Mitt Romney already had a simmering Dooh Nibor problem, reverse Robin Hood, as in give to the rich and take from the rest. Fresh off a series of overseas gaffes team Romney decided to tap his Wile Coyote, super fnancial genius, credentials. They miscalculated, badly, in more ways than one, and the plan they released has now been widely panned:
Ezra Klein — To help Romney, the center did so under the most favorable conditions, which also happen to be wildly unrealistic. The analysts assumed that any cuts to deductions or loopholes would begin with top earners, and that no one earning less than $200,000 would have their deductions reduced until all those earning more than $200,000 had lost all of their deductions and tax preferences first. They assumed, as Romney has promised, that the reforms would spare the portions of the tax code that privilege saving and investment. They even ran a simulation in which they used a model developed, in part, by Greg Mankiw, one of Romney’s economic advisers, that posits “implausibly large growth effects” from tax cuts.
The numbers never worked out. No matter how hard the Tax Policy Center labored to make Romney’s promises add up, every simulation ended the same way: with a tax increase on the middle class. The tax cuts Romney is offering to the rich are simply larger than the size of the (non-investment) deductions and loopholes that exist for the rich. That’s why it’s “mathematically impossible” for Romney’s plan to produce anything but a tax increase on the middle class.
A plan that cuts Romney and his super rich pals a huge check at the expense of raising the deficit and increasing taxes on middle class taxpayers. That’s about as big a political blunder as Romney could make at this point in his campaign and still be wearing clothes. It’s such a fuck up that it’s hugely convenient for rivals, and that warrants at least some skepticism that the plan could really that bad.
It’s that bad.
I spent a good chunk of last night and some more time this morning crunching numbers under various assumptions, plus checking the work of others as much as possible in that short period of time . Granted, I’m no expert, but I’m not totally out of my league either: I have a rock-solid background in finance and mathematics. And every scenario I’ve seen along with those wild approximations I tried myself all came out the same. The only one clear way Romney’s plan does not increase the deficit and does not increase taxes on at least some middle class taxpayers is if it is never enacted.
The deal with Bain, both taxes and outsourcing, the overseas hits, superficial but still germane, and now this have changed my mind on where this thing is headed. Whereas a month or two ago I was guessing Romney had a slightly better than 50-50 chance of winning, I’d now say Obama has that same edge. And there’s a long shot outlier that Romney’s numbers could suffer a significant collapse if these self-inflicted wounds continue fester, or if another item pops up that goes against Mittens.
Oh, numbers and facts. Liberals can prove anything with numbers and facts. Where is Jesus in all your numbers, huh? Didn’t account for that variable, huh?
– Predicted response.
As Stephen Colbert noted years ago, “The facts have a well-known liberal bias.” What continues to amaze is how completely obtuse Rmoney is. You would think that he could at least learn to fake a human attitude. Seriously,might he have Aspberger’s Syndrome? This is an autism spectrum disorder where the afflicted has fully functioning intellectual tools, but no capacity for empathy.
SOCIALIST REDISTRIBUTION OF WEALTH!! 1!
Oh wait, that only works if poor people get the money.
At this point, I don’t know which is worse for Romney’s campaign: When he refuses to release details for his plans or when he actually does.
If Romney does get top doggy slot…and enacts his genius…he would be impeached by the rather pissed off blatantly lied to middle classes.
There are a few more of them then the super rich or the tea party together I would imagine!
@anubisprime, #5:
Sadly, Jay Gould wrote the solution to that problem over a century ago:
Progressives and democrats have been laboring for almost a century to paint the republicans as the party of oligarchs and robber barons–which of course they are, and becoming moreso by the decade–but most of the working and middle classes just don’t seem to be buying it. Many reasons for this, but I think the basic one is: the republicans have successfuly painted themselves as the party of patriotism, piety and traditional values–and thus equated progressivism with radicalism, godlessness and intellectual elitism. This still strikes a mighty chord with most Americans. Of course, both parties are still a bit inept at actually running a country, but due to those cultural factors, the edge is going to tend to go with the cons. Advantage: Romney.
No, since campaign lies aren’t crimes. An impeachment is a criminal charge.
No, that’s not what Asperger’s Syndrome is. Those without empathy are typically called “sociopaths”. Asperger’s Syndome =/= sociopathy. Empathy still exists in those with Asperger’s, but often without the assistance of the social skills to properly express it.
@John brown(#2):
What you describe is considered sociopath behavior. People with ASS have empathy it is that they have trouble expressing it instead of not giving a shit.