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October 16th, 2012
12:25 AM ET
KTH: Basis for Romney's tax plan questioned
Anderson Cooper takes a closer look at studies behind Mitt Romney's tax plan and why critics say the math doesn't add up.
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Post by: Anderson Cooper Filed under: 2012 Election • Keeping Them Honest • Mitt Romney • Taxes |
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Please help me understand Gov. Romney's tax plan. What I understand is that he will lower the tax rate by 20% and eliminate deductions to keep the revenue coming in. To me this means that some people will pay less and others will pay more. Doesn't this effectively raise taxes for some? Given that he won't talk about what deductions will be eliminated, it's impossible to know who will pay more but it seems clear that his tax plan will, in fact, raise taxes for some. Can anyone help me understand this?