One of the hard things about writing about Mitt Romney's tax plan is that no one really knows what it is. The cuts are well-specified, but they cost $480 billion in 2015 alone, or close to $5 trillion over 10 years. Romney says he'll make up the difference by cutting tax breaks. It's not clear that's possible, but more to the point, Romney hasn't specified how he'd cut breaks. He flirted with a $17,000 cap on deduction, and, as Suzy reports, has now upped that number to $25,000 or $50,000, but has only said that's a possibility, not his actual plan. At any rate, none of those policies are likely to bring in enough revenue to pay for his plan.
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