The crossword puzzle clue was, “Spend, (out).” Three letters.
I wrote “Eke.” That was wrong.
I wonder what Mitt Romney would first consider as an answer to that.
I wish every voter would ask themselves how they would fill in the three squares.
Do I want a president that has never in his life, ever, needed anything he couldn’t have?
Even though he has never been in dire financial straits, our country is. And he feels he is the guy to fix it. But he only knows what he knows. His money comes from interest income, capital gains and bonuses that are taxed at a reduced rate. In his mind, to help people you need to lower taxes on those sources of income so people can keep more of their money.
To balance that reduction in Federal revenue by not taxing money coming in, he proposes closing tax loopholes. His idea of loopholes are deductions people take on money going out, like mortgage interest, or college tuition.
It is a very clear and basic difference. So it should be easy to choose, on this issue, which candidate would better serve you.
If you are about to sell a bunch of very pricey stuff and are worried about capital gains tax, vote for Romney.
If you make a ton off of interest income, vote for Romney.
My situation, on the other hand, is a tad different.
I don’t have any big pricey things I can sell for a big profit. So my savings on paying less tax on zero dollars coming in doesn’t add up to much.
I tallied up my interest income as it was spilling out of my Wells Fargo savings account. It was . . . one penny. Really.
That is what they added to my account. So, when I had $13.74. After the bank poured into my account the interest income, I had $13.75.
The good news then is when Romney is president I will not have to pay tax on that windfall of profit. And in return for that gift I only have to give up deducting from my tax bill the thousands of dollars I paid out in mortgage interest.
So, if you make a ton off interest income, vote for Romney.
If you are planning on liquidating some large assets and want to pay less tax on it, vote for Romney.
But, if paying less tax on a penny, or if in your case it might be in the dollars, vote for the other guy.
And, if the deductions he calls loopholes, like mortgage interest, or college tuition, will hurt you if they go away, vote for the other guy.
What is the three letter answer to, “Middle class reaction to Romney as president?”
Copyright, Oct. 2012