Reply to What happens to families earning over 200k a year under Obama vs Romney, Results are SHOCKING

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[quote=Freeman]You do realize that according to the article you linked, Romney has also stated he plans to reduce tax breaks and deductions for high income filers to pay for his other tax cuts, right? Of course, he hasn't specified which ones, how they would be implemented, or any of the other details that would make it possible to actually do an accurate analysis of his plan. IMHO, that's because he really has no intention of reducing tax breaks for wealthy people, but either way, your scenario is possibly under either candidate, making it a wash.

As for capital gains, since 2004 they have been at the lowest rate in history. How's the economy working out for you under that scenario? Raising the rate to levels it held for decades during which the economy prospered doesn't strike me as nearly as frightening as you make it out to be.

For me, personally, I'll likely pay a little more under the Obama tax plan. I'm fine with that, since I believe that our tax rates cannot be sustained at the currently record low levels without severe decreases in spending, which no one(Democrat or Republican) seriously wants to consider.(Yes, many give lip service to spending reductions, until they are asked to reduce the portion of spending that benefits them) The Romney plan, or the parts that they've actually been willing to share, would cut my taxes, leave everything else the same, and somehow magically fix everything with the economy and deficit. That doesn't instill me with confidence, particularly given the trends I've seen in Republican policies lately.[/quote]

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