[citation][nom]sykozis[/nom]You guys seem to miss 1 major issue here. Romney talks about cutting taxes, yet at the same time talks about increasing spending. Can someone explain to me exactly how you can reduce tax revenue (which means the government will have LESS MONEY TO SPEND), increase spending and still reduce the national debt. I'm no math major, but the last I checked the less money you have coming in, the less you have to spend without INCREASING DEBT.... And where exactly has Romney outlined his plan to fix the economy? All I've heard from him is "20% tax cut across the board".... Mathematically, it's impossible to reduce revenue, increase spending and reduce debt at the same time.Some people need to lean a bit about economics.... This is simple economics 101.... less revenue + more spending = more debtYes, Romney is a businessman.... If you consider someone that buys profitable companies, immediately fires employees (hiring back a small percent of former employees at reduced wages), borrows money against the companies, then bankrupts them....a businessman.... Sounds to me like he's a typical rich, greedy bastard that only cares about his own pocket and nothing else....[/citation]
Simple explination is that by lowering taxes across the board (among the other changes he wants), will allow business to open or expand. Meaning more people at work and able to spend non-government money.
Lower taxes + more taxpayers = MORE revenue
Lowering taxes means people will have more money to spend and as they spend it, companies will need to increase production to meet the demand. Meaning more jobs and the economic circle goes round and round.
Raising taxes has the opposite effect, people have less to spend, which drops product demand, which means lower production needed = less workers needed. Less workers = less revenue from the higher taxes.
Also, corproations do NOT pay taxes. Regardless of the tax rate imposed on them, they just pass that onto customers as part of the price of their products. Raise corporate taxes = HIGHER prices for us. Same goes for the CEO's and other corporate officers, they will just give themselves a raise to cover the increased taxes and the company will raise prices to cover the increased operating costs.