Politicselection 2012PoliticsMitt Romney

The Real Reason Romney's Tax Math Doesn't Add Up

The Real Reason Romney’s Tax Math Doesn't Add Up
Jade Walker
By 

Overnight Editor, HuffPost

FILE - In this Sept. 6, 2012, file photo Republican presidential hopeful and former Massachusetts Gov. Mitt Romney talks about his plan for creating jobs and improving the economy during a speech in Las Vegas. As of Sept. 2012 the economy is weak and the job market brutal. Nearly 13 million Americans can't find work; the national unemployment rate is 8.1 percent, the highest level ever three years after a recession supposedly ended. Romney proposes to generate hiring by keeping income taxes low, slashing corporate taxes, relaxing or repealing regulations on businesses and encouraging production of oil and natural gas. (AP Photo/Julie Jacobson, File)
FILE - In this Sept. 6, 2012, file photo Republican presidential hopeful and former Massachusetts Gov. Mitt Romney talks about his plan for creating jobs and improving the economy during a speech in Las Vegas. As of Sept. 2012 the economy is weak and the job market brutal. Nearly 13 million Americans can't find work; the national unemployment rate is 8.1 percent, the highest level ever three years after a recession supposedly ended. Romney proposes to generate hiring by keeping income taxes low, slashing corporate taxes, relaxing or repealing regulations on businesses and encouraging production of oil and natural gas. (AP Photo/Julie Jacobson, File)

Mitt Romney’s tax plan has three key planks. He cuts personal income tax rates by 20 percent across the board; he eliminates deductions, exclusions and credits so that the deficit does not grow; and he doesn’t make the tax code any less progressive. Unfortunately, as the Tax Policy Center has shown, only two of these planks can co-exist.

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