Tuesday, September 11, 2012
The left-leaning Tax Policy Center recently gave the Obama Administration a bit of political ammunition when they attempted to study Mitt Romney’s vague tax plan and found a scenario in which Romney’s campaign promises would force him to raise taxes on the middle class. While there was some controversy to the results – the American Enterprise Institute had a fairly large issue with which deductions that the TPC used, and forced a projections update – but the report nonetheless made an impact.
Conspicuously missing from the discussion over the Romney tax proposals has been any attempt to emphasize reform’s effect on the economy. After all, if the Romney tax plan is growth-enhancing, short-term revenue estimates must be balanced with the fact that, over the long term, the fastest-growing economy will produce the most tax revenue, period.