Mitt Romney has been talking about his 20% across the board Tax Cut plan for months now ...
until tonite. Tax Cut Plan ... what Tax Cut Plan?
Romney: No $5 trillion tax cut
by Rachel Weiner, washingtonpost.com -- Oct 3, 2012
[...]
“I don’t have a five trillion dollar tax cut,” Romney said. “I don’t have a tax cut of the scale that you’re talking about.”
Romney also said repeatedly that he would not raise taxes on the middle-class or lower them on the wealthy.
[...]
Did Romney just pull some Jedi-Mind-trick?
"These ... are not the Tax Cuts you've been looking for Mr President ..."
Unbelievable. Quite literally.
Hey Mitt, cut the hocus pocus -- let's just cut to the facts, shall we?
Fact check: Romney's tax claims challenged by nonpartisan report
by Lisa Mascaro, latimes.com -- October 3, 2012
[...]
The nonpartisan Tax Policy Center, a joint project of the Urban Institute and Brookings Institution, has said the Romney proposal would cost $360 billion in the first year before it is offset by closing loopholes, which others have extrapolated to estimate that it would amount to $5 trillion over the decade.
But Romney’s claim that his tax plan will not benefit upper-income earners runs into trouble in the Tax Policy Center assessment.
The report said the loopholes -- popular deductions including those for mortgage interest, charitable giving and others -- are not plentiful enough at the top of the income scale to cover the estimated $360-billion annual cost of reducing tax rates by 20%.
The gap would need to be filled by closing loopholes for those at lower ends of the income scale, those earning less than $200,000. Estimates say those earning between $100,000 and $200,000 would be significantly hit.
[...]
The Facts don't lie Mitt ... only your say-anything policy re-writes do, Sketchy.