Don’t you worry one bit Grover – Romney and Ryan have your back. They’ll lower taxes for the rich and promise Americans that they’ll pay for it by closing loopholes.
Actually – he says – “I will lower tax rates and remove loopholes and make it revenue neutral.”
However the heck that works. The wealthy will just find another tax shelter. Duh.
So this leads me to ask “Which loopholes?” Yeah. I know. Don’t bother asking.
According to Romney, if he is specific then lobbyists would create a problem for him. According to Ryan, he cannot be specific because there needs to be a national discussion about which loopholes.
Loopholes are being redefined. In this case, mortgage deductions are on the table. I’m not sure when a mortgage deduction became a loophole – but you better pay attention to the new definition.
First, “entitlements” were redefined. Next, teachers and unions were vilified. Now, expect your home to be the next demon.