Mr. Romney said “my plan is very similar to the Simpson-Bowles plan.” The Romney proposal, however, has little in common with that bipartisan deficit-reduction proposal from a majority on the fiscal commission that Mr. Obama created in 2010. The Simpson-Bowles plan called for reduced income tax rates, but it would have raised about $2 trillion more in tax revenues over 10 years, mostly from high-income taxpayers, and cut spending to reduce the federal debt.This discrepancy raises a more fundamental question. Because Bowles-Simpson raises new revenue and Romney's plan doesn't, it should be easier, not harder, for Romney to make his cut-rates-and-reduce-loopholes plan more progressive than Bowles-Simpson. According to the Brookings/Urban Institute Tax Policy Center, the opposite is true. Why?
Showing posts with label JGTRRA. Show all posts
Showing posts with label JGTRRA. Show all posts
Saturday, August 04, 2012
Why is Bowles-Simpson more progressive than Romney's "very similar" plan?
Yesterday, the New York Times' Jackie Calmes provided a bracing model of how to reality-check a politician's ridiculous claim:
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