Romney Won’t Detail How He’ll Pay For Massive Tax Cuts
Elect him first, then he’ll tell you.
[Bob] SCHIEFFER: You haven’t been bashful about telling us yo want to cut taxes. When are you going to tell us where you’re going to get the revenue? Which of the deductions are you going to be willing to eliminate? Which of the tax credits are you going to — when are you going to be able to tell us that?
ROMNEY: Well, we’ll go through that process with Congress as to which of all the different deductions and the exemptions —
SCHIEFFER: But do you have an ideas now, like the home mortgage interest deduction, you know, the various ones?
ROMNEY: Well Simpson Bowles went though a process of saying how they would be able to reach a setting where they had actually under their proposal even more revenue, with lower rates. So, mathematically it’s been proved to be possible: We can have lower rates, as I propose, that creates more growth, and we can limit deductions and exemptions.