Paul Ryan appeared on Fox News on Sunday morning with Chris Wallace and was asked about the Romney/Ryan tax plan, which promises to cut everyone’s federal taxes by 20% across the board without decreasing federal revenue and thus increasing the deficit. But when asked how they would do that, darn the luck, he just didn’t have time:
WALLACE: So how much would it cost?
RYAN: It’s revenue neutral…
WALLACE: No no, I’m just talking about cuts. We’ll get to the deductions, but the cut in tax rates.
RYAN: The cut in tax rates is lowering all Americans’ tax rates by 20 percent.
WALLACE: Right, how much does that cost?
RYAN: It’s revenue neutral.
WALLACE: But I have to point out, you haven’t given me the math.
Ryan: No, but you…well, I don’t have the time. It would take me too long to go through all of the math. But let me say it this way: you can lower tax rates by 20 percent across the board by closing loopholes and still have preferences for the middle class. For things like charitable deductions, for home purchases, for health care. So what we’re saying is, people are going to get lower tax rates.