Above that level, Romney's plan cuts taxes at greater rates for wealthier people. The average millionaire would thus pay $145,568 less in taxes in 2015 than they do today. Taken altogether, that makes the plan a budget buster, meaning greater deficits or deep cuts to federal programs.
Per TPC, "The Romney plan would reduce federal tax revenues substantially. TPC estimates that on a static basis, the Romney plan would lower federal tax liability by $600 billion in calendar year 2015 compared with current law, roughly a 16 percent cut in total projected revenue. Relative to a current policy baseline, the reduction in liability would be roughly $180 billion in calendar year 2015."