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DonViejo

(60,536 posts)
Sat Oct 13, 2012, 10:08 AM Oct 2012

Moody’s Chief Economist On Romney’s Tax Plan: ‘The Arithmetic Doesn’t Work’

The fact that Mitt Romney’s tax plan is mathematically impossible was reinforced again on Friday, when Mark Zandi, a former John McCain campaign adviser and Chief Economist at Moody’s Economy, admitted as much.

Speaking on CNN’s “Starting Point,” Zandi acknowledged a study by the Tax Policy Center that shows Romney’s plan to lower taxes by 20 percent across the board, while making up those losses in government revenue by closing loopholes on the wealthy, doesn’t add up. Zandi even went so far as to say that “the arithmetic doesn’t work as it is right now”:

ZANDI: Yeah, I think the Tax Policy Center study is the definitive study. They’re non-partisan, they’re very good. They say given the numbers that they’ve been provided by the Romney campaign, no, it will not add up. Now, the Romney campaign could adjust their plan. They could say okay I’m not going to lower tax rates as much as I’m saying right now and they could make the arithmetic work. But under the current plan, with the current numbers, no it doesn’t. I’ll say one other thing, though. I think it is important that we do focus on the so-called tax expenditures in the tax code. Those are the deductions, and credits, and loopholes in the code. We need to reduce those, because if we do we’re going to make the tax system fairer, easier to understand and ultimately lead to stronger growth. So that’s the right place to focus. But, no, the arithmetic doesn’t work as it is right now.

Watch it:




Read more:
http://thinkprogress.org/economy/2012/10/12/1004921/zandi-romney-tax-plan/
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Moody’s Chief Economist On Romney’s Tax Plan: ‘The Arithmetic Doesn’t Work’ (Original Post) DonViejo Oct 2012 OP
the economist said same thing amborin Oct 2012 #1
For fun, go to Google and type in "mathematically impossible" (w/ the quotes) 66 dmhlt Oct 2012 #2
K&R - You either have to be totally indoctrinated or totally fucking stupid to think it works. HopeHoops Oct 2012 #3
 

HopeHoops

(47,675 posts)
3. K&R - You either have to be totally indoctrinated or totally fucking stupid to think it works.
Sat Oct 13, 2012, 02:18 PM
Oct 2012

I'll just put everything on the credit card and claim I don't owe anything. Yeah, that's the ticket.

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