Wednesday, October 17, 2012

Romney's tax plan termed "mathematically impossible"

Click here for a full report from the Tax Policy Center
(Click the image for a larger view)

...An analysis from the nonpartisan Tax Policy Center has met with particular scorn as it concluded Romney's plan is mathematically impossible -- that there simply aren't enough deductions, credits or loopholes in the tax code to offset the cuts for the well-off without wreaking havoc.

As Bloomberg View's Josh Barro has demonstrated, efforts to poke holes in the tax center's work are unconvincing.
The desire for specificity is hardly unreasonable. Running in 2000, George W. Bush insisted that his proposed tax cut would be a boon to the middle class. Experts demurred, arguing that the top 1 percent of income earners would reap a windfall. Like Romney, Bush declined to show his math. In the end, his 2001 tax cut delivered almost half of its benefits to the top 1 percent and initiated Bush's march toward a trillion-dollar deficit...

- Kennebec "Journal," Kennebec, ME

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