be dealt with. but yes, it is a frustration that is felt that there is no viable alternative on either side. they ve got trillions of dollars on the sidelines. there has been for several years. there s an uncertainty, but the uncertainty now, unfortunately, is not just barack obama, which you ve been able to put it on barack obama for the past two years. business is uncertain about what a romney what an obama second term would mean. now that uncertainty slides over to mitt romney as well. mitt romney goes on shows and doesn t tell people how he s going to pay for it. steve ratner, if you talk about what the loopholes he might close, is that adding to the uncertainty, perhaps scaring businesses? and aren t the businesses we re talking about, the big ones, making record profits? can t they handle it? well, first the loopholes he wants to close really don t affect businesses. they affect individuals. the reason he won t specify him is because they are so politically toxic, elimina
provide any details. give me an example of a loophole that you will close. well, i can tell you that people at the high end, high income taxpayers are going to have fewer deductions and exemptions. but which ones? will he cut the home mortgage deduction? does he plan to cut the deduction on charitable giving? who knows. it seems peculiar that a man who plans to run the country will not tell the country what he plans to do. maybe that s the point. because it does seem as though mitt romney s campaign to win the white house is actually based upon two pillars that have got nothing whatsoever to do with policy. first, he plans to carpet bomb the president with negative advertising. just last month mitt romney and the rnc raised almost $112 million. that means he has $168.5 million of cash on hand. ready to pour into an advertising blitz. but the target will be the president, while mr. romney will continue to stay silent on matters of policy.
better be ready to defend themselves with that the surrebuttal. thank you. grat having you on. did you catch mitt romney yet on meet the press. he says he wants to keep kids and parents health insurance and make sure people with pre-existing conditions he wants everything obama is offering but it won t cost you a penny. this is great. this is perfect. he s going to give you everything obama does but it won t really be a program. it s interesting how he s promising. fdr warned about this stuff, so next get the specifics. neither romney or ryan have come up with a specific reduction. not one. they don t want to tell you anything. they may get rid of charitable, the home mortgage deduction, they may get rid of state and local tax reduction. look out, nobody is safe. okay, now we re 57 days from the 2012 election. so what s ahead for hillary clinton in 2016? we re going to get to that sugar plum. the question we all have, where is it going for the secretary of state? that s one of the
deduction in the tax code it is still not revenue neutral and you know you re never going to eliminate the home mortgage deduction, one of the biggest ones, never eliminate the health care deduction it s impossible. politically. and charity. those are the three big piles of money if you eliminate them all it still doesn t work. i understand your point. when they talk generally about deductions that are going to bring this into balance would you say it won t do, mark halperin you brought this up, three places to go. a joke to say his budget is specific if they won t say which of those it s a joke. home mortgage or medical or charitable. ryan wants to call them corporate welfare and loopholes. they re not. they re deductions built into the code that have huge support from the american people and to say here s my plan revenue neutral and great tax cuts involved and we ll specify the hard parts later i think it s a joke. brit did press him on that a little. i don t un
same boat, which is, they are very, very specific about precisely what huge tax cuts they would enact, especially for the rich, but have said not one single word about what deducti n deductions or loopholes they would get rid of to pay for those tax cuts. and as the brookings institution has proven, it s mathematically impossible to gain enough revenue by getting rid of deducdeduck ductions and loopholes to pay for that reduction in tax rates for the rich. and pby the way, the corporate tax rate also comes down to 25% in ryan s plan. so, if, for example, you wiped out every deduction including the home mortgage deduction and then wreaked havoc on the housing mark in america, which is already in trouble, you still wouldn t be able to do what ryan claims his plan would do in taxation. and ezra, ryan has this reputation as being a deficit hawk, and the press just puts it