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Posted October 22, 2012 | comments 5 Comments

Letter to the Editor: Replace Obama

Editor:

Our economy is in serious danger if things don't change soon. The current foreign policy is falling apart around the world. It is time to elect a true leader who will:
• Promote energy independence by making the use of domestic resources easier.
• Help Americans develop skills to succeed in business by education reforms that improve the ability of teachers to teach and children to learn.
• Focus on trade that works for America by making it easier to export products.
• Cut the deficit by cutting spending.
• Champion small business by reducing taxes and regulations, thus making it easier for businesses to hire.
• Implement a foreign policy that will strengthen our military to deter war by a show of strength.
• Improve our missile defense system.
• Improve our ties with our allies.
• Take care of our wounded military personnel and veterans.
• Create a smaller, smarter, simpler government by reducing the size of the federal government and getting our fiscal house in order.
• Cut regulations.
• Implement a fair tax code.
• Strengthen the economy by cutting corporate tax rates that stifle job creation and goods production.
• Reform and preserve Social Security and Medicare without hurting those who qualify for them now and in the future.
• Ensure that American laws reflect America's values of preserving life, including that of the unborn, at home and abroad.
• Will appoint an attorney general who will defend the Defense of Marriage Act and champion a Federal Marriage Amendment to the Constitution that defines marriage as between one man and one woman.
• Will be a leader who leads, and does not blame others for his mistakes.

President Barack Obama's policies have failed. It is time to replace him with a president who will implement policies with a proven track record of success. It is time to replace him with Mitt Romney. It also is time to elect George Allen, re-elect U.S. Rep. Bob Goodlatte, U.S. Rep. Frank Wolf, and other leaders who will support George Romney in his policies.

L. John Bost, Strasburg

5 Comments | Leave a comment

    Talk is cheap. The truth is something else:

    http://www.realityisfree.com/wanted.html

    Do you mean Willard "Mitt" Romney, the flip-flop-flipping lying sack of lies who begs us to 'trust him' until after the election? You remember Ronald Regan's famous quote, "Trust, but verify"?

    I am still waiting for Romney (pick-a-number-any-number) to verify his economic plans, his tax plans, his jobs plans, his women's health care plans. Until he does, I wouldn't trust him to walk my dog.

    There is one too many holes in Romney's bucket. This Washington Post Editorial proves it:

    http://www.washingtonpost.com/opinions/the-hole-in-mitt-romneys-bucket/2012/10/20/fa25ddae-1a28-11e2-bd10-5ff056538b7c_story.html?wpisrc=nl_cuzheads

    THE EVIDENCE continues to mount about the implausibility — make that the irresponsibility — of Mitt Romney’s pick-a-number-any-number tax plan. In his latest non-answer to how he would make up the $5 trillion budgetary hole he proposes to dig by lowering marginal income tax rates 20 percent and cutting other taxes, Mr. Romney has said he might not press to eliminate or curtail specific deductions or credits. Instead, he has suggested, taxpayers might be given a maximum amount to use for deductions as they saw fit.

    “One way of doing that would be, say everybody gets — I’ll pick a number — $25,000 of deductions and credits, and you can decide which ones to use,” Mr. Romney said in the second. “Your home mortgage interest deduction, charity, child tax credit and so forth, you can use those as part of filling that bucket, if you will, of deductions.” At other times, Mr. Romney has thrown out other possible bucket sizes — $17,000, perhaps, or $50,000. There’s one big flaw in Mr. Romney’s bucket, however: it would not bail enough money into the tax system.
    On the plus side, the notion of what would essentially be a new, super-sized deduction to take the place of itemization is appealing to economists. As Roberton Williams of the Tax Policy Center points out, “it would raise revenue in a highly progressive way,” because the wealthiest taxpayers would experience the biggest hit. Wealthier taxpayers are more likely to itemize deductions, claim far more in itemized deductions and, because of the progressive rate structure, obtain more benefit from each individual dollar of deductions. If itemized deductions were capped at $25,000, 90 percent of the revenue raised would come from those in the top 20 percent. Half would come from the top 1 percent.

    Here’s the problem, though: The revenue raised even from the stingiest of Mr. Romney’s proposed caps, $17,000, would not come close to replacing the money lost from lowering rates 20 percent and making the other tax changes he proposes. Indeed, according to the tax center, eliminating all itemized deductions would raise $2 trillion of revenue over 10 years — leaving roughly a $3 trillion shortfall. Capping deductions at $17,000 would raise $1.7 trillion; at $25,000, $1.3 trillion, at $50,000, $760 billion. Of course the flip side of the lower cap is that, while raising more revenue, it would pinch more of the middle-class families Mr. Romney has pledged to shield. For example, the tax center analysis shows, even with his proposed reduction in marginal rates, 61 percent of households earning between $100,000 and $200,000 annually would see their overall tax bills rise with a $17,000 cap on deductions. The average increase would be $2,205.

    And remember: That cap would still not raise enough revenue to fill the hole Mr. Romney proposes to dig. The Romney campaign responded to the Tax Policy Center analysis not by disputing the figures but by criticizing the center for having the cheek to analyze Mr. Romney’s ideas.

    Mr. Romney “has only suggested that capping itemized deductions is one option that could be explored, and there are others,” economic policy director Pierce Scranton said in a statement posted on the campaign Web site. “TPC has erroneously taken these illustrations and presented them as the Governor’s actual plan.”

    Well, if he’s got another plan — one that does add up — we’d love to see it.


    Mr. Romney;
    Show me the money!


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