This is how you quickly do the math on the Romney-Ryan tax plan

This is how you quickly do the math on the Romney-Ryan tax plan

Posted by Ezra Klein at WP

http://www.washingtonpost.com/blogs/ezra-klein/wp/2012/10/02/this-is-how-you-do-the-math-on-the-romney-ryan-tax-plan/

"SNIP..............................................

On “Fox News Sunday,” Chris Wallace repeatedly asked Paul Ryan to explain how the math on his tax plan added up. Ryan pretended not to understand Wallace’s question, called the Tax Policy Center study “thoroughly debunked” when it’s not even been dented, and, finally, retreated behind a particularly sad excuse for a politician who built his reputation on explaining policy in understandable terms: “It would take me too long to go through all the math.”

Aside from betraying the principles of policy communication that Ryan once stood for, this response isn’t even true. It doesn’t take very long at all to go through the math. In fact, it’s only a few steps.

1) In 2015, the Romney-Ryan rate reduction will reduce tax revenue by $480 billion compared to current policy. That’s the raw number, before you start arguing over behavioral responses or growth.

2) Of that $480 billion, 39.1 percent, or $187 billion, will go to the top 1 percent.


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