Two days ago, the Obama campaign blasted out another email claiming a report by Princeton economist Harvey Rosen says Romney’s tax cuts would require large tax increases on families making between $100,000 and $200,000.
Rosen says he has no idea how the Obama campaign “reached that characterization of my work.”
Sounds to me like a polite way of saying, “WTF did they come up with THAT?!”
According to Rosen himself (not Obama’s version of Rosen), the main conclusion of his study of Romney’s plan was that it could work just the way Romney says it would.
He also says the Tax Policy Center report, the one Obama referred to at the first debate, has three huge flaws in its assumptions.
(1) The TPC report assumes pro-growth tax reform can’t actually produce economic growth, when stimulating economic growth is the WHOLE POINT of the Romney tax cut plan.
(2) The TPC report assumes two tax expenditures worth $45 billion per year are not ‘on the table’ when they MOST DEFINITELY ARE.
(3) The TPC report assumes the costs of Obamacare are still in the budget, when Romney has been clear about REPEALING Obamacare.
Rosen says when you correct for these erroneous assumptions, Romney’s math checks out.
You can check the math yourself @ http://www.weeklystandard.com/blogs/check-math-romneys-tax-plan-doesnt-raise-middle-class-taxes_653485.html
SOURCES:
October 8, 2012 – Princeton Economist: Obama Campaign Is Misrepresenting My Study on Romney’s Tax Plan
October 4, 2012 – Princeton Economist: The Math Behind Romney’s Tax Plan Adds Up
October 3, 2012 Check the Math: Romney’s Tax Plan Doesn’t Raise Middle Class Taxes
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