Under the terms of his recently revealed economic plan, Americans in the top 20% of earners would see their taxes cut by an average of $23,500, an 8.6 percentage point drop in their tax rate, according to an analysis by the nonpartisan Tax Policy Center.
And the top 1% would get an annual average reduction of $261,000, a 14.8 percentage point drop.
Meanwhile, Americans in the lowest 20% of income would see their taxes drop by an average of only $23, a 0.2 percentage point change in their tax rate.
Add in Pawlenty's corporate tax plan, and all that cutting means the federal government will bring in almost $7.6 trillion less in revenue over ten years.
For a government that already spends far more than it brings in, that spells trouble, according to Rosenberg, who said revenue would end up around 13.5% of GDP, far below historical norms.