By David Sirota

When it comes to tax policy, Mitt Romney is not merely a spinner, an equivocator or a run-of-the-mill dissembler. He's a liar. Hyperbolic and overwrought as that label seems, it is, alas, the only accurate description for someone who would, in February, promote a proposal to cut taxes "on everyone across the country by 20 percent, including the top 1 percent" and then appear at an October debate and insist that the very same proposal "will not reduce the taxes paid by high-income Americans."

For the most part, analyzing such hideous dishonesty is where political reporting has started and stopped. How big a liar is Romney? Was he lying in the first statement or the second one? These are, no doubt, important questions - and to answer but one of them, it's obvious Romney was lying in the most recent one. As the nonpartisan Tax Policy Center reported, the Republican nominee's proposal, if enacted, would "result in a net tax cut for high-income tax payers and a net tax increase for lower- and/or middle-income taxpayers."

However, critical as such short-term fact checking is, it misses the much bigger news embedded in all the subterfuge. In short, it misses the genuinely mind-boggling fact that a Republican nominee for president is now campaigning on a promise to not cut taxes on the wealthy. Looked at in a historical context, this could be nothing short of a much-needed, come-full-circle moment for the Republican Party.