How Romney Is Obscuring His Upper Income Tax Cuts
Seeking to neutralize the Obama campaign’s charge that his tax proposal will disproportionately benefit the wealthy, Mitt Romney has subtly changed the way he talks about his plan, in a way that completely obscures what its impact would be.
Before the general election, Romney consistently argued that he wanted the wealthy to pay the same share of the overall tax burden as they do today. Now, as often as not, he claims he doesn’t want to reduce their burden at all.
The two descriptions of his plan have wildly different implications — and he’s effectively using their superficial similarities to obscure the real impact his proposal would likely have.
Romney’s official proposal is to cut all marginal rates by 20 percent and to eliminate unspecified tax loopholes for high incomes. When nonpartisan experts analyzed the plan they concluded that under friendly assumptions his rate cuts will either require a higher burden on the middle class or an increase in the deficit.
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