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Originally Posted by Relentless
Obama rightly pointed out it is in fact 5 trillion less revenue, and Romney can counter any time he wants by clearly identifying X for us. Until he does, he owns the 5 trillion in lost revenue he has promised and gets no credit for X which he has failed to solve. Obama did say some disingenuous things last night for sure, but this was not one of them.
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"OBAMA: "Independent studies looking at this said the only way to meet Gov. Romney's pledge of not ... adding to the deficit is by burdening middle-class families. The average middle-class family with children would pay about $2,000 more."
THE FACTS: That's just one scenario. Obama's claim relies on a study by the Tax Policy Center, a Washington research group. The study, however, is more nuanced than Obama indicated.
The study concludes it would be impossible for Romney to meet all of his stated goals without shifting some of the tax burden from people who make more than $200,000 to people who make less.
In one scenario, the study says, Romney's proposal could result in a $2,000 tax increase for families who make less than $200,000 and have children.
Romney says his plan wouldn't raise taxes on anyone, and his campaign points to several studies by conservative think tanks that dispute the Tax Policy Center's findings. Most of the conservative studies argue that Romney's tax plan would stimulate economic growth, generating additional tax revenue without shifting any of the tax burden to the middle class. Congress, however, doesn't use those kinds of projections when it estimates the effect of tax legislation."
If simpler tax legistlation stimulates growth, (which it always does), then tax revenues to the government will rise due to more people paying more income taxes.
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