Twelve years later, Mitt Romney, the presumptive Republican nominee, claims his far deeper tax cuts would have a price tag of exactly zero dollars. He has no intention of submitting his tax plan to the committee or anywhere else that might conduct a serious analysis, since he seems intent on running a campaign far more opaque than any candidate has in years.He has made his economic plan the fundamental basis of his candidacy, and yet with the Republican convention just two weeks away, we know next to nothing of the plan’s details. The extreme cuts proposed by his new running mate, Paul Ryan, are far more hard-edged, making Mr. Romney’s mathematically impossible promises look vague and shopworn by comparison.Read it at The New York Times Sunday Reveiw | Opinion
A Tax Plan That Defies the Rules of Math
By David Firestone
(h/t Mark Thoma)
Oh, and don't ask any questions about Bain Capital either, it's "off-limits."
Tom.I put this in just incase Major_Fredoom or that Rob Roddis show
ReplyDeleteup :)!They should know the basics.
It´s Marx's Theory of Economic Crisis and fallin rate profit.Oh no it´s not presented by any certainly revolutinary guy,is Professor Cliff Bowman,
Professor of Strategic Management at Cranfield Uni.Cliff Bowman is
Professor of Strategic Management wellknown among other things Bowman's Strategy Clock.
http://www.youtube.com/watch?v=-e8rt8RGjCM Marx's Theory of Economic Crisis
ReplyDeleteProfessor of Strategic Management at Cranfield Uni.Cliff Bowman
Tom,
ReplyDeleteThe nyt analysis is completely out of paradigm... it's like the nyt is worried about the deficit and wants to make sure the cuts are really going to be made.... this sounds like Krugman ghost wrote it...
Rsp
The take-away point is that the plan is a "secret plan" so far. Three is no way to determine what is really in it. It's like Nixon's secret plan to end the war, which was to ramp up and carry on a more intensive air campaign. Many people would not have voted for Nixon if they knew what the secret plan actually was.
ReplyDeleteRomney: We're not going to reduce taxes for high-income people.
ReplyDeletehttp://www.cbsnews.com/video/watch/?id=7417928n&tag=cbsContent;cbsCarousel
(~11:00 mark)
Romeny doesn't need to debate Obama, he needs to debate himself and who he was 5 minutes ago.
I'm fascinated.
This looks like very similar to last campaign of the current governing party in Spain. You know what came after that, austerity with big letters (indeed one of the few countries that has really cut down, not just reduced deficit, spending).
ReplyDeleteThings are looking more gloomy each day for 2013-2014.
Right Lev,
ReplyDeleteI heard someone opine if the pick was Gen Patraeus, it would have been militarily enforced austerity. That's now off the table looks like.
But with Ryan, it looks like potentially just the (much weaker) force of a technocratic argument for austerity which at least WE know how to combat so there is perhaps hope.
It would be good to get the military here firmly on the progressive side.
Rsp,
Trixie,
ReplyDeleteI would point out that the last tax cut the GOP pushed through was a $650 per tax payer bottom up (my household did not qualify) tax rebate done by Bush/Cheney in 2008 and it seemed to bite for a while and needed a follow up.
It was not followed up by the GOP later in that election year as McCain went full deficit terrorist on the campaign trail and I dont think Bush/Cheney wanted to undercut McCain right in the middle of the campaign.
As far as Democrats, I dont think folks realize how far the Peterson organization has gotten their hooks into the Democrats over the period of the Obama Admin.
I dont think this aversion to deficits goes back very far. There is the Cheney saying "Reagan taught us that deficits dont matter" but that has been pointed out that Cheney meant that POLITICALLY (not economically).
And in Reagans first term that was correct.
This all started with the "Concord Coalition" (should read "Moron coalition"). Started by that moron from NH Warren Rudman and Tsongas from MA, two idiots. and funded by Peterson I believe. Then Peterson started another organization with David Walker and the moronfest continues...
These morons worked 24/7/365 for now a couple of decades to now MAKE THE DEFICIT MATTER POLITICALLY, via the moron media having them on their shows all the time to rant on about the deficit because the media are morons too...
Its to the point that what Cheney said Reagan taught us didnt matter NOW MATTERS, and Ryan has bought this hook line and sinker because he is too stupid to figure it out that it is all false and impossible mathematically.
Education has to be able to counter this...
Rsp,
it would have been militarily enforced austerity. That's now off the table looks like.
ReplyDeleteMaybe, or maybe not...
DHS has already purchased over 1 BILLION rounds of ammo!
There may be a 'coup d'etat' at work in USA. Not a military coup, but one where the country is being slowly militarized and the wealthy are using the state apparatus for their own machinations along patriotism and imperial wars as ideological weapons. Looks like a slow transformation into a fascist state of affairs by TPTB.
Puzzling part here is how their crusade in the name of deficit reduction and government debt is gonna translate into increasing military spending for imperial adventures and making the USA a police-state. OFC diverting most resources to these industries while cutting big time on social spending.
Leverage Puzzling part here is how their crusade in the name of deficit reduction and government debt is gonna translate into increasing military spending for imperial adventures and making the USA a police-state. OFC diverting most resources to these industries while cutting big time on social spending.
ReplyDeleteAusterity is all about manufacturing a reason to cut social programs, deliver Social Security to Wall Street, which it desperately needs to keep equity markets climbing, privatizing Medicare, and ending Medicaid funding. Those "savings" will then be committed to extending American Empire, the real goal of TPTB.
This is a push for US global hegemony that can never be challenged, ever — which, btw, is already stated US policy.