This is insane. How can a guy running on the economy not read the work of an economist he is citing on the campaign trail? Romney’s definition of “middle class” is also astounding, given that only 2% of households have incomes of $250,000 per year. Alternet reports on a recent Romney interview:
Democrats say Romney’s plan would cause a $2,000 tax hike on the middle class – something Romney disputes and points to a number of studies that say his plan to cut taxes will not increase the deficit, including one by Harvard professor Martin Feldstein.
Feldstein says Romney’s math will work, but he would have to eliminate the home mortgage, charitable, state and local tax deductions for incomes greater than $100,000.
When I pressed Romney on that point, he conceded that he actually hadn’t read the Feldstein report that he and Paul Ryan cite on the campaign trail.
“I haven’t seen his precise study,” he said.
“I said that there are five different studies that point out that we can get to a balanced budget without raising taxes on middle income people. Let me tell you, George, the fundamentals of my tax policy are these. Number one, reduce tax burdens on middle-income people. So no one can say my plan is going to raise taxes on middle-income people, because principle number one is keep the burden down on middle-income taxpayers,” he said.
Romney defined middle income as $200,000 to $250,000 a year and less.