Even Fox News (Finally) Discounts the Romney Tax Plan

[Fearless]

A Fox business host has admitted that it isn't possible to calculate how GOP presidential hopeful Mitt Romney's plan would be paid for.

Independent fact-checkers and experts say that Romney's tax plan, a $5 trillion dollar tax cut that would largely benefit the wealthiest Americans offset by closing undisclosed loopholes, doesn't add up. The Romney campaign has responded by saying one possible way to pay for the tax plan is to cap the total amount of deductions a taxpayer can take. Experts have said that even with such a deduction cap, Romney's plan still doesn't add up.

And in a rare moment of truth for Fox, Fox Business host Stuart Varney admitted: "I cannot calculate how much money would be brought in" by Romney's plan.

http://mediamatters.org/embed/static/clips/2012/10/22/27209/fnc-ff-20121022-varneytaxplan

http://mediamatters.org/blog/2012/10/22/fox-finally-acknowledges-that-romneys-tax-plan/190814

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[politicaljack78]

1. Poor Willard, he never was any good with numbers.

If only he could've exported his tax plan to China. I'm sure it worked over there.

[cui bono]

2. Sam Seder played a clip of Ben Stein on Fox telling them their whole belief about taxes is wrong.

That tax cuts do not help an economy grow. They kept trying to make excuses and he kept giving them facts and examples. Would be great to see the video. I don't know when it happened and I don't know which Majority Report podcast it was on since I was playing catch up today and listened to several of them.

[Shuhered]

3. Mitt Losing Ground Fast

Mitt's Plan never added up. He chose Paul Ryan after looking over 10 years of Ryan's tax returns. Mitt clearly feels he is above the law in not showing his tax returns. Reid knows that there is something amiss with Romney's financial shenanigans. Romney and even Ann are acutely aware that they have broken the law. Let's fast put this charade of legitimacy of Mitt's candidacy to rest, please. He is a criminal, and not a very good one.

[Scootaloo]

4. How is it we are even arguing this?

No, seriously, how stupid are we, the collective people of the united States, that anyone thinks this plan makes a lick of sense?

"This tax cut won't increase the deficit because I'll close the loopholes!"

Okay, there's five trillion dollars lost to loopholes? That's the only way this argument makes any sense, is if the whole of the tax break can be found in the loopholes being closed. In which case, you're cutting five trillion and gaining five trillion, which is exactly the same as not doing either.

But you'd have to be a gibbering idiot to really think you can pay for a five trillion-dollar tax cut by "closing loopholes" in the tax code. Especially when the people proposing this plan can't even speak of WHICH loopholes they plan to close! I mean c'mon guys, if you've found five trillion dollars in loopholes, maybe you could specify where?

But then this is a guy who outsourced his businesses to China who claims to not know you get a tax bonus for doing that.