An Economic Quote for the Day

Romney keeps saying his plan will cut Obama‘s deficit. Turns out it’s another lie from the Mittster. At least that’s what the experts say.

“The bottom line is that whatever baseline you use, until Romney makes good on his promise to pay for his tax cuts, he would increase the deficit far more than Obama would.”

- The Tax Policy Center’s Robert Williams

Romney’s tax cuts for all those multi millionaires would increase the deficit by nearly $5 trillion over 10 years. That’s on top of keeping the Bush tax cuts for the rich. Romney has promised to close various loopholes to pay for his tax cuts, but he hasn’t specified which ones. And he’s not likely to because none of them are actually possibile.

Related articles

• Romney Avoids Explanations of How to Pay for Campaign Promises – Bloomberg (bloomberg.com)
• It’s Becoming Clear That Mitt Romney Has Radically Changed His Plan For Taxes And The Deficit (businessinsider.com)
• Mathematically Impossible (theburningplatform.com)
• The Truth About “Romney Hood” (newyorker.com)
• RomeyRyanomics: A Bad Deal for the Working Class: (economistsview.typepad.com)
• Rhetoric Aside, Few Details Of Romney’s Tax Plan (npr.org)
• Obama: Romney tax plans increase burden on middle class (mysanantonio.com)
• Mitt Romney — The Potential Liar-in-Chief (sayitaintsoalready.com)
• Payroll tax cut OK’ed for all of 2012; high-earner recapture tax repealed (dontmesswithtaxes.typepad.com)
• Mitt Romney and the Fantasy Budget (businessweek.com)