Entry 7

Mitt Romney begins to open mouth about taxation plan

Romney gets specific on tax plan

http://politics.blogs.foxnews.com/2012/10/03/romney-gets-specific-tax-plan

Fox News, October 3, 2012

Summary
Presidential candidate Mitt Romney was hit hard by Obama for not adequately preparing for the taxation plan, but he finally brought something to the debate about tax. To reduce across-the-board tax rate while maintaining deficit neutral, all the people would have $17,000 reductio or they can choose another reduction in either charity, healthcare, or mortgage. Though he did not specifically defined what will it be about, he laid the table for debate about taxation policy

Romney signals limits on tax breaks

http://money.cnn.com/2012/10/03/news/economy/romney-tax-plan/index.html?hpt=hp_t2

CNN, October 3, 2012

Summary
Presidential candidate Mitt Romney finally suggested something about taxation policy, which is reducing income tax for 20 percent. He mentioned that there are another option instead of $17,000 deduction and there would be small numbers in higher income earners who would gain benefits from this policy. Besides capping tax rates, it is assumed that Romney would have more agendas about taxation policy, but Policy Tax Center speculates that his plan would reduce around $500 billion of revenue per year. Still, there is no clearly defined policy for taxation plan, and it is too early to estimate the impact of policy that are not even defined properly.

My thoughts

Even though both articles deal with the same issue that Romney finally opened his mouth about taxation plan, the attitude the the Fox News and CNN were quite different. While Fox News seems to imply that there would be some kind of big debate about taxation policy in near future, CNN pessimistically states that there are not much done for taxation policy, so it is too fast to make speculations about the estimated impact of Romney's ambiguous plan that is subject to change. For the most part, it was really interesting to see different perspective each press takes on the same issue, and I agree with CNN's opinion since Romney did not actually do anything about taxation policy yet.