On Monday's Special Report (9/24/12), one topic was an Obama campaign ad alleging that Mitt Romney will raise taxes on the middle class by more than $2,000. Charles Krauthammer did his best to argue that that won't happen.
"The idea that you're going to end up with a tax increase on the middle class is a pure, is a conclusion based on assumptions about what Romney is going to do which simply aren't true. And the other half of that is Obama accusing, saying Romney is going to lower taxes on the rich.
Now as we saw in the clip earlier in the show, Romney trying to explain on the airplane, that he wants to lower the rates on the rich, but he has made a pledge that the absolute amount, the amount of revenue overall that the rich will pay or the share of the revenue that the rich are paying will remain the same."
Juan Williams said, "If you lower the rates, you pay less. I don't think it's a secret… The thing that stands out from the 60 Minutes interview? They kept asking him what loopholes, what deductions? He would not say.”
Bret Baier stepped in on Romney's behalf: "He said that you work with Congress on the specifics and you work this out."
Williams responded, "(Romney) said something about the angels are in the policy, ignore the devil in details."
Romney's tax plan sure is regressive. As Think Progress explains, after analyzing a report from the Tax Policy Center at the Brookings Institution.
In fact, if Romney were to actually implement his plan to reduce tax rates by 20 percent while eliminating tax deductions in order to pay for it, taxpayers with more than $200,000 would certainly see a tax cut. But everyone else — 95 percent of Americans — will see their taxes increase. And this result occurs even assuming that Romney would eliminate tax deductions so as to make the tax as progressive as possible:
Millionaires save thousands, while the middle class pays more. Krauthammer is wrong.