Fact Check: Romney Told 27 Myths in 38 Minutes During the Debate
October 4, 2012 |
Pundits from both sides of the aisle have lauded Mitt Romney’s strong debate performance, praising his preparedness and ability to challenge President Obama’s policies and accomplishments. But Romney only accomplished this goal by repeatedly misleading viewers. He spoke for 38 minutes [2] of the 90 minute debate and told at least 27 myths:
1) “[G]et us energy independent, North American energy independent. That creates about 4 million jobs”. Romney’s plan for “energy independence” actually relies heavily on a study that assumes the U.S. continues with fuel efficiency standards set by the Obama administration. For instance, he uses Citigroup research based off the assumption that “‘the United States will continue with strict fuel economy standards that will lower its oil demand.” Since he promises to undo the Obama administration’s new fuel efficiency standards, [3] he would cut oil consumption savings of 2 million barrels per day by 2025.
2) “I don’t have a $5 trillion tax cut. I don’t have a tax cut of a scale that you’re talking about.” A Tax Policy Center analysis of Romney’s proposal for a 20 percent across-the-board tax cut in all federal income tax rates, eliminating the Alternative Minimum Tax, eliminating the estate tax and other tax reductions, would reduce federal revenue $480 billion in 2015. This amounts to $5 trillion over the decade.
3) “My view is that we ought to provide tax relief to people in the middle class. But I’m not going to reduce the share of taxes paid by high-income people.” If Romney hopes to provide tax relief to the middle class, then his $5 trillion tax cut would add to the deficit. There are not enough deductions in the tax code that primarily benefit rich people to make his math work.
4) “My — my number-one principal is, there will be no tax cut that adds to the deficit. I want to underline that: no tax cut that adds to the deficit.” As the Tax Policy Center concluded [4], Romney’s plan can’t both exempt middle class families from tax cuts and remain revenue neutral. “He’s promised all these things and he can’t do them all. In order for him to cover the cost of his tax cut without adding to the deficit, he’d have to find a way to raise taxes on middle income people or people making less than $200,000 a year,” the Center found [5].
5) “I will not under any circumstances raise taxes on middle-income families. I will lower taxes on middle-income families. Now, you cite a study. There are six other studies that looked at the study you describe and say it’s completely wrong.” The studies Romney cites actually further prove [6] that Romney would, in fact, have to raise taxes on the middle class if he were to keep his promise not to lose revenue with his tax rate reduction.