The Mitt Romney campaign submitted this letter to the editor in response to my Ticker post today "The Real Reason Romney’s Tax Math Doesn't Add Up."
Josh Barro claims to be able to show what the Obama campaign has struggled to prove -- namely, that Governor Mitt Romney’s tax plan doesn’t add up. Barro rests his case on the Internal Revenue Service Statistics of Income report for 2009, claiming to apply Governor Romney’s plan to those statistics and coming to the conclusion that his plan, as currently constituted, cannot work.
There’s just one problem; Barro isn’t the first person to analyze Governor Romney’s tax plan using IRS data from 2009. In fact, Harvey Rosen, the John L. Weinberg Professor of economics and business policy at Princeton University and a public finance expert, also based his analysis on the same data but came to the opposite conclusion. Governor Romney’s tax plan works and the math adds up.
In fact, no fewer than six independent studies have confirmed the soundness of the Governor’s tax plan. Rather than wasting time trying to discredit the proposals of the Republican nominee, perhaps Mr. Barro and other journalists should investigate President Obama’s tax reform package. Or, more accurately, his lack of one.
Deputy Policy Director
Romney for President
I'll respond to this tomorrow.
Read more breaking commentary from Josh Barro and other Bloomberg View columnists and editors at the Ticker.