FINANCIAL TIMES: President Barack Obama and Mitt Romney, his most likely Republican rival in this year’s election, battled for the mantle of tax reformer as they released competing visions for comprehensive reform.
President Barack Obama and Mitt Romney, his most likely Republican rival in this year’s election, battled for the mantle of tax reformer as they released competing visions for comprehensive reform…
Mr Romney’s advisers said that their plan would not widen the deficit, but they relied on so-called “dynamic effects”, which assume that the lower rates mean greater economic growth and therefore more revenue. They did not say which tax breaks – such as the popular deduction for mortgage interest relief – they might scrap to pay for the lower rates… (more)
EDITOR: : The Laffler curve, “Trickledown economics” and now “Dynamic effects “— They all boil down to tax cuts of the rich at the expense of the middle class.
