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The Real Story About Romney’s Tax-Cut Plan

Republican presidential candidate Mitt Romney speaks during the first Presidential debate at the University of Denver.
Republican presidential candidate Mitt Romney speaks during the first Presidential debate at the University of Denver. Photograph by Chip Somodevilla/Getty Images

At times the Oct. 3 presidential debate resembled a restaging of Monty Python’s “Argument Clinic” sketch—the one in which the two combatants spend the whole time saying “Yes, it is” and “No, it isn’t.”

For viewers at home, the most frustrating interchange was over Republican candidate Mitt Romney’s tax-cut plan. President Barack Obama repeatedly said Romney was proposing a $5 trillion tax cut, and Romney repeatedly said he wasn’t. Obama said Romney couldn’t cut taxes as much as he wants to without increasing the budget deficit. Romney said he could. It was a lot of “automatic gainsaying of anything the other person says,” as the Monty Python skit had it.