Mitt Romney Takes Some Tax Deductions Off the Table

For indispensable reporting on the coronavirus crisis and more, subscribe to Mother Jones' newsletters.


I see that Wolf Blitzer almost managed to get a straight answer out of Mitt Romney a couple of days ago about which deductions he’d eliminate to make up for the $5 trillion in across-the-board tax rate cuts that he’s promised. Or, rather, he almost managed to get Romney to take a couple of deductions off the table. “Let’s go through how you would do that,” Blitzer said. “Specifically, home mortgage deductions, charitable contributions. Are you ready to remove those?” Romney filibustered for a bit and then said:

With regards to the deductions you describe, home mortgage interest deduction and charitable contributions, there will of course continue to be preferences for those types of expenses.

Hmmm. “Preferences” is still a bit weasel wordy, but it sure sounds like he’s promising not to touch those items. In other words, he’s making his promise of revenue neutrality ever more ridiculous with every passing day. All that’s left is for someone to ask him whether he’s willing to start taxing healthcare benefits. If he says no, that would pretty much take off the table every single tax expenditure of any serious size. There’s just nothing left to balance out his rate cuts for millionaires.

Thank you!

We didn't know what to expect when we told you we needed to raise $400,000 before our fiscal year closed on June 30, and we're thrilled to report that our incredible community of readers contributed some $415,000 to help us keep charging as hard as we can during this crazy year.

You just sent an incredible message: that quality journalism doesn't have to answer to advertisers, billionaires, or hedge funds; that newsrooms can eke out an existence thanks primarily to the generosity of its readers. That's so powerful. Especially during what's been called a "media extinction event" when those looking to make a profit from the news pull back, the Mother Jones community steps in.

The months and years ahead won't be easy. Far from it. But there's no one we'd rather face the big challenges with than you, our committed and passionate readers, and our team of fearless reporters who show up every day.

Thank you!

We didn't know what to expect when we told you we needed to raise $400,000 before our fiscal year closed on June 30, and we're thrilled to report that our incredible community of readers contributed some $415,000 to help us keep charging as hard as we can during this crazy year.

You just sent an incredible message: that quality journalism doesn't have to answer to advertisers, billionaires, or hedge funds; that newsrooms can eke out an existence thanks primarily to the generosity of its readers. That's so powerful. Especially during what's been called a "media extinction event" when those looking to make a profit from the news pull back, the Mother Jones community steps in.

The months and years ahead won't be easy. Far from it. But there's no one we'd rather face the big challenges with than you, our committed and passionate readers, and our team of fearless reporters who show up every day.

We Recommend

Latest

Sign up for our newsletters

Subscribe and we'll send Mother Jones straight to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate

We have a new comment system! We are now using Coral, from Vox Media, for comments on all new articles. We'd love your feedback.