For a party that shredded John Kerry for being a flip-flopper, it's amazing what a flip-flopper they have this year. Not only can he not stay consistent with any position, he can't even say how much his tax plan will cost or if it will add to the deficit. What is potentially interesting about his CNBC interview is that he sounds open to changing the tax code for people like himself. We all know how he can change his position but it sure sounds like Romney is trying to move to the middle and win over the independent voters who will decide the outcome in November.
Romney said he was surprised that such assertions were being made because his plan "can't be scored." He says he'll have to work with Congress on the details before he can estimate how much the plan will cost. Romney previously has insisted that his plan to cut marginal individual tax rates by 20 percent won't increase the deficit because he would limit deductions and exemptions for the wealthy. He hasn't outlined what those changes would be, and says he'll work with Congress. Romney, a former private equity executive, also said he is open to examining the taxation of some investment fund managers, including the treatment of their "carried interest" gains.The carried interest gains tax rate has to change. People using this (like Romney) are not using their own money to gamble, so there's no reason why they should have all of the advantages. It's done little more than make hedge fund types wads of cash as though they were risking their life savings, but they weren't. On this issue, Romney is playing catchup to Obama who has already called for an end to this tax break.