October 12th, 2012
07:58 AM ET
9 years ago

The facts behind Romney's $5 trillion tax plan

New York (CNNMoney) - Mitt Romney promises to pay for his $5 trillion in proposed tax cuts so they don't add to deficits - and would do so in large part by curbing tax breaks on the rich.

He also has promised not to raise taxes on the middle class.


Filed under: 2012 • CNNMoney.com • Mitt Romney • Paul Ryan • Taxes
soundoff (41 Responses)
  1. cali girl

    Lies Lies Lies, yeah, Lies, Lies Lies yeah.
    Sheriff of Nothingham and his sidekick Eddie Munster want nothing better than to take from the poor and give it to their fat cat friends.

    October 12, 2012 12:16 pm at 12:16 pm |
  2. luke,az

    The issue is about trust. No way do I trust a rich guy to look after my interests, but to only enrich himself and others like him. I DO NOT TRUST GOV ROMNEY. He and Ryan are lying and flip-flopping as fast as they can at this point. By the way, show us a total of 10 years of tax returns, what are you hiding Gov Romney ?

    October 12, 2012 12:30 pm at 12:30 pm |
  3. ThinkAgain: Hey, networks, fact-check the debates in real-time and put it in the crawl!

    On Tuesday if Mittens says that he knows how to work in a bi-partisan way because he passed legislation as governor of Massachusetts working with Democrats in the state houses:

    President Obama needs to remind voters that the reason why this happened is because Democrats know how to work across the isle and build consensus. President Obama hasn't been as successful at working across the isle because Congressional and Senate Republicans made making Obama a one-term president their highest priority and have done EVERYTHING to obstruct and delay.

    Time to put an end to these Repub lies! American voters with brains that actually work can see through all the BS Mittens 'n' Munster have been shoveling – time to call them out, Mr. President!

    Obama/Biden 2012 = The only sane choice

    October 12, 2012 12:30 pm at 12:30 pm |
  4. ThinkAgain: Hey, networks, fact-check the debates in real-time and put it in the crawl!

    Mittens 'n' Munster's number don't add up .... GHW Bush had a phrase for this: voodoo economics.
    Failed then, fails now.

    Obama/Biden 2012 = The only sane choice

    October 12, 2012 12:30 pm at 12:30 pm |
  5. ThinkAgain: Hey, networks, fact-check the debates in real-time and put it in the crawl!

    If Mittens brings up that nonsense again about the "6 studies" that support his plan, President Obama needs to remind voters that what he's referring to aren't studies, they're opinion pieces!

    Look it up, if you don't believe me ...

    Obama/Biden 2012 = The only sane choice

    October 12, 2012 12:34 pm at 12:34 pm |
  6. ThinkAgain: Hey, networks, fact-check the debates in real-time and put it in the crawl!

    Munster spoke for 40 or the 90 minutes in last night's debate and told at least 24 lies during that time. Among the biggest whoppers:

    – Mittens 'n' Munster tax plan would provide a 20 percent, across-the-board tax cut without adding to the debt or raising taxes on the middle class (according to the Tax Policy Center, that is mathematically impossible)

    – Somehow President Obama has weakened/endangered our relationship with Israel (President Obama is on excellent terms with Bibi Netanyahu and Israeli Defense Minister, Ehud Barak has said, “I can hardly remember a better period of American support and backing, and Israeli cooperation and similar strategic understanding of events around us than what we have right now.”

    Folks, if you want to vote for two guys who lie and are trying to sell you on economic, military and foreign policies that are PROVEN FAILURES – and who want to take us to war, then vote for Mittens 'n' Munster.

    If you want to continue the 31 straight months of private sector job growth, the return of our troops, investment in OUR country and effective elimination of our enemies (I'm looking at you, bin Laden/al Qaeda), then vote for Obama/Biden 2012.

    October 12, 2012 12:41 pm at 12:41 pm |
  7. ThinkAgain: Hey, networks, fact-check the debates in real-time and put it in the crawl!

    @Four and The Door: "Oh how Obama/ Biden 2012 hates tax cuts. But the numbers do work, several different ways. And they do help get the economy back from it's dismal 1.3% growth where unemployment stays high and wages stay low. Bottom line, Mitt Romney and Paul Ryan have worked out a plan for economic growth driven by the private sector where it needs to be and this clashes with Obama's philosophy of big government."

    Really, they've "worked it out"? Then why don't they take the time to explain the math to voters? And why does the Tax Policy Center say that their budget is "mathematically impossible"?

    Four, try doing some research and consider letting go of your delusions...

    October 12, 2012 12:45 pm at 12:45 pm |
  8. Deb in MT

    Oh! i get it now!

    The Romney/Ryan economic plan in a nutshell:

    Divide the square root of -1 by zero, then multiply the result by..UNICORNS!

    It's all so clear, now.

    October 12, 2012 12:57 pm at 12:57 pm |
  9. Pete

    @four and the door,obviously you don't know zilch about math because it doesn't add up unless you add an additional 12 million jobs but as usual try getting that number jobs without the governments help..Nice try and if I were you is change your meds,you're not thinking straight that Romney,Ryan know anything,completely ignorent and off your rocker bud as usual!!

    October 12, 2012 01:03 pm at 1:03 pm |
  10. ThinkAgain: Hey, networks, fact-check the debates in real-time and put it in the crawl!

    Google "Leon Cooperman" and read about how this hedge fund manager and his uber-rich cronies are whining about the prospect of having to pay a little more in taxes.

    In a recent study, economists Emmanuel Saez and Thomas Piketty found that 93% of the gains during the 2009-10 recovery went to the top 1% of earners. The top 0.01% (which includes Cooperman) captured 37% of the total recovery pie: their incomes rebounded more than 20%, which amounts to an additional $4.2 million each.

    Mittens 'n' Munster want to cut programs and funding that help the most vulnerable among us to give YET ANOTHER TAX CUT to the likes of Cooperman!

    If you think it's time to invest in the Middle Class – the engine of our economy – and ask the super-rich to start paying their fair share (knowing that, all their whining aside, they will still be super-rich at the end of the day), then vote for President Obama, VP Biden and Democratic majorities in the House and Senate.

    Obama/Biden 2012 = The only sane choice

    October 12, 2012 01:04 pm at 1:04 pm |
  11. Gurgyl

    Not true., lies.,

    October 12, 2012 01:13 pm at 1:13 pm |
  12. anonoymous

    The numbers do work....guess romney and ryan told only you what the plan is cause the rest of us dont have a clue. Indp who is not loyal to a party and i cant see why any republican could be fooled by or support such a dishonest pair. Obama 2012

    October 12, 2012 01:22 pm at 1:22 pm |
  13. rs

    truth hurts-
    The only reason the Bush tax cuts for the obscenely rich got extended is that the Republicans in Congress refused, REFUSED to vote on a separate tax cut for the middle class if the tax cuts for the richest 125,000 families in America weren't extended.The Bush tax cuts were suppossed to be temporary- until the budget surplus (left by Clinton) vanished. Well it is gone, and GOP spending hs built $trillions in debt. The GOP has become this nation's worst enemy.

    Face it- we can no longer afford to pander to the rich- it doesn't create jobs, and all it does is build the deficit.

    October 12, 2012 01:58 pm at 1:58 pm |
  14. Dominican mama 4 Obama

    Observing from A Distance

    If you good American folks are stupid enough to put these two lying carpet baggers into office(Romney And Ryan)....you deserve everything you get...depression, recession, the plague, pestelance and god forbid servitude to China...and I guess the rest of the world can wait for China to take over the reins and the ancient biblical quote about the yellow race shall inherit the earth will have come to fruition.......oh and by the way you are going to need lots more flags to bury your youth in because you will be at war in the middle east until the arabs have killed all the infidels.....oh in case you didn't know that's you guys
    How right you are sir/madam, how very right you are.
    If I were you I'd continue to observe from a distance because there are those stupid enough, hateful enough, racist enough, willfully ignorant and partisan enough to elect these corporate puppets, and then it will be too late for those of us unfortunate enough not to be observing from a distance.
    Obama 2012. Seriously America.

    October 12, 2012 02:11 pm at 2:11 pm |
  15. Alex

    The math doesn't work people and I'm a republican...I will vote for Obama come November. Funny math doesn't get the country anywhere!

    October 12, 2012 02:41 pm at 2:41 pm |
  16. Blinded by the republican lie

    That's an experiment I don't even want to try...I can see it now...they will tell you not raise taxes on the rich, but through the back door watch them hit us with our mortgage interest...What I see is so transparent and so sneaky. Vote like your body and life depended on it. Keep Robme and lyan Ryan away from the White house!! Obama/Biden 2012

    October 12, 2012 03:00 pm at 3:00 pm |
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