Mitt Romney on Wednesday told a crowd in Westerville, Ohio, not to expect a "huge cut in taxes" if he's elected president, because he meant to lower deductions and exemptions that would offset the effects of lowering tax rates. After months of promising across-the-board tax cuts of 20 percent, Romney appeared to acknowledge that his cuts wouldn't provide Americans with much of a pocket-book boost. Romney has also come under criticism for promising to cut taxes and close the budget deficit — a feat that many independent analysts say is mathematically implausible — and his concession about deductions and exemptions seemed to be aimed at President Obama's assertion that Romney has a problem with "arithmetic."
THE WEEK'S AUDIOPHILE PODCASTS: LISTEN SMARTER
- 43 TV shows to watch in 2014
- Here comes the Pentagon's newest space plane
- Let us now praise Billy Joel
- 3 horrific inaccuracies in Homeland's depiction of Islamabad
- 10 things you need to know today: October 25, 2014
- Extreme haunted houses: Inside Halloween's most terrifying new trend
- How to be the most productive person in your office — and still get home by 5:30 p.m.
- Everything you need to know about the voter ID controversy
- Why the government should pay every American child an allowance
- How 1,000-year lifespans could remake the economy
Subscribe to the Week