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Brill article
The Romney Tax Plan: Not a Tax Hike on the Middle Class
RELATED ARTICLES
Explain
⌅
Visualizing the Romney Tax Debate
Visualizing the Romney Tax Debate☜Tax reform has emerged as a major bone of contention in the 2012 Presidential election campaign. While President Obama has identified some tax changes, Governor Romney proposes major systemic reform. But is his plan - especially the proposals for individual taxation - viable?☜F1CEB7
⌃
Romney's plan stated
Romney's plan stated☜For individual taxation, Romney proposes rate cuts for all taxpayers to be funded by reducing or eliminating various tax preferences. His plan aims to do this without raising the tax burden on low and middle income taxpayers, defined as $200,000 or less. It also abolishes several other taxes.☜59C6EF
⌃
But does it compute?
But does it compute?☜In early August the Tax Policy Center produced an analysis showing that achieving all the goals of the Romney plan is mathematically impossible. Romney cited six studies in reply. Economists, journalists, bloggers and others then joined in on both sides. So is the plan mathematically possible?☜FFB597
⌃
Yes - it does compute
Yes - it does compute☜In the Presidential debates Obama referred to the TPC finding that Romneys individual tax plan did not add up. Romney responded by citing six studies that, he claims, refute the TPC. As discussed in the parent But does it compute? node, we have decided to make the No case the main locus.☜59C6EF
⌃
The cited studies
The cited studies☜Each study cited by the Romney camp is added here, with each identified simply by author surname and item type (article, paper, simulation etc). No attempt is made here to parse their argumentation - that is done in the map of the No case - to relevant locations in which each item is linked.☜98CE71
■
Brill article
Brill article☜The Romney Tax Plan: Not a Tax Hike on the Middle Class☜98CE71
⇤
The critics challenge
The critics challenge☜Critics of the TPC analysis question the exclusion of two major tax preferences - the exclusion of interest on state and local bonds and the exclusion of inside-buildup on life insurance vehicles. According to the TPC eliminating these exclusions could raise $45 billion in tax revenue.☜FFFACD
⇤
Brill - small is enough
Brill - small is enough☜Some commentators point out that only a small dynamic growth effect is needed by the Romney plan - especially when such an effect is considered in conjunction with putting some tax preferences excluded by the TPC back on the table.☜FFFACD
⇤
Brill - what about capital formation
Brill - what about capital formation☜Alex Brill has responded to the TPCs quotation of his paper. While accepting the point about labor supply, he claims that tax reform of the Romney type would lead to increased capital formation and improved allocation of resources in the economy which would boost growth.☜FFFACD
⇤
Obamacare inclusion
Obamacare inclusion☜The revenue baseline is inflated. The TPC included in its baseline Obamacare taxes which Romney has not pledged to offset. This point is conceded by some defenders of the TPC analysis such as Josh Barro (see citation).☜FFFACD
□
Diamond simulation
Diamond simulation☜The Economic Effects of the Romney Tax Plan☜98CE71
□
Dubay paper
Dubay paper☜Tax Policy Center’s Skewed Analysis of Governor Romneys Tax Plan☜98CE71
□
Entin and McBride simulation
Entin and McBride simulation☜Simulating the Economic Effects of Romneys Tax Plan☜98CE71
□
Feldstein article
Feldstein article☜Martin Feldstein: Romneys Tax Plan Can Raise Revenue☜98CE71
□
Feldstein revision
Feldstein revision☜A reply from Martin Feldstein☜98CE71
□
Jensen article
Jensen article☜How the Tax Policy Center could improve its Romney tax study.☜98CE71
□
Rosen paper
Rosen paper☜Growth, Distribution and Tax Reform: Thoughts on the Romney Proposal.☜98CE71
□
Graph of this discussion
Graph of this discussion☜Click this to see the whole debate, excluding comments, in graphical form☜dcdcdc
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Peter Baldwin
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Entry date (GMT):
10/31/2012 4:52:00 AM
Last edit date (GMT):
10/31/2012 6:16:00 AM
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