Fox News Turns on Romney and Criticizes His Impossible Tax Cut Math
Fox News Sundayâs Chris Wallace turned on the Romney campaign today, called out their bogus 6 studies statistic and criticized their tax cut math that doesnât add up.
Here is the video:
WALLACE: All right, letâs talk about what David Axelrod brought up in the question of taxes. In the vice presidential debate, Paul Ryan, once again, got roughed up for failing to explain how youâre going to pay for the 20% cut in tax rates by limiting deductions. Letâs take a look. Here it is.
RYAN: We want to work with congress on how best to achieve this, that means successful. What we are saying, lower tax rates 20%, start with the wealthy, work with congress to do it.
WALLACE: Ryan is saying, we donât want to get hemmed in. Letâs leave it to negotiations with congress to get into the details. Hereâs my question. Why is it all right to tell voters about the candy â hey, everybody is going to get a 20% tax cut, cut in their tax rates, but letâs not tell them about the spinach, which is youâre going to lose some deductions?
GILLESPIE: We have talked about losing deductionsâŚ
WALLACE: But you havenât given specifics.
GILLESPIE: Well, because Chris, in a campaign environment, to start negotiating in a campaign environment youâre going to lock in republicans, youâre going to lock in democratsâŚ
WALLACE: But you locked them in on the 20% tax rate.
GILLESPIE: I think people understand that that is a broad principle, that that tax rate needs to come down and we need to broaden the base. That is the principle, the principle is also that we are not going to change the share of taxes paid by upper income earners, and weâre going to give tax relief to the middle class and itâs going to be deficit neutral. You can do all of those things and have people understand that this election was about this and we need this kind of pro-growth tax reform agenda. And, then work out the details in the same way, by the way, Ronald Reagan did with Tip OâNeill with working across the aisle. Governor Romney has a proven record of being able to work across this aisle.
WALLACE: But youâre not explaining â because there are a lot of question from independent people â how do you pay for it? And you refuse say how youâre going to pay for it.
GILLESPIE: What we have said is that we are going to pay for it with these, by limiting deductions and loopholes â and, by the way, making sure for the middle class, that protecting the home mortgage deduction and other important deductions for them, but at the high end you would eliminate deductions and, you know, a lot of special interest loopholes that would allow you to bring down the rate 20%. Six different studies have said this is entirely doable.
WALLACE: Those are questionable, some of them are blogs, some of them are from the AEI, which is hardly an independent group.
GILLESPIE: These are very credible sourcesâŚ
WALLACE: One of them is from a guy who is â from a blog from a guy who was a top advisor to George W. Bush. These are hardly nonpartisan studies.
GILLESPIE: Well, Chris, I think if you look at Harvard an AEI and other studies, they are very credible sources for economic analysis.
WALLACE: You wouldnât say that AEI is a conservative think tank?
GILLESPIE: I would say it is a right-leaning think tank. That doesnât make it not credible.
WALLACE: Chris: It doesnât make it nonpartisan.
GILLESPIE: It does make it nonpartisan. Itâs not a partisan organization, I can tell you, there have been many instances where there have been things that AEI has come out with and said, that I didnât find to be necessarily helpful to the Republican Party.
Fox News has been complaining about the fact that Romney wonât give them specifics since the general election campaign started, but Chris Wallaceâs tough stance on Ed Gillespie shows how exasperated they have become with Romney.
What the Romney campaign doesnât get is that Fox News is on their side, and would spin any details they gave them in a way that would help the Romney campaign. Romney could announce that he is going pay for his tax cut by cutting all food assistance to children and seniors, get rid of Head Start, and he is will be charging everybody $25 a year for the right to use the words United States and Fox News would still spin it in his favor.
It was also a bit surreal to see Chris Wallace do what most of the supposedly âneutralâ mainstream media wonât do, by calling out Romneyâs 6 studies statistic as completely bogus.
The reality is that Roger Ailes and Fox News see Romneyâs lack of details as one of his major weaknesses. They know it could cost him the election. They are trying their best to help Romney out, but the Republican nomineeâs campaign is either too paranoid or stupid to accept their assistance.
It is looking like the real reason why Mitt Romney wonât give the details about his tax plan is because there arenât any. Romney might actually be telling the truth when he states that he is going to figure it out later with the Congress, but figuring it out later with the Congress is also political code for, âweâre not going to pay for this,â and that is a truth that the Romney campaign desperately does not want to admit.
The Fox News/Romney marriage should never be described as good. Much like most of the right, they are supporting Romney because he is the nominee. Chris Wallaceâs questioning of Gillespie was more proof that Mitt Romney doesnât trust Fox News, and Fox News doesnât trust Mitt Romney.
If they enforced bank regulations like they do park rules, we wouldn't be in this mess