Perhaps you heard Paul Ryan’s interview on Sunday where he asserted that he really could not explain the math behind Romney’s budget because it would take too long.
Of course, it would take a really long time to somehow explain the 2+2=5 that is Romney’s budget. Of course, if you want to explain what’s actually going on, that’s what liberal bloggers are for. Drum:
Catherine Rampell provides the simple, nickel version of why the Romney/Ryan tax plan is mathematically impossible:
As the Tax Policy Center demonstrated, cutting individual income tax rates by 20 percent from today’s levels would reduce tax burdens by $251 billion per year (in 2015) among households with income above $200,000.
If you leave preferential tax rates for savings and investing (e.g., long-term capital gains and dividends) untouched, as Mr. Romney has said he would do, that leaves only $165 billion of available tax
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