Romney has proposed trillions in new tax cuts, and so far has only proposed one concrete way to offset that budget-busting cost: Capping itemized tax deductions at $17,000, $25,000 or $50,000 (he’s floated several different numbers).

Let’s ignore, for the moment, that this cap could still hit middle-class families. Let’s skip over the fact that the richest folks will still make out like bandits thanks to the massive rate cuts that Romney proposes. Let’s even pretend that capping deductions would come close to paying for those tax cuts. It’s still an incredibly dangerous proposal.

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