Mitt Romney’s second bite at the tax plan apple, released yesterday, doubles down on his strategy to recycle the failed economic policies of the past: more tax breaks to millionaires, billionaires, and big oil; raising defense spending to arbitrarily high levels; and slashing corporate taxes while maintaining loopholes and special-interest giveaways (like the carried interest provision that allows hedge fund managers to pay a lower effective tax rate than their secretaries). And Romney does all this without a plan for how he’d offset the lost revenue other than blowing an even bigger hole in the deficit.
Worse still, while he slashes taxes for the wealthiest Americans and corporations, he maintains his severe cuts to Medicare, Social Security and other programs essential to the middle class. Romney’s earlier plan already included $2 trillion in tax cuts and now he’s added another $3 trillion, without a single specific proposal to pay for those tax cuts. For a person who says he’s a numbers guy, his plan simply doesn’t add up.
But hey, don’t take it from us. Here’s what others are saying: