The problem is, those deductions don't come close to covering the costs of his tax plan.
"And they won't name those deductions, not a single deduction that they will close because they know that is bad for their politics..
If they attempt to close other deductions and loopholes, more interest groups and lobbyists will descend on Gucci Gulch and demand that those pet provisions be protected, too.
When it comes to corporate taxes, Governor Romney has said he wants to, in a revenue-neutral way, close loopholes, deductions -- he hasn't identified which ones they are -- but thereby bring down the corporate rate.
We can then set up a structure whereby we are dealing with tax reform, closing deductions, closing loopholes, simplifying, dealing with entitlements.
He also mentioned the need for public investment in nutrition and education for poor youngsters and infrastructure repair and implied we might pay for it by closing tax deductions such as those for second-home mortgages.
Or consider one of the sharpest, most important points Obama made during the last debate: It just reminds me of, you know, he says that he's going to close deductions and loopholes for his tax plan.
In the past, Romney has pledged to close loopholes and deductions for wealthier Americans but been vague about which ones.
But when Governor Romney says that he'll replace it with something but can't detail how it will be in fact replaced, and the reason he set up the system he did in Massachusetts is because there isn't a better way of dealing with the pre-existing conditions problem, it -- it just reminds me of -- you know, he says that he's going to close deductions and loopholes for his tax plan.
Of course, Hubbard also stuck to the standard conservative line, that we should not raise marginal tax rates on the wealthy, but instead close loopholes and deductions and such.
