“There’s no economist that can say Mitt Romney’s tax plan adds $5 trillion if I say I will not add to the deficit with my tax plan.” - Mitt Romney at last night’s debate.
Say what? Hang on - Before everybody in the media rushes to coronate Mitt Romney for his stellar debate performance, let’s just pause to reflect on Mitt’s specious tax argument.
Romney says the economists who have scored his tax plan as adding $5 trillion to the deficit are wrong because his tax cut isn’t a $5 trillion tax cut. He dismissed the same criticism from President Obama last night, saying, “if the tax plan he described were a tax plan I was asked to support, I’d say absolutely not. I’m not looking for a $5 trillion tax cut.”
This is what a $5 trillion logical fallacy looks like…
Economists: Your 20% tax cut plan costs $5 trillion.
Romney: My tax plan does NOT cost $5 trillion. It is revenue-neutral.
Economists: Tell us how it’s revenue-neutral…
Economists: Such as?
Economists: So, you’re saying…
Romney: There’s no economist that can say Mitt Romney’s tax plan adds $5 trillion if I say I will not add to the deficit with my tax plan.