Sahil Kapur:
Romney Shuts Down Speculation That He’s Backing Off Tax Plan: Mitt Romney is shutting down rumblings that his campaign is hedging on the notion that he can slash tax rates by 20 percent without lowering revenues.
The governor’s plan calls for a 20% rate cut for all brackets, revenue neutrality, while ensuring that high-income earners continue to pay at least the same share of taxes…. All of these goals are achievable, and the governor will work with Congress to enact tax reform that meets each of the goals he has proposed.
The statement came in response to remarks this week from campaign adviser Kevin Hassett, who said that if Romney cannot make his math work, he’d set higher tax rates for high income earners instead of raising the burden on the middle class….
In response to a nonpartisan Tax Policy Center study that found Romney’s tax plan “not mathematically possible,” the conservative economist Martin Feldstein wrote a paper that employed friendly assumptions for the candidate and yet found that taxes would need to be raised on incomes between $100,000 and $250,000 in order to pay for his rate cuts.
He's already thrown Martin Feldstein and Harvey Rosen under the bus on this--by saying that he is not going to raise taxes on people making $100-250K/year to pay for tax cuts on still higher incomes. Who is left?
