will mitt romney be held accountable for lies and distortions about president obama s record? we got a sneak preview of what happens when mitt romney is forced to tell the truth. a fox affiliate here in denver asked romney to explain what paul ryan could not, how he plans to pay for $5 trillion tax cut by only eliminating deductions. there s an option. you could say everybody is going to get up to a deduction and you could use your home mortgage deduction or others, health care deduction and fill that bucket, if you will, the $17,000 bucket that way and higher income people might have a lower number. at least the plan has a name. it s the bucket plan. mitt romney will cap deductions at $17,000 for all americans. is that good for the middle class? do the math. for rich americans, the cap, it just might be lower than that. he was very vague on that point
let s take a look. you could say everybody s going to get up to $17,000 deduction and you can use your charitable deduction, your home mortgage deduction or others, health care deduction and you can fill that bucket, if you will, the $17,000 bucket and higher income might have a lower number or you could do it by the same method that bowles/simpson did it, which is limiting certain deductions but that s the sort of thing that well, his tighing would take him past 17%. his spokesman made clear, this is one of the policy options romney was considering. in other words, if you want specifics, don t count on this. howard, this is the problem the more he teases it and pulls back, the more he looks like the more he teases it, the more confusion he sews and a contrast still with his own
which of the deductions are you going to be willing to eliminate eliminate? well, we ll go through that process with congress as to which of all the different deductions but do you have any ideas now like the home mortgage interest deduction? well, simpson bowles went through a process where they had actually under their proposal even more revenue for the government with lower rates. so mathematically it s been proved to be possible. we can have lower rates that creates more growth and we can limit tt deductions and exemptions. actually, mitt, simpson/bowles proposed cutting tax rates they were specific about it including the home mortgage deduction, all of them. so yeah, we can do the math on simpson/bowles but we can t do the math on your proposal because you don t actually propose getting rid of any tax
people at the high end, high income taxpayers, are going to have fewer deductions and exemptions. when are you going to tell us where you re going to get the revenue? which of the deductions are you going to be willing to elimin e eliminate? well, we ll go through that process with congress as to which of all the different deductions but do you have any ideas now like the home mortgage interest deduction? well, simpson bowles went through a process where they had actually under their proposal even more revenue for the government with lower rates. so mathematically it s been proved to be possible. we can have lower rates that creates more growth and we can limit tt deductions and exemptions. actually, mitt, simpson/bowles proposed cutting tax rates they were specific about it including the home mortgage deduction, all of them. so yeah, we can do the math on
self-satisfied look and that s when you put him away. you wait for the other guy to take his sunday punch and you put him away with there you go again or something like that because the public always roots for the candidate who has just been hit hard. they always root for him. you get up off the floor, they love you, root for you. if obama goes into this first debate ahead substantially, it will be romney who is going to have to throw the sunday punch and god help him. anybody that throws that punch better be ready to defend themselves with that the surrebuttal. thank you. great having you on. did you catch mitt romney yesterday on meet the press ? he says he wants to keep kids and parents health insurance and make sure people with pre-existing conditions he wants everything obama is offering but it won t cost you a penny. this is great. this is perfect. he s going to give you everything obama does but it won t really be a program. it s interesting how he s promising. fdr warned abo