in which he declined to explain how the Romney/Ryan tax cuts will be paid for: “I don’t have the time, it would take me too long to go through all the math.”
We voters are just supposed to believe their numbers come out correctly. That closing tax lop holes won't impact the middle class. Except it seems that it will:
According to the nonpartisan Tax Policy Center, middle class taxpayers would pay more under the GOP plan, because the rate cut would not be high enough to outweigh the many deductions Romney would have to eliminate to avoid increasing the deficit. Romney’s campaign has disputed that study, but his advisers have also promised that if it doesn’t work, he will keep higher taxes on the rich, not raise them on the poor.
The Post has a wonderful editorial on the subject. They say in part:
The GOP wants voters to think that only the rich would be affected by its loophole closing. “And don’t forget that the higher-income people have a disproportionate amount of the loopholes that they use,” Mr. Ryan said. Well, actually, no. Higher-income people reap a “disproportionate amount” of the benefit of lower rates on capital gains and dividends — households earning more than $200,000 a year receive 90 percent of the benefit. But the Romney-Ryan plan would leave that break in place. Most of the remaining major tax breaks flow primarily to households earning $200,000 or less. For example, more than two-thirds of the benefit of the deduction for home mortgage interest goes to those making less than $200,000 a year.
Good to know that the Romney/Ryan ticket is going to tell it like it is to voters. Except if the math is too hard. More likely if the math doesn't add up.