Here is the thing - we keep hearing from libs that Romney doesn't have a plan. They say that Romney/Ryan cannot explain their plan. it was said in the comments here that the plan on their web site has no information in it. So how does a supposedly non-existent plan with no information add up to $5 trillion? We have Obama's own campaign flip-flopping (sorry, evolving, because Obama and his surrogates don't flip-flop, they evolve) one minute saying it is $5T, the next it will not be $5T then it is $5T on a plan that supposedly does not exist but does exist to not have much information. Who are we to believe, CNN, Politico, or Obama's campaign? I don't know which of their evolvings I am to believe.
Previously, Governor Romney has said that his tax plan would cut all individual income tax rates by 20%, eliminate the AMT, eliminate the estate tax, and eliminate taxes on investment income for low- and middle-income taxpayers. He would also extend all of the Bush-era tax cuts that are scheduled to expire at the end of 2012.
Those tax cuts would reduce federal revenues by $480 billion in 2015 over and above the cost of extending the Bush tax cuts. Allow for some growth in income, and the total comes to over $5 trillion over ten years.