The tax plan of Romney is Nebulus.

The tax plan of  Romney is Nebulus.

Obama’s plan is more of the same.   What Obama did may have been good at the time, but more of the same plan will cause America to fail.

Romney suggested that the cornerstone of his economic plan was energy independence.   That could work.  Recent oil discoveries in the USA could free the US of the need to spend large sums of money on foreign oil.  It could make gasoline and heating oil prices fall.  The trade deficit would lessen.   Coupled with the enforcement of fair trade and monetary policies with China, the USA could close the gap with exports.

That would work, somewhat.

Romney said that the top 5% pay 60 percent of the taxes.  What he didn’t say was that the top 5% own 60% of the wealth.  Because the wealth of the top 5% isn’t needed for food, shelter, clothing, education, transportation and other necessities, the top 5% can invest the vast majority.  The top 5% have it easy.  The top 5% don’t have to pay a much lower percent of their income to property taxes, social security taxes and sales taxes.  The top 5% must pay more.  The top 5% proportionately own 6o% of the 16 trillion dollar national debt.  The top 5 own ten trillion of the national debt.  They better not leave the country!

The top 5 must pay more in taxes, a lot more.   The 90% rate of past years, however, is too high.

 

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