It sure would be great if Mitt Romney and Paul Ryan would reveal their Unified Tax and Health Care Plans. So far, however, we merely have some rough ideas–and Promises–as to the Taxes that Mr. Romney would cut; but, not a word about the offset–how he would pay for them. He claims that his Plan would be “Revenue Neutral”. So, show us!
As you can see, Romney’s basic Cuts were developed in February; but, six months later, the other half of the equation is still an Empty Slate. The basic summary is linked as follows: http://crfb.org/sites/default/files/Primary_Numbers_–_Romney_add.pdf.
So far, the R & R Team’s rhetoric has suggested that reducing the taxes on the Top Income Earners would “trickle down” to the rest of us. That’s a common Republican theory–that has never been realized. We heard this when George W. Bush’s Administration lowered taxes on those at “The Top” several times. But, that merely eradicated the Budget Surplus from the Clinton Years and produced successive Deficits.
And, of course, that led to the Great Recession, which began in 2007 and officially ended in early 2009. As always, the Pain lingers on–as it always does with deep recessions.