I think the debate is going to leave a lot of people saying, basically, "They both threw out a bunch of numbers and called each other liars." So it will look like a tie. On taxes, Obama did a good try at pointing out Mitt's numbers do not add up. But I think he could have been much clearer, and more convincing. Some specifics below.
Some things I wish he had said:
1. Cutting the top marginal tax rate is a huge gift to millionaires and billionaires, even after removing or limiting unspecified deductions. It will make the tax system less progressive. It will increase income inequality, already at record levels. (Obama did say that cutting deductions will not make up for decreasing the top tax rate. But he could have been clearer about the effects).
2. Giving more personal income to business owners does not make them want to hire more people. You hire more people when your level of business requires it, not when you all of a sudden have more money to spend. This point was totally lost in the debate.
3. We have the lowest rates on personal income any time in the past couple of decades, at least. The idea that tax rates should only ever go down is unrealistic, especially since starting in 2001 rates were set at a level that failed to fund the current government.
Thu Oct 04, 2012 at 2:56 AM PT: I actually thought of another one: Romney said several times that he would work with Democrats in a bipartisan fashion. His running mate's 2013 budget proposal, from which many of Romney's own proposals are drawn, got zero Democratic votes in the House. It is an extreme proposal, made only for political purposes, not a practical piece of legislation.