Cut the tax’s by 5 Trillion, that was a bidden gaffe!
No, Biden said 500 Trillion. Romney actually does claim that he can cut “tax rates” by 5 trillion by closing loop holes, or changing the tax code, and remain revenue neutral. Romney, accurately, claims the the current tax code is too complicated and has too many loop holes that have the effect of raising compliance costs and misdirect investments into unproductive dead ends like solar panels on roof tops and advanced degrees in puppetry.
He may be claiming money not spent on solar panels and puppetry degrees as “tax cuts”, since they are a government induced misdirection of resources.