Mitt cites “studies” supporting his economic claims, which turn out to be mostly blogs, editorials and a paper he wrote himself.
“Romney .. referenced five studies in an interview with Meet the Press on Sunday. His running mate, Rep. Paul Ryan (R-Wis.), said the same during his run through the Sunday show circuit. A closer examination, however, calls into question the fact that there are even five studies at all. Last week, the Romney campaign passed along the five documents that the candidate had referenced on NBC’s Meet the Press. Three of the five are blog posts or op-eds (as opposed to academic literature), and two of those three are written bythe same author: Harvard economist Martin Feldstein.
Of the remaining two studies, one is the tax reform white paper authored by Romney-backing economists and paid for by Romney for President, Inc. (in an email to PolitiFact, the Romney campaign highlighted several Wall Street Journal editorials in place of the campaign white paper as the “fifth” study). The final [and only actual] study, produced by Princeton University’s Harvey Rosen, backs the Romney campaign’s assertions by arguing that people will work more, accumulate more income, pay more taxes, and seek out fewer loopholes if their tax rates are lowered. But even that report has several nuances that complicate the candidate’s use of it.”
So this plan is paid for by taxes on future growth in revenues – while tax rates are being reduced. But taxes are not the only factors which affect growth. This is nothing more than a gamble. He could just as well be proposing to pay for the cuts with derivatives or Enron stock options.