Big O was in Stamford, Connecticut, on Monday and now famously said this:
In fact, the entire centerpiece of Mitt Romney’s economic plan is a new $5 trillion tax cut…just last week, an independent, non-partisan organization crunched the numbers. They went through what would it mean to add a $5 trillion tax cut…And they determined that Governor Romney’s plan would effectively raise taxes on middle-class families with children by an average of $2,000 — to pay for this tax cut. Not to reduce the deficit. Not to invest in things that grow our economy, like education or roads or basic research. He’d ask the middle class to pay more in taxes so that he could give another $250,000 tax cut to people making more than $3 million a year.
BIG O: It’s like Robin Hood in reverse. It’s Romney Hood. (Laughter and applause.)
And if this sounds like an idea that’s difficult to explain or sell to the American people, you’d be right. So there were all kinds of different gymnastics being performed by the Romney campaign last week. They have tried to sell us this trickle-down, tax cut fairy dust before. And guess what — it does not work. It didn’t work then; it won’t work now. It’s not a plan to create jobs. It’s not a plan to reduce our deficit. And it is not a plan to move our economy forward.
Big O’s reference to an “independent, non-partisan organization” that “crunched the numbers” on “Romney’s economic plan” is to the Tax Policy Center’s paper released last week that found Romney’s plan would raise taxes on 95% of Americans while doling out an average of $87,000 to millionaires in the form of even lower taxes. But if you are in that magical top one-tenth of 1%, as Big O said, you get close to $250,000! Whoopee!
The TPC’s academic holding:
Our major conclusion is that any revenue-neutral individual income tax change that incorporates the features Governor Romney has proposed would provide large tax cuts to high-income households, and increase the tax burdens on middle- and/or lowerincome taxpayers.
And that is why Big O calling out Mittens as Romney Hood and labeling his economic plan as trickle-down, tax cut fairy dust is so damned resonant. It happens to be true.
And though Romney Hood now says the Tax Policy Center is one of them there “liberal” groups, when he was battling Rick Perry in the Republican primary, the Romney campaign issued a press release about a TPC study of Perry’s economic plan:
Objective, Third-Party Analysis Showed Governor Perry’s Plan Would Raise Taxes On Millions Of American Families – But He Doesn’t Seem Interested In The Discussion.
The Tax Policy Center performed an “objective, third-party analysis” when it assessed Romney’s primary opponent, but its analysis of Romney’s plan is biased and rotten with liberalism. That’s the Romney Hood way, I suppose. Not only will he rob the poor to give to the rich, he will say absolutely anything to get the chance to do so.