From Obama/Biden 2012:
[Mitt Romney and Paul Ryan won’t answer the most basic questions about their tax plan]
Mitt Romney (r): …Massachusetts.
David Gregory: Give me an example of a loophole that you will close.
Mitt Romney (r): Well, I can tell you that people at the high end, high income taxpayers are gonna have fewer deductions and exemptions.
Norah O’Donnell: The Tax Policy Center has done an analysis and they say there is no way to pay for the cuts that you’ve proposed without either increasing the deficit or raising taxes on the middle class, because you would have to get rid of deductions and loopholes that benefit the middle class in order to pay for those tax cuts that you’re proposing and that increase in defense spending.
Paul Ryan (r): So, the good news for us, Norah, is they didn’t even actually analyze the Romney plan. There are five other studies that have [crosstalk] one, what, what…
Norah O’Donnell: Well there isn’t a Romney plan that’s been specific about [crosstalk] which deductions and loopholes he’s close, would close.
Paul Ryan (r): Right, so…
George Stephanopoulos: Uh, many say it’s in, it’s difficult to accept your word if you’re not gonna specify which tax loopholes you’re willing to close. Don’t voters have a right to know which loopholes you’re gonna go after?
Paul Ryan (r): So, Mitt Romney and I, based on our experience think the best way to do this is to show the framework, show the outlines to these plans, and then to work with Congress to do this. That’s how you get things done. The other thing, [crosstalk] George, is…
George Stephanopoulos: Isn’t that a secret plan? [crosstalk] Why…
Paul Ryan (r): We don’t [crosstalk]…
George Stephanopoulos: …not say right now [crosstalk] which loophole you’re willing to close?
Paul Ryan (r): Because we want to do this, we want to have this, George, because we want to have this debate in the public. We should do it out in the public view where the public can participate.
George Stephanopoulos: But that’s exactly what I’m suggesting, having it in public before the election so voters can have that information before the make up their minds.
George Will: But there is uncertainty surrounding the Romney Ryan tax cut plan because they have not specified the deductions that will be closed. And we know where the big money is, mortgage interest deductions, charitable deductions, taxing as compensation, which it is, employer provided health insurance, and state and local taxes. All of those you either hit all of the rich, in which case you don’t get much money, or you hit the middle class.
[The Romney/Ryan Plan: Not bold leadership, just bad math]
And we lose to these people?