After Mitt Romney conceded that CTJ’s estimate of his effective tax rate of 14 percent was correct, Newt Gingrich said that he believed everyone should pay a similar effective tax rate and that this was an argument for his proposed optional 15 percent “flat tax.” Gingrich fails to mention that his plan would actually lower Romney’s effective tax rate almost to zero percent.

CTJ epxlained to TIME that the optional “flat tax” in Gingrich’s plan actually has two tax rates — 15 percent for the income that most of us earn, and zero percent for the investment income that Romney lives on.

TIME also reported on CTJ’s findings that Romney would save $3.4 million a year under his own plan, but would save $6.4 million under Gingrich’s plan.

Thank you for visiting Tax Justice Blog. CTJ and ITEP staff will soon retire this domain. But ITEP staff are still blogging! You can find the same level of insight and analysis and select Tax Justice Blog archives at our new blog, http://www.justtaxesblog.org/

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