ran the numbers and found that, even if you granted Romney a series of optimistic to wildly implausible assumptions, he would have to raise taxes on the middle class, by a lot. The rate cuts would lose so much revenue for the rich that there wouldn’t be enough to gain from reducing deductions.
Republicans have been frantically denying the math, which Obama has turned into the potent (and accurate) accusation that Romney’s plan would cut taxes on the rich in order to raise them on the middle class. Republican economist Martin Feldstein tried to defend Romney by doing his own study showing that Romney’s math could work, but in an epic blunder, inadvertently confirmed the charges. Despite cutting all kinds of methodological corners, Feldstein’s study found that the threshold above which Romney would have to raise taxes was not the $250,000 he promised but $100,000 a year. That means Romney would have to raise taxes on a huge chunk of income below $250,000 a year, just as the TPC study found. Feldstein dealt with this problem by writing his column about his study as if it disproved rather than confirmed the TPC, and other conservatives have gone on pretending the same thing...
Saturday, September 15, 2012
Jon Chait at New York mag: