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Biden Pins Ryan Down On Taxes: ‘Oh, Now You’re Jack Kennedy?’

Read the rest at TalkingPointsMemo.com

Biden cited recent studies showing that the only way to pay the $5 trillion for the tax package would be to cut tax deductions on mortgage payments and health care that benefit the middle class. He also suggested Romney was deliberately preserving loopholes, for example tax rules that affect investment income, to protect the wealthy.

“Governor Romney, 10 days ago, was asked, you pay 14% [taxes] on $20 million. Someone making $50,000 paid more than that. Do you think that is fair? He said, yes, that is fair,” Biden said. “You think these guys are going to cut those loopholes?”

Biden Pins Ryan Down On Taxes: ‘Oh, Now You’re Jack Kennedy?’

Read the rest at TalkingPointsMemo.com

Biden cited recent studies showing that the only way to pay the $5 trillion for the tax package would be to cut tax deductions on mortgage payments and health care that benefit the middle class. He also suggested Romney was deliberately preserving loopholes, for example tax rules that affect investment income, to protect the wealthy.

“Governor Romney, 10 days ago, was asked, you pay 14% [taxes] on $20 million. Someone making $50,000 paid more than that. Do you think that is fair? He said, yes, that is fair,” Biden said. “You think these guys are going to cut those loopholes?”

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