The Tax Policy Center has updated its analysis of Mitt Romney’s platform to reflect his proposed new tax cuts. And the result: Lower taxes for nearly everyone. The highest-income households would pay significantly less, while few with the lowest incomes would benefit. And without offsetting revenue increases or new spending cuts, Romney’s plan would significantly increase the budget deficit.

 

Romney’s initial tax plan was blasted by many Republicans as too cautious, so last week he rolled out a far more ambitious proposal.