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Yes, of Course Mitt Romney's Math Is Phoney. Why Do You Ask?

Nobody interested in good policy has any business working for, supporting, endorsing, or contributing to this clown.

James Kwak:

Mitt Romney Still Can’t Do Arithmetic: From his closed-door fundraiser yesterday, courtesy of NBC:

“I’m going to probably eliminate for high income people the second home mortgage deduction,” Romney said, adding that he would also likely eliminate deductions for state income and property taxes as well. “By virtue of doing that, we’ll get the same tax revenue, but we’ll have lower rates,” Romney explained.

Let’s check Romney’s arithmetic… Factor in the 20 percent across-the-board cut in rates that Romney has promised…. Net, that’s a $41 billion reduction [in the top 1%'s taxes]. On top of that, you have to add Romney’s proposed reduction in corporate income taxes…. Republican tax cut plans fall into two categories: the ones that don’t bother pretending that they’re going to be revenue neutral and the ones that do. But the latter can never make the numbers add up….

This is the guy who’s supposed to be the hard-headed businessman?

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