“Tax The Rich” is a major theme for Democrats and it was certainly apparent last night in the vice presidential debate. The Obama/Biden team is wrong and there is no $5 trillion Romney tax cut for the rich. Even the Brookings Institution has pulled back from that charge.
We are coping with the worst economic and jobs recovery in modern times, and the Romney/Ryan plan is to reward success, and create opportunity, growth and jobs. This will be done by increasing take-home pay for the middle class, and incentives for investment and risk-taking.
When liberals shout tax the rich, conservatives must remind them that the Romney/Ryan plan includes a strict dollar cap on special tax deductions. It will most likely be $20,000 limit that will be even lower for top earners who get a marginal tax-rate cut. It’s a huge revenue-raiser, at lower tax rates.