Obama’s favorite attack on Romney is his claim that Romney’s tax plan involves a $5 trillion tax cut. As Romney pointed out during the debate, this simply ignores the fact that Romney advocates closing loopholes and limiting deductions along with reducing marginal rates. The Democrats can’t deny that, so they say that the numbers don’t add up, and there will be a large tax cut, albeit not $5 trillion. In support of that claim, they have cited an analysis by Princeton economist Harvey Rosen. They have a big problem, however: Professor Rosen says he has no idea what they are talking about.
Princeton professor Harvey Rosen tells THE WEEKLY STANDARD in an email that the Obama campaign is misrepresenting his paper on Romney’s tax plan:
"I can’t tell exactly how the Obama campaign reached that characterization of my work. It might be that they assume that Governor Romney wants to keep the taxes from the Affordable Care Act in place, despite the fact that the Governor has called for its complete repeal. The main conclusion of my study is that under plausible assumptions, a proposal along the lines suggested by Governor Romney can both be revenue neutral and keep the net tax burden on taxpayers with incomes above $200,000 about the same. That is, an increase in the tax burden on lower and middle income individuals is not required in order to make the overall plan revenue neutral."