Sorry, Readability was unable to parse this page for content.
Source: http://www.msnbc.msn.com/id/3036697/vp/49282706#49282706
shld 2012 sec football schedule medifast sinead oconnor braylon edwards jimmer fredette mall of america
Thursday, October 4, 2012
3 Reasons Romney's Tax Plan Makes Sense - Business Insider
Recall the now infamous Tax Policy Center study that guesstimated Mitt?Romney?s tax plan would a) cut taxes for high-income earners by $86 billion in 2015 and thus b) require an $86 billion tax increase on the middle class so as to not increase the deficit.
There have been roughly a kajillion Obama ads based on the TPC study.
But here are three simple reasons, via commentary by AEI?s Alex Brill in The American, on why the whole criticism is fiscal hogwash:
1.?More base-broadeners are on the table.?TPC originally claimed that the Romney plan would raise taxes on the middle class by $86 billion. After?a critique?by AEI colleague Matt Jensen, who pointed out additional opportunities for base-broadening, TPC downgraded its estimate considerably.
Specifically, Jensen pointed out that the exclusion of interest on state and local bonds and the exclusion of inside buildup on life-insurance products could yield more revenue. TPC then acknowledged that repeal of these provisions would raise approximately $45 billion from high-income taxpayers, reducing any need to tax the middle class by the same amount. The result: A purported $86 billion tax increase on the middle class shrinks to $41 billion.
2. The TPC revenue baseline assumption is inflated.?TPC assumed that the baseline against which Romney is seeking revenue neutrality includes a 0.9 percent surcharge on ?earned? income and an additional 3.8 percent surcharge on ?unearned? income of high-income taxpayers that were adopted in the healthcare law. Romney has proposed repealing these taxes, but has not suggested that the cost of repeal would be paid for by tax reform. Instead, the budget effect of repealing these taxes should be analyzed in the context of the repeal of various other healthcare provisions.
Despite TPC?s assertion that adjusting its baseline assumption ?does not alter our primary conclusion,? the revenue consequence of repealing this tax in 2015 is a full $29 billion, all of which falls on high-income earners. Correcting the baseline by removing this provision means that more of the revenue raised by broadening the tax base on high-income taxpayers can be used to finance tax reductions for the middle class.?The result: A $41 billion tax increase shrinks to $12 billion.
3. Even modest economic growth makes a difference.?TPC also misconstrues analysis on the relationship between tax reform and economic growth. Not only does the TPC model assume zero economic growth, but the Center?s analysis (subsequently echoed by many other commentators) points to research?I published with AEI colleague Alan Viard?to argue that economic growth is not possible from revenue-neutral income tax reform. This conclusion is a false interpretation of our research.
An increase in labor supply is one means by which an economy can grow; as Viard and I pointed out, revenue-neutral tax reform is indeed unlikely to yield gains on that front. But tax reform can also grow the economy by encouraging capital formation and promoting the proper allocation of capital across the economy. Romney?s plan will do just that.
Based on Table 3-1 of the ?Analytical Perspectives??report?by the president?s Office of Management and Budget, I compute that if the economy were to grow just 0.1 percentage point faster per year as a result of the reform, the additional revenue in 2015 would be approximately $13 billion. The result: A $12 billion tax increase on the middle class actually becomes a tax cut.
And just like that, the Democrats? attacks that Romney wants to raise taxes on the middle class become false.
Source: http://www.businessinsider.com/3-reasons-romneys-tax-plan-makes-sense-2012-10
ener1 national chocolate cake day epstein joshua komisarjevsky barney frank barney frank rob gronkowski
Wednesday, October 3, 2012
An Afternoon in Verona & an Evening in Venice Everyday Life ...
Sep?tem?ber 22nd Car?o?line and I along with Laura, her daugh?ter Vic?to?ria and a group of ladies from the retreat got up early that morn?ing to meet our dri?ver so he could take us to Venice. Laura planned a stop in Verona so we could each lunch and site see for a bit. She named off some sites she thought we would love to see and sent every?one on their way. To which we all headed in dif?fer?ent directions.
- Pho?tos 1, 2 and 3 are pho?tos I took in the Piazza Bra.?There?s a foun?tain in the mid?dle with?benches and trees. You can get cof?fee and gelato and it has an amaz?ing view of the Roman?Arena.
- Photo 4 is of Juliet?s Bal?cony. The area was super crowded but still cool to?see.
- Pho?tos 5,6, 10, 12, 13 and 14 were taken while Car?o?line and I were eat?ing lunch and after?wards in the Piazza dei Sig?nori also known as Piazza Dante. The archi?tec?ture and detail in this area is amazing.
- Pho?tos 7, 8 and 9 are of the Scaliger Tombs.?The tombs hold the remains of the Scaliger fam?ily, who ruled in Verona from the 13th to the late 14th century.
- Photo 11 is of the Torre dei Lam?berti.
- Pho?tos 15 and 16 are of the Verona Arena.?The build?ing itself was built in AD 30 and is one of the best pre?served ancient struc?tures of its?kind.
After wan?der?ing the streets for a few hours of site see?ing we all got back into our van and headed for Venice.
Venice is so mag?i?cal. There is a vibe of excite?ment and won?der day and night in Venice. The water taxi ride to the hotel seemed so sur?real to me. I never ever thought I would be sit?ting in a boat in Venice with such a won?der?ful group of ladies wait?ing to soak up as much of this city as we could. Venice is beau?ti?ful day and night and cer?tainly gives an entirely new mean?ing to the word win?dow shop?ping. I?ve never seen such amaz?ing win?dow dis?plays in my?life.
- Pho?tos 1, 2, 3, 4, 5, 6, 7 and 8 were all taken while on the water taxi. These two men got a work out for sure putting all our lug?gage onto the boat. I was kinda start?ing to feel badly for them. In the cen?ter of Photo 5 you can see the Rialto Bridge. Photo 8 was taken as we were get?ting off the water taxi at our hotel. We stayed at the Corte Gri?mani Res?i?dence. It was a lovely hotel. Car?o?line and I shared a suite with Laura and her daugh?ter Vic?to?ria and had more than enough room for us?four.
- Pho?tos 9, 10, 11 and 12 were taken in St. Mark?s Square. Oh good?ness is this an amaz?ing place. Laura was so cute as she ran ahead of me and Car?o?line so she could see our expres?sions when we saw Saint Mark?s Basil?ica for the first time. It is jaw drop?ping, eye pop?ping incred?i?ble. Pho?tos do not do this place jus?tice. You have to see it in person.
- Pho?tos 13 and 15 were taken while Car?o?line and I walked around the streets. Photo 13 is of Car?o?line stand?ing in front of the Fer?rari store. We had to get this photo for Noah. That boy LOVES cars. Photo 15 is just one of the many incred?i?ble win?dow displays.
- Photo 14 is of musi?cians play?ing gor?geous music that echoed all through?out the St. Mark?s Square. You could sit and drink cof?fee and just lis?ten to the music and peo?ple?watch.
- Photo 16 is of a group of gondola?s wait?ing for patrons in the morning.
Tomor?row, I will show you pho?tos I took of the Doge?s Palace. Laura arranged for us to take the Secret Itin?er?aries Tour which was amaz?ing and all the sites Car?o?line and I saw through?out the?day.
Hugs!
Source: http://lisapace.com/2012/10/afternoon-verona-italy/
stoudemire jordan hill tony nominations dark knight trailer delmon young dallas mavericks washington capitals
19 Amazing Massive Stereos [Collection]
Source: http://feeds.gawker.com/~r/gizmodo/full/~3/cHZLF-0p_n4/19-amazing-massive-stereos
revenge once upon a time once upon a time adam shulman adam shulman dexter dexter
Chicago police find about 1,000 pot plants in city
CHICAGO (AP) ? Chicago police are busy chopping down 6- to 8-foot tall marijuana plants that they found growing on a chunk of land the size of two football fields on the city's far South Side.
Officers on routine patrol in a police helicopter spotted the crop Tuesday under a canopy of trees about 3 miles from their hangar.
Police said Wednesday that the 1,000 or so plants had been days or weeks from being harvested. Once packaged, the crop could have been worth as much as $10 million.
Authorities say it will take a few days to remove all the plants.
Police typically try to intercept shipments of marijuana grown elsewhere. But they say they've never seen such a large illegal agricultural enterprise, largely because there isn't enough room in the city.
Associated Pressalec baldwin alec baldwin college basketball oakland pinnacle airlines kansas vs kentucky joe posnanski
Your iPhone 5 May Not Get Compatible Accessories Until at Least November [Iphone 5]
the raven zerg rush david wilson playstation all stars battle royale kim zolciak kim zolciak travis pastrana
Subscribe to:
Posts (Atom)