TAXES and SPENDING
Governor Romney proposes a permanent, across-the-board 20% cut in marginal tax rates to stimulate entrepreneurship, job creation and investment. He would maintain current tax rates on interest, dividends, and capital gains for taxpayers with an income > $200,000 and otherwise eliminate them. He also proposed eliminating the Death Tax, and repealing the Alternative Minimum Tax.
He believes we have a moral imperative not to spend more than the government receives in revenues. His goal would be to reduce federal spending below 20% of GDP in his first term. If elected, on day one he would send Congress a bill to cut non-security discretionary spending by 5% across the board. He also plans to pass the House Republican budget proposal rolling back President Obama's government expansion by capping non-security discretionary spending below 2008 levels.
To accomplish the desired spending reductions he would attempt to repeal Obamacare, privatize Amtrak, reduce subsidies for the National Endowment for the Arts and Humanities, eliminate Title X Family Planning Funding, and reduce foreign aid. He would also empower states to innovate, reduce waste and fraud, align federal employee compensation with that of the private sector, repeal the Davis-Bacon Act, which forces the government to pay above-market wages, reduce the federal workforce by 10% via attrition, and consolidate agencies and streamline processes (www.mittromney.com).
President Obama cut taxes for middle class families and small businesses. He has asked Congress to reform the tax code to close loopholes for millionaires, as well as hedge fund managers, private jet owners and the oil companies (www.barackobama.com).
In March, 2010 the President signed the Affordable Care Act (Obamacare) into law, which includes several tax provisions. These new taxes, to help cover the added expense of covering an additional 34 million people, include a 3.8% tax increase on investment income and a .9% tax increase on Medicare payroll tax for individuals who earn more than $200,000 per year. These taxes may not take effect as planned in 2013 depending upon the Supreme Court ruling, which is expected in June, 2012.
The President also proposed the Buffet Rule - a minimum tax rate of 30% on individuals making $1 million or more, which would impact .3% of all taxpayers. However he admits that the Buffet Rule would do little to close the annual deficit. President Obama established the Simpson-Bowles commission in 2010 to identify policies to reduce the federal deficit. The House rejected the commission's proposals in March 2012, intended to reduce the deficit by $4 trillion over the next decade, as GOP leaders resisted tax increases while leading Democrats resisted cuts to social programs.
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- Leadership Captain America is portrayed as a consciencious objector to the war in Iraq in this satirical image where he protects "the enemy".
- Recharge this Union Based upon the presidential seal, this image urges us on to emrace alternative energy as a viable and stimulating part of the economy.
- Time has Run Out End war.
- Call Before You Dig American Gothic, superhero style.
- Camel Beats Flash The fastest human alive has been compromised by the effects of second-hand smoke.
- Keep America Safe Safety can be defined in many ways, here's one that may not be the first thing to spring to mind but is certainly valid in these modern times.
- Sunflowers Made from a mixture of household items and candy, these sunflowers bring a whole new meaning to the word recycling.
- Life Support Green.
- Pinecones Brown.
- Sweet Butterfly My daughter, Chloe and my wife, Julie made this one together.
- Sweet Smile Julie made this one. My son Jack helped with the Photoshop work.