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this was where i thought romney clearly outpointed Obama. he was able to indicate a willingness to cap tax deductions of the wealthy, compare himself to reagan, show why Obama is an ineffective leader ... and importantly, provide a logical explanation why he focuses on the big picture rather than the way it will be implemented. but significantly, he also illustrated he is able to consider an array of divers ways to achieve his fundamental principles, by pointing out the viable options to implement this one (tax deduction limits):I have to say I don't buy Romney's excuse about specifics. At this point there are only two possible reasons that he doesn't reveal them, other than it makes it almost impossible to criticize a vague and amorphous plan. The first, and most likely in my opinion, is that he does have specifics in mind and either they don't really accomplish what he claims(many say the growth he forecasts to remain revenue neutral is unrealistic), or they have drawbacks that would hurt him badly with the middle class. The other possibility, is that he hasn't looked at the specifics yet. If this is the case, how can he even be sure what he claims he will do is within the realm of possibility? I don't entirely discount this possibility because I've seen businessmen before who take this "We'll make it work" approach, usually to disastrous consequences. If Romney does have specifics in mind, there is absolutely no excuse for him not to furnish them. He is trying to work both ends on policy since we can't point to any actual national financial record such as Obama's first term and he won't even specify what he believes is the solution. Too bad Obama couldn't have ceded as much of his own time as Mitt needed to explain his plans in detail. I'm betting you still wouldn't have gotten an answer even if he was given an hour.
ROMNEY: Which is -- which is my experience as a governor is if I come in and -- and lay down a piece of legislation and say, "It's my way or the highway," I don't get a lot done. What I do is the same way that Tip O'Neill and Ronald Reagan worked together some years ago. When Ronald Reagan ran for office, he laid out the principles that he was going to foster. He said he was going to lower tax rates. He said he was going to broaden the base. You've said the same thing, you're going to simplify the tax code, broaden the base.
Those are my principles. I want to bring down the tax burden on middle-income families. And I'm going to work together with Congress to say, OK, what -- what are the various ways we could bring down deductions, for instance? One way, for instance, would be to have a single number. Make up a number, $25,000, $50,000. Anybody can have deductions up to that amount. And then that number disappears for high-income people. That's one way one could do it. One could follow Bowles-Simpson as a model and take deduction by deduction and make differences that way. There are alternatives to accomplish the objective I have, which is to bring down rates, broaden the base, simplify the code, and create incentives for growth.