From AEI, one more weak whack at TPC's debunk of Romney's tax reform "plan"

Ever since the Tax Policy Center exposed the plain fact that Romney's proposal to render a 20% cut in marginal income tax rates "revenue neutral" with unspecified tax loophole closures without raising taxes on the middle class is mathematically impossible, GOP apologists have taken serial attempts to square the circle and fill in the blanks that Romney refuses to fill in.

First, the Wall Street Journal editorial board attempted a laughable debunk, which relied mainly on assuming that the rate cut would stimulate fantastic growth rates-- the old voodoo economics assumption.  As I pointed out at the time, the TPC had already granted Romney the most generous "dynamic scoring" (projections building in the assumption that the plan would spur growth) that any reality-based economist would grant.

The adminstration's last bullet against economic stagnation?

Back in 2008, as the mortgage crisis metastasized,  FDIC chair Sheila Bair, a Bush appointee, was for it.  John McCain,  under tutelage of his economic advisor, former CBO director Douglas Holtz-Eakin, was for it (twice, in two forms). In early 2009, leading Senate Republicans were for it. Today, former Reagan Council of Economic Advisers Chair Martin Feldstein is for it. And we learn it today's FT that Glenn Hubbard, George W. Bush's Council of Economic Advisers chair, is also for it.

"It" is large-scale mortgage relief for underwater homeowners. Bair, McCain-Holtz-Eakin, and Feldstein called for principal writedowns. Hubbard wants interest rates reduced to today's low levels: