It didn’t take 24 hours before President Obama came out with an ad slamming his opponent, Mitt Romney, for failing to speak honestly about his tax policy.
Romney claims that it’s simply not true that he’s calling for a $5 trillion tax cut.
But the fact is, Romney wants a 20 percent reduction in the tax rates.
According to the non-partisan Tax Policy Center, that works out to $480 billion a year or $4.8 trillion after 10 years.
Romney has flat-out refused to explain how he would pay for it, other than to say he would eliminate deductions. He said his plan is budget neutral. But if it’s really budget neutral, why do it? If Romney’s policy is simply shoveling money from one bucket to another, what’s the point?
Here’s Obama’s new ad attacking Romney’s lack of details.