Newt Gingrich's tax plan is truly evil. It's even worse than what the Great Newtradamus originally proposed. Newtradamus declared a vision of prosperity came to him! All will profit if only we have No Capital Gains Taxes, a Corporate tax rate of 12.5%, and a 15% flat tax for everyone else!
Now, if you wish Newtradamus would allow you to keep the current tax structure, but I don't know if that means the average worker would still be able to claim the Earned Income Tax Credit or write off Mortgage interest. What the Great and Slimy Newt's plan does mean is the Super Wealthy who control and own the Republican Party would see their stolen loot skyrocket and Income Inequality would become irreversible.
Mr. Sheet Rock Layer who works 2500 hours (48 hours a week) and makes $50,000 would pay $7,500 in taxes if he took the flat 15% rate. But, the Thieves who call their Income deferred would really prosper. For instance, Willard Mitt's, The Romneyan, tax rate would plummet from his current 13.9% to 0.25% and he would pay a mere $56,000 in taxes on an Income of $21,600,000, a Quarter of One Percent.
It's a brilliant way of destroying the Social Safety Net and crippling the Government. It's not an accident. The goal of the Right-Wing has always been to shift the burden of the poor, injured, sick or downtrodden onto the hard-working middle class, while allowing the 1% to abscond with Trillions in tax dollars funneled to them via their Republicon Dogs.
Do you think Mr. 10 hour days is going to want any money going to the Moochers? Of course, not he's busting his ass! He's ruining his health, breaking his back and barely seeing his family. But, and this is the most important part of the Right-Wing Plan the Middle Class can never know who are the Real Moochers. The True Moochers and Welfare Recipients in this Nation are the Plutocrats of the 1%.
This is where the Romneyan Brain-Washing Maneuver comes into play.
Romney, like all the Vultures and Thieves with whom he congregates make No Contribution to Society. The Entire Financial Model of the 1% is, what they themselves call, Creative Destruction.
It's Creative all right, but it's not Creation, it's Destruction. Romney and his ilk make profits off of eliminating jobs, destroying American companies, polluting waterways destroying ecosystems and profiting off of the carnage they caused.
But, that's only the first part of the Romneyan Brain-Washing Maneuver. After destroying Americans lives, Mitt Romney moves hundreds of millions to off-shore accounts in Luxembourg or the Cayman Islands and then calls the rest of his earnings "Deferred Income" or "Capital Gains". Thus while making at least 400 times more than an average American, every year, Romney and the disgusting filth with whom he associates get to pay effective tax rates 1/2th or 1/3rd as much.
But, when this is pointed out, people get mad so the Romneyan Brain-Washing reaches it's conclusion, in which Willard Mitt and his fellow Thieves declare they actually pay 50% taxes. "All told it's really closer to 45% or 50%," Mitt Romney.
It's a lie of course, but Romney has supporters amongst the Actors over at Faux News who declare, "Who cares how much money he has???"
Everything the Plutocrats and their defenders tell you are lies. Corporations do not pay 35% taxes. Time and again it's shown Corporations don't pay anything in taxes
Seventy-eight of the 280 companies paid zero or less in federal income taxes in at least one year from 2008 to 2010. Thirty corporations paid less than nothing (Negative Tax Rates) in aggregate federal income taxes over the entire 2008-10 period.Even more despicably these same Companies spent more on lobbyists and political donations,
Moreover, Public Campaign reports these companies spent about $476 million during the same period to lobby the U.S. Congress, as well as another $22 million on federal campaigns, while in some instances laying off employees and increasing executive compensation.That is where Newtradamus and Romneyan prove most special. Regular Americans don't get fancy dinner dates and a $500,000 dollar line of credit from Tiffany's or a $25,000 dollar a month contract to "Not-Lobby" from Freddie Mac like Newtradamus.
We, the People don't have wealthy friends setting up an LLC or a PAC to funnel millions of dollars to our pockets as we've seen happen for both Newtradamus and The Romneyan. W Spann LLC, was formed in March 2011 by Cameron Casey a former comrade of Willard Mitt's at Bain Capital made a $1,000,000 dollar donation to Romney and dissolved in July 2011.
Sheldon Adelson, who literally makes his money off of gambling (remember no contribution to society) and his wife Dr. Miriam Adelson have each given a $5,000,000 million dollar donation to Newtradamus.
But, all of this can't distract the conservative rubes and dupes who slavishly slurp down all the filth the Republicans shovel to them during their nearly 20 debates. The right-wing dupes truly believe all they need to make millions of dollars like they're good friends Newtradamus and The Romneyan is lower taxes and getting those moochers off of Medicaid, foodstamps and welfare.
Meanwhile, the Vultures smile and Trillions flow to them.