While the Romney camp is sure to argue their candidate's fiscal policy is of his own making, his new running mate Paul Ryan’s more comprehensive and controversial plans will likely be a major campaign issue.
Our tax expert crunches the numbers of the Paul Ryan financial plan. end result? While Romney's pick for vice president is often called a deficit hawk, in fact balancing the budget is not one of his high priorities.
A study suggesting Romney's tax plan would raise costs for the middle class got plenty of attention. But its deeper message got lost: Tax reform is hard.
The Obama campaign has taken the recent analysis of Romney's proposed tax plan as an opportunity, creating an Obama 'tax calculator' where any household can plug in their own income level, marital status, and number of children, and compare what their tax burdens would be under Obama versus under Romney. But is it fair?
Mitt Romney's tax plan may not hike taxes for the middle class, as the Obamam camp claims. Still, the plan is so full of contradictions that Mitt Romney won't be able to do everything he promises.
As it stands, Mitt Romney's tax reform proposal is a bad idea. But with a little tweaking, it could work.
Soon, the Senate will vote on the first of two competing efforts to temporarily extend tax cuts passed between 2001 and 2010. Neither the Democratic nor Republican measures will pass in the hyper-partisan Senate, but it is instructive to see how the measures stack up.
With a budget that encourages consumption rather than savings, the gap between the American Dream and reality will only widen, some at the Tax Policy Center fear. One solution: Rethink those tax subsidies that too often hinder mobility in the name of enhancing it.