Mitt Romney on the Buffet Rule and His Own Fair Tax Plan

And the President, of course, has been campaigning for something known as the Buffett Rule, the Buffett Tax. [...] As a matter of fact, someone calculated that that tax would raise enough revenue to pay for government for eleven hours. So it was more of a gimmick than it was a real proposal to reform our tax system and make life a little easier. My own plan is to lower the tax rates, but also limit some of the deductions and exemptions and breaks, particularly for high income folks, so we can continue to get the revenue we’ve been getting – when I say we, I’m talking about the government – but can do so in a tax structure that’s simpler and with rates that are a little lower so that businesses can afford to hire and expand and people can have a little easier time making ends meet.