Former President Bill Clinton cut a video on behalf of President Obama seeking to debunk the vague details of Mitt Romney’s tax plan.

The Obama campaign has frequently attempted to characterize Romney’s plan as one that will provide a windfall to the wealthiest Americans and shift the tax burden onto the middle class. Obama has also repeated the conclusions of a number of analysts in attacking the blueprint as one that can not possibly remain deficit neutral, as Romney claims. Romney has said that he’ll make up for lost revenue by eliminating tax loopholes, but he’s refused to specify which ones, a detail that has left him open to criticism.

President Clinton is taking a couple of minutes to explain how Romney’s $5 trillion tax cut – which Romney claimed didn’t exist in the last debate — gives multimillionaires like him a new $250,000 tax cut, even with closing upper-end loopholes and deductions. He also details how it is mathematically impossible to pay for the $5 trillion tax cut without cutting deductions for the middle class, like the home mortgage, charitable, and state and local taxes deductions. In this new video, President Clinton notes that Romney is now cynically hiding the existence of the tax cut because he knows the only way to pay for it is to raise taxes on the middle class. While Romney continues to deceive Americans about his tax plan, President Clinton reminds them to rely on

“arithmetic over illusion…in other words, facts matter.”

In the video…Clinton also says that

We simply cannot afford to give another round of tax cuts to people who got the benefit of the tax cuts and the economic growth of the last decade, it hasn’t worked before, and it won’t work this time.

It’s actually pretty easy to explain Mitt’s math…here is my explanation for it:

For me:   1 + 1 = 3

• The Congressional referee – the Joint Committee on Taxation says Romney’s plan is impossible HERE.
• The former McCain economic adviser and current chief economist for Moody’s says the arithmetic “doesn’t work” HERE.
• Politifact says Romney’s claim that 5 independent studies corroborate his math is “mostly false” HERE.
• A Fox “journalist” actually says “How can you not tell the people these facts” HERE.
• An independent study by the Brookings institution says Romney’s tax plan isn’t mathematically possible HERE.
• Factcheck.org says his math is impossible in Romney’s Impossible Tax Promise.
• I’ve given a very simple explanation that Romney’s plan will in fact cut taxes for the wealthiest Americans HERE.
• The Tax Policy Center says Romney’s plan is a $5 trillion tax cut which would give anyone making more than $1 million a year at least an $87k tax cut HERE.

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