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Chris Wallace falsely claims it’s ‘not true’ Romney proposed $5 trillion tax cut

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Fox News host Chris Wallace on Sunday agreed with GOP hopeful Mitt Romney’s claim during last week’s presidential debate that the Republican nominee had not proposed a $5 trillion tax cut.

“I don’t have a $5 trillion tax cut,” Romney had said on Wednesday. “I don’t have a tax cut of a scale that you’re talking about.”

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“Both sides since the debate have been saying that the other candidate is lying about his position,” Wallace told Maryland Gov. Martin O’Malley (D) on Sunday. “The president keeps saying that Mitt Romney is proposing a $5 trillion tax cut. That’s not true.”

“Wait a minute here,” O’Malley replied. “Former Gov. Romney is proposing a 20 percent cut to income taxes, including income taxes for the wealthiest Americans. And I believe a 30 percent cut for corporate income taxes, including for people like big oil that are socking all of us at the pump right now. Any economist can debate whether that adds up to $4.9 trillion or does it add up to $5 trillion? But the fact of the matter is in this debate, we saw Big Bird meet the big lie.”

Wallace argued that O’Malley was “mischaracterizing” Romney’s plan because the former Massachusetts governor had promised to make the tax cuts revenue neutral by closing loopholes, although he has refused to say which loopholes.

“Gov. Romney has not said what he secret plan is for paying for these $5 trillion tax cuts,” O’Malley explained. “Just like he won’t talk about what his tax returns have been or how much money he’s sheltering offshore.”

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An analysis by the the non-partisan Tax Policy Center concluded that Romney’s plan would reduce revenue by $480 billion in 2015 and $5 trillion over 10 years.

Watch this video from Fox News’ Fox News Sunday, broadcast Oct. 7, 2012.

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Enjoy this piece?

… then let us make a small request. Like you, we here at Raw Story believe in the power of progressive journalism — and we’re investing in investigative reporting as other publications give it the ax. Raw Story readers power David Cay Johnston’s DCReport, which we've expanded to keep watch in Washington. We’ve exposed billionaire tax evasion and uncovered White House efforts to poison our water. We’ve revealed financial scams that prey on veterans, and efforts to harm workers exploited by abusive bosses. We’ve launched a weekly podcast, “We’ve Got Issues,” focused on issues, not tweets. Unlike other news sites, we’ve decided to make our original content free. But we need your support to do what we do.

Raw Story is independent. You won’t find mainstream media bias here. We’re not part of a conglomerate, or a project of venture capital bros. From unflinching coverage of racism, to revealing efforts to erode our rights, Raw Story will continue to expose hypocrisy and harm. Unhinged from corporate overlords, we fight to ensure no one is forgotten.

We need your support to keep producing quality journalism and deepen our investigative reporting. Every reader contribution, whatever the amount, makes a tremendous difference. Invest with us in the future. Make a one-time contribution to Raw Story Investigates, or click here to become a subscriber. Thank you.



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2012

Here are 7 wild, bizarre and pathetic moments from Trump’s ‘campaign launch’

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On Tuesday night, President Donald Trump held a rally that was billed as the official launch his re-election campaign — though he has never really stopped holding campaign rallies.

As expected, the president ranted, lied, and engaged in the raucous attacks that are central to his connection with Republican voters. Some of it was actually just sad, such as his continued obsession with Hillary Clinton.

Here are seven of the wildest, disturbing and pathetic moments from the rally:

1. He said Democrats "want to destroy our country as we know it."

Trump casually accuses Democrats of "want[ing] to destroy you and they want to destroy our country as we know it." pic.twitter.com/4K79KlbEeR

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2012

British PM candidates clash over Brexit as Boris Johnson skips debate

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Candidates to become Britain's next prime minister clashed over Brexit strategy at their first debate on Sunday but the frontrunner, Boris Johnson, dodged the confrontation.

The 90-minute debate on Channel 4 featured the five remaining candidates and an empty podium for Johnson, the gaffe-prone former foreign secretary and former mayor of London.

In sometimes ill-tempered exchanges, four of the five candidates said they would seek to renegotiate the draft Brexit divorce deal agreed with Brussels even though EU leaders have repeatedly ruled this out.

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2012

Michael Cohen ordered back to Congress on March 6

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President Donald Trump's so-called "fixer" is being asked to return to Congress for more questioning on March 6.

Outside of the closed-door committee hearing Thursday, Cohen said that the House Intelligence Committee is seeking further information, according to Washington Examiner writer Byron York.

Michael Cohen finished closed-door testimony before House Intel Committee, says he's coming back for another session March 6. Again: No reason for secrecy. Transcripts should be released ASAP.

— Byron York (@ByronYork) February 28, 2019

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