It’s kind of hard to explain what’s in Mitt’s tax plan, but he did drop some hints about what wanted to do in last night’s presidential debate — in between incredibly dishonest but plausible-sounding statements about everything else:
- He wants to put a cap of $25,000 on total deductions – so if you have a large mortgage deduction, that’s it.
- He wants to keep people who have savings from being taxed on them. But you’re not taxed on savings, you’re taxed on any interest they earn. Savings accounts are paying almost no interest now, so big whoop. But more to the point: Seriously, people still have savings? Talk about throwing us a bone!
- He says Obama wants bureaucrats telling people to use contraceptives. A Mormon nightmare, to be sure!