After months of refusing to name so much as one tax loophole he might close to fulfil his promise to make his 20% tax cut “revenue neutral,” Mitt Romney has suddenly made a specific suggestion.In an interview with a local TV station in Denver, Romney floated the idea of capping tax deductions at $17,000, reports Justin Sink of The Hill.
Startlingly, this suggestion, if implemented, would punish the highest wage-earners the most.
(Romney, for example, took millions of dollars of tax deductions last year.)
Importantly, Romney phrased his suggestion carefully, in a way that will allow him to deny that he was actually proposing something:
“As an option you could say everybody’s going to get up to a $17,000 deduction; and you could use your charitable deduction, your home mortgage deduction, or others – your healthcare deduction. And you can fill that bucket, if you will, that $17,000 bucket that way. And higher income people might have a lower number.”
“As an option…”
“You could say…”
Not exactly bold stuff.
But at least it’s something specific.
For months, Romney has been pounded by the “mathematical impossibility” of cutting taxes 20% across the board and maintaining revenue neutrality while not raising taxes on the middle class. And he has refused to mention so much as one tax loophole that he might eliminate to accomplish this.
The suggestion that one “could” cap deductions at a specific number certainly doesn’t count as a proposal. But in this detail-free economic plan, we voters will take everything we can get.
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