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In debate, Romney fibbed and got away with it
The idea behind the failed policy of trickle down is that you give the rich a tax cut and they invest the money wisely and give the rest of us jobs ("Battle is joined over jobs, taxes," Oct. 4). And the economic growth balances the budget. Didn't work well under Ronald Reagan or George W. Bush, who both doubled the deficit (not to speak ill of Mr. Bush's wonderful job on the economy). But Mitt Romney in the debate added a novel twist. Under his "plan," the rich get lower tax rates, but pay the same amount in taxes because Mr. Romney will close loopholes. Then they invest the rest of the money in the economy and create jobs. What money? If they pay the same amount, there is no extra money left! But then the whole reform is a waste of breath. If everybody pays the same, why reform at all?
October 5, 2012