This guy is unreal. Lyin' Ryan had a chance AGAIN to explain the "math" [sic] in regard to his proposed tax plans, and he STILL won't tell us how it will work. The story is here:
[Ryan]"...what we're saying is, we're going to lower tax rates for everybody across the board by 20%, and we can pay for that without losing revenue by closing loopholes for people at the top end of the income scale. Everybody gets lower tax rates as a result. And you can keep these preferences for middle class taxpayers and have 20% lower tax rates."
No, you really can't. For one thing, Ryan makes it sound as if he can eliminate $1 trillion a year "in tax preferences," which in turn can finance tax cuts. But even putting aside the dubious nature of the figure itself, Romney has already said the home-mortgage-interest deduction, the health care deduction, and the charitable-contribution deduction are all off the table. If Ryan is serious about identifying $1 trillion a year in savings from deductions, loopholes, and exemptions, he's going to offer some details or it's impossible to take the rhetoric seriously. The arithmetic just isn't there.
For another, let's also not forget that the Romney-Ryan plan also calls for increased defense and entitlement spending, which the candidates can't even pretend to pay for.
The truth is, Willard and Little Paulie have NO IDEA how to make their tax policy work, and I'm not sure they really care about making it work. There's only one definition of "making it work" they'll accept:
It puts money into their pockets. That's all they care about.