nakedempire


The American Empire in a Changing World



Pages

Thursday, October 4, 2012

Pepe Escobar: ''The $5 trillion question''

From Asia Times

"In his eagerness to spew out all matter of memorized talking points in virtually any intervention, as if he had a date with destiny (he actually had), 47% Mitt seems to have forgotten that for months he's been running a campaign in which one of the central planks is to lower the taxes of everyone in the US by 20%. Every worthy independent analysis in the US has concluded that this will mean a revenue deficit of $5 trillion over 10 years.

Here's what Mitt had to say about it when confronted by POTUS:
I don't have a $5 trillion tax cut. I don't have a tax cut of the scale you're talking about. I think we ought to provide tax relief to people in the middle class. But I won't reduce the share of tax paid by high-income people. … I'm not looking to cut massive taxes and to reduce revenues going to the government. My number one principal is, there will be no tax cut that adds to the deficit. I want to underline that no tax cut will add to the deficit.''

read more 

No comments:

Post a Comment