HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » Politics 2014 (Forum) » "The Final Word on M...
Introducing Discussionist: A new forum by the creators of DU

Fri Oct 12, 2012, 06:16 PM

"The Final Word on Mitt Romney's Tax Plan" by Josh Barro at Bloomberg News

The Final Word on Mitt Romney's Tax Plan

By Josh Barro at Bloomberg News

http://www.bloomberg.com/news/2012-10-12/the-final-word-on-mitt-romney-s-tax-plan.html

"SNIP....................................................

Mitt Romney's campaign says I'm full of it. I said Romney's tax plan is mathematically impossible: he can't simultaneously keep his pledges to cut tax rates 20 percent and repeal the estate tax and alternative minimum tax; broaden the tax base enough to avoid growing the deficit; and not raise taxes on the middle class. They say they have six independent studies -- six! -- that "have confirmed the soundness of the Governorís tax plan," and so I should stop whining. Let's take a tour of those studies and see how they measure up.

The Romney campaign sent over a list of the studies, but they are perhaps more accurately described as "analyses," since four of them are blog posts or op-eds. I'm not hating -- I blog for a living -- but I don't generally describe my posts as "studies."

None of the analyses do what Romney's campaign says: show that his tax plan is sound. I'm going to walk through them individually, but first I want to make a broad point.

The Tax Policy Center paper that sparked this discussion found that Romney's plan couldn't work because his tax rate cuts would provide $86 billion more in tax relief to people making over $200,000 than Romney could recoup by eliminating tax expenditures for that group. That means his plan is necessarily a tax cut for the rich, so if Romney keeps his promise not to grow the deficit, he'll have to raise taxes on the middle class.

....................................................SNIP"

1 replies, 361 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 1 replies Author Time Post
Reply "The Final Word on Mitt Romney's Tax Plan" by Josh Barro at Bloomberg News (Original post)
applegrove Oct 2012 OP
applegrove Oct 2012 #1

Response to applegrove (Original post)

Fri Oct 12, 2012, 06:17 PM

1. I wonder if Mitt isn't planning a Value Added Sales Tax. That would square

his numbers. I hope Obama has a plan in place in case Mitt announces this in the last few weeks.

Reply to this post

Back to top Alert abuse Link here Permalink

Reply to this thread