Mitt Romney: Deficit Increaser (Part 2)
Back in June I did the first of what I thought would be just one post on how, in spite of his rhetoric and promises to the tea party wing of the GOP, Mitt Romney's policies would increase the deficit. That post was just about military spending.
I really wasn't planning to do more, but when I received a six-page fundraising letter from the Romney campaign yesterday i which Romney pledges to do a steady series of things that will increase the deficit -- or at least will increase the deficit unless there are offsetting spending cuts that aren't hinted at let alone mentioned -- I realized I had no choice but to go on.
So on top of the Romney-proposed increases in Pentagon spending, here are his additional (substantial) deficit increase plans:
1. An across-the-board 20 percent reduction in "marginal individual income tax rates"
2. A reduction in the federal corporate income tax rate from 35 percent to 25 percent
3. Maintaining the current 15 percent tax rate on capital gains and dividends
4. Eliminating the tax on capital gains and dividends for those with incomes below $200,000 a year
5. Repealing the alternative minimum tax
6. Eliminating the estate and gift tax
7. Repealing health care reform
This has to be said as directly as possible...If you care about the federal deficit and national debt, Romney isn't your guy.