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Until Romney releases details on what deductions he plans to remove it is a $5 trillion tax cut. Not to mention his "tax cut" does nothing to help the 47% of people who pay no income tax, but pay plenty of payroll taxes. It could actually reduce or get rid of some of their deductions increasing their tax rate due to suddenly being obligated to pay income taxes, without any change to their payroll tax rate. There have been reports of study after study showing that Romney can't possibly pay for that magnitude of a tax reduction without either taking a loss in federal revenue or raising taxes on one bracket or another. There simply aren't enough deductions to make $500 billion a year. Romney's tax plan still doesn't work.
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