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The “Six Studies” Ryan and Romney Cite to Qualify Their Tax Plan

14 Oct

My favorite quote from this article:

 >  The Romney campaign sent over a list of the studies, but they are perhaps more accurately described as “analyses,” since four of them are blog posts or op-eds. I’m not hating — I blog for a living — but I don’t generally describe my posts as “studies.”   <

From  http://www.bloomberg.com/

Well worth the read.

By Josh Barro Oct 12, 2012 10:34 AM MT

Mitt Romney‘s campaign says I’m full of it. I said Romney’s tax plan is mathematically impossible: he can’t simultaneously keep his pledges to cut tax rates 20 percent and repeal the estate tax and alternative minimum tax; broaden the tax base enough to avoid growing the deficit; and not raise taxes on the middle class. They say they have six independent studies — six! — that “have confirmed the soundness of the Governor’s tax plan,” and so I should stop whining. Let’s take a tour of those studies and see how they measure up.

The Romney campaign sent over a list of the studies, but they are perhaps more accurately described as “analyses,” since four of them are blog posts or op-eds. I’m not hating — I blog for a living — but I don’t generally describe my posts as “studies.”

None of the analyses do what Romney’s campaign says: show that his tax plan is sound. I’m going to walk through them individually, but first I want to make a broad point.

The Tax Policy Center paper that sparked this discussion found that Romney’s plan couldn’t work because his tax rate cuts would provide $86 billion more in tax relief to people making over $200,000 than Romney could recoup by eliminating tax expenditures for that group. That means his plan is necessarily a tax cut for the rich, so if Romney keeps his promise not to grow the deficit, he’ll have to raise taxes on the middle class.

————————————————————————-

Finally, I would note one item that the Romney campaign does not cite in support of its tax plan: Any analysis actually prepared for the campaign in preparation for announcing the plan in February. You would expect that, in advance of announcing a tax plan, the campaign would commission an analysis to make sure that all of its planks can coexist. Releasing that analysis now would be to the campaign’s advantage, helping them put down claims like mine that their math doesn’t add up.

Why don’t they release that analysis? My guess is because the analysis doesn’t exist, and the 20 percent rate cut figure was plucked out of thin air for political reasons without regard to whether it was feasible.

 

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3 responses to “The “Six Studies” Ryan and Romney Cite to Qualify Their Tax Plan

  1. alphamaser

    October 14, 2012 at 3:39 pm

    Marxism is the policy with the proven track record of failure! Obama the Socialist / Marxist / Progressive / Democrat must go!

     
    • toph

      October 14, 2012 at 4:53 pm

      What is with the socialist-marxist thing? How come it has to be either unfettered free-markeket capitalism or socialism. A little mix of both would do us well. As far as failure goes, the last time we had unfettered free-market capitalism, that failed stunningly. It’s called the Great Depression, look it up.

       
  2. h2dog

    October 14, 2012 at 5:08 pm

    Is it a good sign when you get the wingier of the wingnuts to respond?
    I don’t think so personally.
    “Cause all you really have to do is use the term “social”.
    Then all hell breaks loose.
    Not exactly a chess game, is it.

     

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