Moments ago on live television, Mitt Romney surrogate Kay Bailey Hutchison explained how the math works in Mr. Romney's tax policy platform. In an interview with NBC's Chuck Todd, she provided the specifics that Romney has failed or refused to provide in months of campaigning.
Mr. Todd pointed out by way of background that Romney has been campaigning on a series of promises and pledges, and those include eliminating the estate tax and a 20% across the board decrease in tax rates. According to these promises, Mr. Todd said, there will be hundreds of billions of dollars in lost revenue per year with no explanation as to how to make up for it. He pointedly asked Ms. Hutchinson how Mr. Romney's plan will pay for these tax cuts and she said it will be offset by the added jobs in the economy.
That's what George W. Bush said when the Bush tax cuts went into effect. They were supposed to be paid for the same way. I guess that settles it. The Romney plan is based on the same "wing and a prayer" that was supposed to pay for the Bush tax cuts. And that worked out. Didn't it?