Romney Claims His 'Bold' Tax Plan 'Can't Be Scored'
Two weeks ago, Mitt Romney unveiled what he has repeatedly deemed a "bold" plan to deliver a 20 percent across-the-board tax cut. As it turns out, the plan isn't so bold after all. For starters, it's largely a retread of the 15 percent tax cut scheme Bob Dole rode to defeat in 1996. And after a wave of analyses showed Romney's plan would produce oceans of red ink while giving the rich yet another payday courtesy of the U.S. Treasury, Mitt admitted today that his plan "can't be scored" because "I haven't laid out all of the details."
As The Hill reported today, the GOP frontrunner is now essentially claiming he deserves an "A" because the dog ate his homework:
"So I haven't laid out all of the details about how we're going to deal with each deduction, so I think it's kind of interesting for the groups to try and score it, because frankly it can't be scored, because those kinds of details will have to be worked out with Congress, and we have a wide array of options."
As Ezra Klein's Wonkblog rightly concluded:
"Let's be clear on this: A tax plan that can't be scored because it doesn't include sufficient details is not a plan. It's a gesture towards a plan, or a statement of intended direction, or perhaps an unusually wonky daydream. But it's not a plan."
Romney's may not be a plan, but it is a recipe. At a time of record income inequality, the lowest federal tax burden in 60 years, and large budget deficits without listing all of his ingredients, Mitt Romney is just offering a recipe for exploding national debt and a windfall for the wealthy.
As the Washington Post explained in its discussion of an analysis by the Committee for a Responsible Federal Budget, "until the campaign offers a more specific plan, Budget Watch analysts said Romney's entire framework would add about $2.6 trillion to the debt by 2021." That's likely a conservative estimate. As ThinkProgress and the Washington Post's Lori Montgomery and Ezra Klein documented, Mitt Romney's risky new scheme makes George W. Bush look like Karl Marx:
Romney's claim that his plan would promote job and economic growth while reducing the deficit is also likely false. The Bush tax cuts were promoted under the same guise, only to blow a $2.5-trillion hole in the federal budget that was accompanied by worst performance of any post-war expansion" for growth in investment, GDP, and job creation. Romney's tax cuts are even more expensive, clocking in at a cost of more than $10.7 trillion over the next decade and reducing revenue to a paltry 15 percent of GDP, according to Linden. Balancing the budget on those terms, as Romney claims he will do, would be next to impossible.

In a weird juxtaposition of images, FOX News was interviewing Bob Dole to push the meme that the media isn't reporting any good news out of Iraq with their FOX Fact saying " Iraq: A New Era"-while showing video of violence right next to "good old" Bob.