The Obama campaign has blasted the Romney-Ryan ticket for not providing detailson how it would give Americans such large tax breaks without growing the deficit. Ryan reiterated in an interview on "Fox News Sunday" that the plan would drop taxpayers' bills by 20 percent without costing a dime, due to closed tax loopholes, but he was short on specifics when pressed by host Chris Wallace.
“You haven’t given me the math,” Wallace said in one exchange.
“I don’t have the ... It would take me too long to go through all of the math,” Ryan responded.
“But let me say it this way,” he went on. “You can lower tax rates 20 percent across the board by closing loopholes and still have preferences for the middle class for things like charitable deductions, home purchases, for health care. What we’re saying is people are going to get lower tax rates and therefore they will not send as much money to Washington.”
Wallace played a clip of President Barack Obama mocking the Romney campaign’s lack of details on the loopholes while on the campaign trail. “No matter how many times they tell you they’re gonna start talking specifics really soon, they don’t do it,” Obama said. “And the reason is because the math doesn’t work.”
A report from the Tax Policy Center found that Romney’s tax plan would actually raise taxes on many middle-class Americans, although the Romney campaign has dismissed the report as partisan.