Friday, November 16, 2012
Democrats Are Now Pushing Mitt Romney's Tax Idea....
Now Democrats are saying there is "renewed interest" in a hard cap of as much as $35,000 on deductions, which could allow for significantly higher taxes to come in from rich filers, without officially raising their tax rates. (The President has previously proposed a cap based on the percentage of income tax paid, but that has never gone anywhere in Congress.) The big difference between Romney's cap and the Democrats potential thievery of it, is that he wanted to use it as a trade-off for cut taxes for everyone. The Senate Democrats may just use it as an alternative to raising tax rates.
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