Wow. Dean Baker is rightly incensed.
This article in this AM’s WaPo reviews the R candidates’ tax plans, and leaves the impression that the fiscal impact of Perry’s plan will be “difficult for analysts to accurately predict.” The word “deficit” doesn’t even show up in the piece.
Perry’s tax plan lets you calculate your taxes two ways and pay the lowest amount. As he said in an interview last night with Larry Kudlow, everyone’s taxes will go down. (More accurately, they’ll either stay where they are or go down; see here).
That means we collect less revenue and the deficit goes up. Sure, you can tell stories about massive spending cuts and dynamic growth effects, but the newspaper should report the first-order, simple arithmetic truth here.
As I said earlier, if we fail to get even the simplest information like this correct, we’ll never be able to make informed choices.