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October 04, 2012 8:29 AM Daylight Video

By Ed Kilgore

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In tribute to Mitt Romney’s latest reinvention last night, here’s Pearl Jam with “Sleight of Hand.”

Ed Kilgore is a contributing writer to the Washington Monthly. He is managing editor for The Democratic Strategist and a senior fellow at the Progressive Policy Institute. Find him on Twitter: @ed_kilgore.
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Comments

  • Peter C on October 04, 2012 9:10 AM:

    Last night was the biggest installment yet of the 'Big Lie' strategy. Mitt said he'd cut tax rates by 20% but that taxes on the rich would not go down because he'd eliminate all the sneaky things that rich people do to avoid taxes (none of which he mentioned). So, there would be no difference in the amount they actually paid. BUT, since the rate was lower, there would be a massive amount of new activity, EVEN THOUGH THE JOB CREATORS PAID THE SAME AMOUNT. In effect, he said that someone paying $1 million in taxes because of deductions and a 25% tax rate would behave differently than that person paying $1 million in taxes because of a 20% tax rate an no deductions. If the results are the same, why would the change alter that person's behavior???

    Of course, the problem is that the deductions (that the rich use to lower their taxes) are the same ones we use (only on a much smaller scale). So either the elimination of those deductions hit us much more severely, or there are not enough of them to acually keep the amount paid by the rich the same. Either our taxes go WAY up, or theirs come WAY down, or the total revenues drop like a stone.

    In short, IT'S A LIE. And it gives the super-wealthy a gigantic tax cut and leaves us holding the bag.

  • AndThenThere'sThat on October 04, 2012 9:26 AM:

    Krugman has it right this morning. It's easy to win a debate when you lie out of your ass and tell people what you think they want to hear. But its a sick joke when you promise them things you know your never going to give them.

    http://krugman.blogs.nytimes.com/