Gingrich Plan Gets Close Look (OUCH)

mbig · Dec 13, 2011

Deficit city! and the Ultimate, Unabashed, Trickle Down.
Ron Paul is the only one offering a painful but mathematically possible Spending cut to go with his tax cuts.
It's a pie-in-the-sky contest with Perry one-upping Cain and Gingrich one-upping Perry.
"upping" the deficit that is, with absurd rates.
More than Halving Income and Corporate tax and Eliminating Cap Gains/Divs/Estate. (Free Money!)
No wonder he's up in the polls. 'We' Americans love Morons who promise something for nothing, while we never vote for anyone who will tells us the painful truth.

Newt Gingrich Tax Plan Gets Close Look - WSJ.com
By JOHN D. MCKINNON
Dec 13, 2011

"...The study by the nonpartisan Tax Policy Center—a joint venture of the liberal Brookings Institution and the Urban Institute—offers insight at a time when Mr. Gingrich is moving to the fore among GOP candidates. It shows that the former House speaker's plan promises the largest tax breaks of all the GOP candidates' proposals, according to a Center analyst.

But the study also suggests Mr. Gingrich's blueprint would take the biggest bite out of the government's finances, at a time when deficits have become a concern to voters, and particularly conservatives. Compared with current tax levels, it would cut the government's revenue by about 35%, or $850 billion, in 2015 alone, the study said.

The Gingrich plan also gives the most lucrative tax breaks to the very wealthy, according to the study.
That could offer President Barack Obama a target for political attacks.
People making $1 million or more annually would receive an average tax break of about $614,000 in 2015 under the Gingrich plan, compared with current tax rates.
Their average tax rates would fall to about 11.9% from 31.6%.
[.....]
The Gingrich plan offers a flat-tax rate of 15% and Mr. Perry's 20%.
On the campaign trail, Mr. Gingrich typically focuses on elements of his plan that he says would boost U.S. investment: its elimination of capital-gains taxes for those who choose the new system; its elimination of taxes on the assets of the deceased; and its reduction of the corporate tax rate to 12.5% from the current 35% (one of the world's highest).

At Saturday's debate, Mr. Gingrich and Mitt Romney traded jabs over the impacts of their plans. Mr. Gingrich criticized rival Mitt Romney for focusing his investment tax cuts on earners below $200,000, and suggested that greater tax cuts for the rich matter more. "If you really want to create jobs, you want to encourage the people who make more than $200,000…to invest the capital in the U.S.," Mr. Gingrich said. "I'll stick with zero capital gains. We'll create vastly more jobs than your proposal."
[.....]

AdamT · Dec 13, 2011

These guys are all living in a fantasy world.

jasonxe · Dec 13, 2011

i didn't even know he had a tax plan :-D

mbig · Dec 13, 2011

jasonxe said:
i didn't even know he had a tax plan :-D

As you can see, it's Not really a tax plan, it's a lollipop.

Peter Grimm · Dec 13, 2011

"...The study by the nonpartisan Tax Policy Center—a joint venture of the liberal Brookings Institution and the Urban Institute"

LOL "nonpartisan?" Sure.

Consider the source.

amph · Dec 13, 2011

It is amazing that people fall for that over and over again when they are not even in the rarefied atmosphere Gingrich and his fellows live within.

ecofarm · Dec 13, 2011

Sorry for the all-caps, but that's how it is at the (foaming) website. I got a kick out of this.

(SUBJECT TO ALL THE TERMS AND CONDITIONS TO BE EXPRESSLY STATED BY DR. SAVAGE, INCLUDING GINGRICH DROPPING OUT WITHIN 72 HOURS OF TODAY)

THE REPUBLICAN PRESIDENTIAL FIELD HAS COME DOWN TO TWO CANDIDATES WHO HAVE A REAL CHANCE OF GETTING THE NOMINATION: NEWT GINGRICH AND MITT ROMNEY. WHILE IT’S TRUE THAT ROMNEY IS NOT AS STRONG A CONSERVATIVE AS MANY WOULD LIKE HIM TO BE, THE MOST PRESSING ISSUE BEFORE AMERICA TODAY IS DEFEATING BARACK OBAMA. AND THAT IS SOMETHING NEWT GINGRICH CANNOT DO. FOR WEEKS ON MY SHOW, I HAVE ENUMERATED THE REASONS WHY GINGRICH CANNOT SUCCEED IN AN ELECTION AGAINST OBAMA:

•WHEN HE WAS SPEAKER OF THE HOUSE, GINGRICH FAILED TO DELIVER ON HIS SO-CALLED CONTRACT WITH AMERICA.
•HE MADE ADS WITH NANCY PELOSI PROMOTING THE FALSE THEORY OF GLOBAL WARMING.
•HE’S IN FAVOR OF AMNESTY FOR ILLEGAL ALIENS.
•HE’S TAKEN HUNDREDS OF THOUSANDS OF DOLLARS FROM FANNIE MAE AND FREDDIE MAC, TWO OF THE MOST CORRUPT FINANCIAL INSTITUTIONS IN HISTORY.
•HE’S CHEATED ON TWO WIVES AND LEFT BOTH OF THEM WHILE THEY WERE BOTH SERIOUSLY ILL, WHICH WILL DESTROY HIS CHANCES AMONG FEMALE VOTERS.
•HE CALLED THE REPUBLICAN PLAN TO REFORM MEDICARE “RIGHT WING SOCIAL ENGINEERING.”
•IN A PRESIDENTIAL DEBATE AGAINST OBAMA, REGARDLESS OF HOW WELL HE DOES, ON TELEVISION, HE WILL COME OFF BADLY COMPARED TO OBAMA AND LOOK LIKE NOTHING MORE THAN WHAT HE IS: A FAT, OLD, WHITE MAN.

NEWT GINRICH IS UNELECTABLE. MITT ROMNEY IS THE ONLY CANDIDATE WITH A CHANCE OF DEFEATING BARACK OBAMA, AND THERE IS NOTHING MORE IMPORTANT THAN THAT FOR FUTURE HEALTH, SAFETY, AND SECURITY OF THE UNITED STATES OF AMERICA. THEREFORE, I AM OFFERING NEWT GINGRICH ONE MILLION DOLLARS TO DROP OUT OF THE PRESIDENTIAL RACE FOR THE SAKE OF THE NATION.

IF NEWT GINGRICH REALLY LOVES THIS COUNTRY AS MUCH AS HE SAYS HE DOES, IF HE REALLY WANTS WHAT IS BEST FOR AMERICA, HE WILL SET HIS EGO ASIDE, CALL ME, AND ACCEPT MY OFFER. HIS CONTINUED CANDIDACY SPELLS NOTHING BUT RUIN FOR CONSERVATIVES, REPUBLICANS, AND ALL TRUE AMERICAN PATRIOTS. ONE MILLION DOLLARS IN EXCHANGE FOR PRESERVING THE NATION, NEWT. I SAY TAKE THE MONEY… AND DON’T RUN.

» SAVAGE OFFERS GINGRICH $1 MILLION TO DROP OUT OF THE RACE

What will he do without the fringe?

amph · Dec 13, 2011

I have the totally opposite view that Savage has, ie, it is vitally important that Obama be reelected; if our nation goes back to the course charted be the previous administration and their supporters then the jihadist, fundamentalist, and those that equate the U.S. with the devil/iblis will get their wish, America - the U.S. would accelerate its decline rather than halt it and get back out of the black-hole gravity well we were put in by special interests and the previous admin.

1Perry · Dec 13, 2011

None of them outside of Paul realize that none of the old ways of thinking are going to work this time. Our problem can not be fixed with tax policies.

iliveonramen · Dec 13, 2011

Honestly this idea that cutting taxes pays for itself is one of the most budget busting dangerous ideas out there.

1Perry · Dec 13, 2011

iliveonramen said:
Honestly this idea that cutting taxes pays for itself is one of the most budget busting dangerous ideas out there.

Many times in some instances they can. They aren't in a large sense in our current situation.

whysoserious · Dec 13, 2011

Republicans will continue going off the deep end and wondering why...

iliveonramen · Dec 13, 2011

1Perry said:
Many times in some instances they can. They aren't in a large sense in our current situation.

I would agree in some instances they can. In the instances of some of these plans...we would need growth rates we haven't seen since early industrialization or or post WWII when the rest of the world was in ashes and we had no competition.

1Perry · Dec 13, 2011

iliveonramen said:
I would agree in some instances they can. In the instances of some of these plans...we would need growth rates we haven't seen since early industrialization or or post WWII when the rest of the world was in ashes and we had no competition.

Seems funny that those from far different perspectives on the street can come to understandings but those in D.C. simply can not. They all need to go.

Helix · Dec 13, 2011

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apdst · Dec 13, 2011

1Perry said:
Seems funny that those from far different perspectives on the street can come to understandings but those in D.C. simply can not. They all need to go.

Not all, just the ones who have something to gain from America's failure; and we all know who they are.

jasonxe · Dec 13, 2011

Helix said:
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View attachment 67119804

apdst · Dec 13, 2011

iliveonramen said:
Honestly this idea that cutting taxes pays for itself is one of the most budget busting dangerous ideas out there.

The government needs to stop trying to create jobs through massive spending. That would be the first step.

iliveonramen · Dec 13, 2011

apdst said:
The government needs to stop trying to create jobs through massive spending. That would be the first step.

Yeah, and a lot of people think government is too big. That's a valid argument. This argument that tends to be made...that we can cut your taxes...and you'll receive virtually the same services is wrong. It's like a school election "All the water fountains will have fruit punch in them instead of water". It's a pie in the sky promise.

If conservatives came to elections...and said we want government smaller (not just foreign aid or some piddly small almost nonexistent part of the budget) and we want to give you that tax money. I would be fine. Let the American people decide.

apdst · Dec 13, 2011

iliveonramen said:
Yeah, and a lot of people think government is too big. That's a valid argument. This argument that tends to be made...that we can cut your taxes...and you'll receive virtually the same services is wrong. It's like a school election "All the water fountains will have fruit punch in them instead of water". It's a pie in the sky promise.

No more than, "I'm going to give you all kinds of free money and life will suddenly be awesome", is a pie in the sky promise.

If conservatives came to elections...and said we want government smaller (not just foreign aid or some piddly small almost nonexistent part of the budget) and we want to give you that tax money. I would be fine. Let the American people decide.

They will when they vote out all those jack-leg clowns that think massive government spending will create jobs. Did you notice the midterm results? Notice the polls since? See a pattern?

iliveonramen · Dec 13, 2011

No more than, "I'm going to give you all kinds of free money and life will suddenly be awesome", is a pie in the sky promise.

No Liberals tend to be pretty open that if you want a Liberal world you're going to have to pay higher taxes. If you want government to provide Medicare and Social Security at an old age...you'll have to pay for it. If you want a society that provides for those the least off...there's a cost to it.

They will when they vote out all those jack-leg clowns that think massive government spending will create jobs. Did you notice the midterm results? Notice the polls since? See a pattern?

A pattern is more than one election. The election before that was a complete Democratic Party sweep.

Cameron · Dec 13, 2011

Another report on the analysis:

Newt Gingrich's 'mind boggling' tax plan - Dec. 12, 2011

Gingrich is going to kill his independent appeal with this plan.

Will we see yet another front-runner fall?

StillBallin75 · Dec 13, 2011

Peter Grimm said:
"...The study by the nonpartisan Tax Policy Center—a joint venture of the liberal Brookings Institution and the Urban Institute"

LOL "nonpartisan?" Sure.

Consider the source.

This happens to the be same Tax Policy Center that authored the "47% of Americans pay no federal income tax" report that conservatives love to cite :shrug:

so cherrypick at your own peril. Your post is nothing more than an ad hom attack.

whysoserious · Dec 13, 2011

StillBallin75 said:
This happens to the be same Tax Policy Center that authored the "47% of Americans pay no federal income tax" report that conservatives love to cite :shrug:

so cherrypick at your own peril. Your post is nothing more than an ad hom attack.

ouch that stung a bit.

Sheik Yerbuti · Dec 13, 2011

I'm amazed the GOP is even considering Newt Gingrich. :roll:

Gingrich Plan Gets Close Look (OUCH)

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