Tax Policy Center Already Declared Romney’s Tax Plan “Not Mathematically Possible”, So What’s Romney Up To?
Mitt Romney has spent his entire political career trying to be all things to whomever his constituency was at the time. When he was among Massachusetts
liberals, he behaved as a Republican moderate. Now that he’s among Tea Party conservatives, he is behaving as a born again conservative. Mitt Romney will be whoever you want him to be if it furthers his ambitions, and he can actually make it fly rhetorically. But although politicians lie, numbers don’t. And the numbers tell us that Mitt Romney can’t put in place a tax policy that both pleases everyone and is still fiscally responsible.
The Washington Post reports:
..Romney promises his tax cut won’t cost anything, won’t raise taxes on the middle class, won’t cut taxes on the rich, and won’t end the tax breaks for savings and investment.
The Tax Policy Center, the gold standard in nonpartisan tax wonkery, looked at the tax cut and these promises and declared the proposal “not mathematically possible.” Since Romney doesn’t want to touch tax breaks for savings and investment like the capital gains cut — a position he reiterated last night on “60 Minutes” — there just isn’t enough money in the remaining tax breaks for people making over $250,000 to pay for their tax cuts.
So, either Mitt Romney is prepared to be fiscally irresponsible if elected, or he’s lying about his true intentions where tax policy is concerned. The only way Romney’s math works is if he raises taxes, and he’s certainly not going to raise taxes on the people he calls the “job creators”, so who does that leave?
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