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Showing Original Post only (View all)Romney Backs Away From Own Tax Plan [View all]
Source: TPM
At the first presidential debate in Colorado Wednesday night, former Gov. Mitt Romney disputed a central criticism of his tax reform plan and appeared to disavow one of its central features.
Responding to President Obamas description of Romneys proposal, Romney claimed: I dont have a $5 trillion tax cut. I dont have a tax cut of the scale youre talking about. I think we ought to provide tax relief to people in the middle class. But I wont reduce the share of tax paid by high-income people.
Im not looking to cut massive taxes and to reduce revenues going to the government. My number one principal is, there will be no tax cut that adds to the deficit. I want to underline that no tax cut that will add to the deficit.
So whos right?
Romney has run for months on a plan to lower everyones tax rates by 20 percent an amount that independent analysts have concluded will reduce revenues by $5 trillion over 10 years.
Read more: http://tpmdc.talkingpointsmemo.com/2012/10/romney-backs-away-from-own-tax-plan.php?ref=fpa