Mitt Romney Reveals His Magical Tax Plan Math. And It Look Just Like Bush's.

[applegrove]

Mitt Romney Reveals His Magical Tax Plan Math. And It Look Just Like Bush's.

by Jed Lewison at Daily Kos

http://www.dailykos.com/story/2012/10/10/1142601/-Mitt-Romney-reveals-his-magical-tax-plan-math-And-it-looks-just-like-Bush-s

"SNIP.........................................................

Third, pay for the rest of his tax cut with economic growth.

That third point is essential, and it goes to the heart of the problem with Romney's tax plan, because with that third point Mitt Romney is explicitly conceding that his tax plan math doesn't add up without the magical math of tax cuts that pay for themselves.

Mitt Romney says that under his plan, the wealthy will pay the same amount of taxes as they do now, but by the logic of his own proposal, that could only be the case if cutting taxes on the wealthy leads to an economic boom. Without an economic boom, the tax cuts won't pay for themselves. Instead, the wealthy will walk away with a a 20 percent tax cut, but the middle class will be left holding the bag in the form of even bigger deficits and draconian budget cuts.

It would be one thing if there were any precedent showing that Romney's plan would work, but there isn't. In fact, what Romney is proposing is exactly the same thing as Bush proposed in 2000—and we wall know what happened when we tested his theory. If there's any major difference between the two plans it's that Romney's plan would add new tax cuts on top of the old, Bush tax cuts—so it would be an even bigger mistake.

.........................................................SNIP"

[msongs]

1. any ads etc tying romney to bushco? nt

[louis-t]

2. He "hopes" it will lead to economic growth.

The best thing Biden can say to Lyan in their debate? "Hope is not an economic plan."

[aint_no_life_nowhere]

3. Chimponomics and PNAC - all R$ has to offer

He is the second coming of the Chimp, only with worse ethics.

[courseofhistory]

4. I said this

many times over the last few months--that it's a gamble betting on job growth but no one on the right seems to care. They just hate Obama and really don't care what a train wreck Romney would be.