WASHINGTON- Paul Ryan promised yet again on Sunday that Mitt Romney’s tax plan would lower the tax rates for all Americans while remaining revenue-neutral. He promised this, however, he did not fully explain how they would be able to accomplish it.
According to the Huffington Post, the Obama campaign has continued to mock the Romney-Ryan ticket for not giving detailed information on how it would give Americans such large tax breaks without raising the deficit.
Paul Ryan stated in interview on Fox News Sunday, that Romney’s tax plan would drop taxpayers’ bills by 20% without costing a dime. He explained that it would be due to closed tax loopholes, but Ryan was short on specifics details when pressed by host Chris Wallace.
“You haven’t given me the math,” Wallace said said in response to Ryan’s answers.
“I don’t have the … It would take me too long to go through all of the math,” Ryan responded.
“But let me say it this way,” Ryan continued. “You can lower tax rates 20 percent across the board by closing loopholes and still have preferences for the middle class for things like charitable deductions, home purchases, for health care. What we’re saying is people are going to get lower tax rates and therefore they will not send as much money to Washington.”
Wallace showed a brief clip of President Barack Obama mocking the Romney campaign’s lack of details on the loopholes while on the campaign trail. The clip showed President Obama saying this:
“No matter how many times they tell you they’re gonna start talking specifics really soon, they don’t do it,” Obama said. “And the reason is because the math doesn’t work.”
The Tax Policy Center released a report saying that Romney’s tax plan would raise taxes on many middle-class Americans. The Romney campaign has dismissed this report as partisan.