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Cutter Admits to $5T Tax Cut Lie

BEGIN TRANSCRIPT

RUSH: Watching Obama in Cleveland now in the rain at a campaign appearance, repeating everything he said in Virginia this morning.  And it's filled with just pure idiocy.  "We have to increase enrollment at junior college about two million to bring down tuition costs."  What?  You increase enrollment two million at junior college to bring down tuition costs?  These idiots in the crowd applaud.  There are people in Big Bird suits showing up at Romney events.  You know, if I were in the Romney campaign, I'd get a bunch of people dressed up as Jim Lehrer and show up at Obama events.  Okay.  He also repeated this lie that Romney wants to cut taxes for the rich $5 trillion.  Nobody has ever proposed that.  The only guy who has any relationship to $5 trillion in this country is Obama, and he spent it and added it to the national debt. 

Last night on Erin Burnett Out Front on CNN, she interviewed Stephanie Cutter who is the chief spokesbabe for Obama-Biden.  She said, "Here at CNN we fact checked that five trillion in tax cuts line and that's not true. Mitt Romney has not promised that because he's going to also be closing loopholes and deductions, so his tax cut wouldn't be anywhere near that size."

CUTTER:  He's campaigned on lowering tax rates by 20% for everybody, including those in the top 1%.  That was one of the main selling points in the Republican primary.

BURNETT:  Right.  So you're saying if you lower them by 20% you get a $5 trillion tab, right?

CUTTER:  It's a $5 trillion tab.

BURNETT:  But then when you close deductions it's not going to be anywhere near $5 trillion. That's our analysis.

CUTTER:  Well, okay, stipulated, it won't be near $5 trillion, but it's also not going to be the sum of $5 trillion in the loopholes that he's gonna close.  So it is gonna cost someone, and it's gonna cost the middle class.

RUSH:  So Erin Burnett, "Stephanie, it isn't gonna be $5 trillion." "Okay, okay, it won't be $5 trillion."  So she's admitted there's no $5 trillion tax cut.  CNN went and checked it.  I don't even know why they wasted their time.  Does anybody believe -- $5 trillion tax cut?  I mean, even if you want to say it's over ten years.

END TRANSCRIPT

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