Flawed criticism of Mitt Romney’s tax plan
Regarding the Aug. 19 editorial “Mr. Romney’s ‘garbage,’ ” which criticized Republican presidential candidate Mitt Romney’s tax reform package:
The editorial relied on claims from a Tax Policy Center (TPC) study that were simply incorrect. The study’s authors disregarded the economic effects of corporate tax reform and underestimated the revenue effects of tax reform caused by changes in individual behavior and by economic growth. Moreover, as the editorial noted but did not explain, the TPC study was rightly criticized for failing to include certain tax expenditures; the omission was so significant that the TPC was compelled to issue a second report. In fact, if one puts aside the TPC’s view and considers only the data, it is possible to accomplish tax reform without increasing the deficit and sacrificing tax fairness.
Mr. Romney’s tax reform plan exists (President Obama says we must wait for his second term to hear his), and contrary to claims from the TPC and The Post, it is possible to accomplish what Mr. Romney has proposed.
Glenn Hubbard, New York
The writer, the chairman of the Council of Economic Advisers under President George W. Bush, is dean of Columbia Business School and an economic adviser to Mitt Romney.