
- 8 years ago
According to those who have run the numbers, both conservative and liberal, it will add to the deficit. The only point they disagree on is how much.
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- RonaldLv 68 years ago
Romney is right . to do it he will cut every damn thing he needs to , we will be drinking poison and pis# if he has his way . he will sell our nation forest and anything else to do it. but he will give tax cuts to the rich and corporations. the south will assure it will happen.
- jpayne1324Lv 58 years ago
Directly add to the deficit.
- FireballLv 48 years ago
Let's watch the News or find an article where economists are working out the data, and making it available and understandable by the common folks?
- Gone UnderLv 78 years ago
Hmm. I distinctly heard Romney say 'tax' cuts would be tied to revenue. Gees.
- lacroix757Lv 48 years ago
it will. his 5 trillion in not allowing tax expemption is not feasible. it does mathematically add up. period.