Wednesday, August 08, 2012

Romney tax plan on table. Debt collapses table.

Following up on my earlier post Romney Tax Plan, here's Ezra Klein's take, Romney tax plan on table. Debt collapses table.

"The truth is that Romney is afraid to put his plan on the table. He has promised to reduce the deficit, but refused to identify the spending he would cut. He has promised to reform the tax code, but refused to identify the deductions and loopholes he would eliminate. The only thing he has put on the table is dessert: a promise to cut marginal tax rates by 20 percent across the board and to do so without raising the deficit or reducing the taxes paid by the top 1 percent."

He then goes through the analysis by the Tax Policy Center and the Romney Campaign (weak) rebuttal.

"I can describe Mitt Romney’s tax policy promises in two words: mathematically impossible."

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