BUSINESS
10/19/2012 12:38 pm ET

Bruce Bartlett, Ex-Reagan Adviser: Bain Capital Would Reject 'A Deal Structured Like Romney's Tax Plan'

Bruce Bartlett, a former economic adviser to President Ronald Reagan, says that an earlier Mitt Romney may have rejected the current Mitt Romney's tax plan.

Bartlett wrote this zinger on Twitter Friday:

The former Republican wrote in an op-ed in the Fiscal Times on Friday that Romney's latest tax plan would increase the deficit by at least $3 trillion. He added: "Clearly, a business deal that would cost $5 million and only recoup $2 million is one that Romney would have rejected out of hand in his days at Bain Capital."

Bartlett also criticized Romney's tax plan in a New York Times blog post on Tuesday, where he noted that Romney's proposals are unlikely to affect economic growth in a significant way, as the Romney campaign has claimed. "The idea that tax reform will jump-start an economy suffering from the after-effects of a cyclical downturn is nonsense," he wrote.

Romney's latest tax plan would increase the deficit by $3.7 trillion and give big tax cuts to the rich while raising taxes on the poor, according to the Tax Policy Center. Under Romney's latest tax plan, the average family in the top 0.1 percent would get a $496,115 tax cut, while the federal tax rate of the average family in the bottom 20 percent would rise by nearly two-thirds.

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