That's uncharitable. There's at least a plausible case that such streamlining and repatriation could massively kick-start the economy. At the very least, I'm sure Paul Ryan believes so, and has no intention of screwing the poor.
-- Ernie P. On Mar 21, 2012, at 10:03 AM, [email protected] wrote: > > from the site : > Think Progress > Paul Ryan’s Budget Includes $3 Trillion Giveaway To Corporations, The Rich > > By Travis Waldron on Mar 20, 2012 > > > The budget unveiled by House Budget Committee Chairman Paul Ryan (R-WI) this > morning includes substantial changes to the American tax code, both for > corporations and individuals. Ryan’s tax plan shrinks the number of income > tax brackets from six to two, with marginal tax rates set at 10 percent and > 25 percent. He repeals the Alternative Minimum Tax (AMT), slices the top > corporate tax rate to 25 percent, and repeals all of the health care taxes > contained in the Affordable Care Act. It also repeals the repatriation tax on > profits corporations earn overseas then bring back to the United States. > In all, those tax breaks amount to a $3 trillion giveaway to the richest > Americans and corporations, according to the Tax Policy Center. Repealing the > repatriation tax would add roughly $130 billion to that. > > This morning on MSNBC’s Morning Joe, Ryan insisted that the plan would > generate the same amount of revenue as the government currently receives. In > true Ryan form, though, he wouldn’t say how: > > RYAN: We’re taking the tax system and reforming it along the way this new > bipartisan compromise and consensus is showing. Get rid of the special > interest loopholes, special deductions, lower everybody’s tax rates, bring in > at least as much revenue to the government but grow the economy and create > jobs, and get spending under control so we can pay off this debt. > > SCARBOROUGH: So you say that you want to bring as much revenue into the > government even with lower tax rates. There are obviously only a few ways to > do that as far as eliminating tax loopholes, whether you’re talking about the > home mortgage loophole, the health care loophole, or the charitable interest > deductions. Which one of those do you eliminate? > > RYAN: We want to do this in the light of day and in front of everybody. So > the Ways and Means Committee, which is in charge of the tax system, sent us > the plan here, which is a 10 and 25 percent bracket for individuals and small > businesses, and then they want to have hearings and, in light of day, show > how they would go about doing this. > > The taxes Ryan wants to repeal all primarily impact the richest Americans and > corporations. Repealing the repatriation tax, as Republicans have attempted > multiple times since taking control of the House in 2011, amounts to a huge > giveaway to corporations. And ending the AMT and investment taxes from the > ACA while dropping the top income tax rate would give massive tax breaks to > the rich. That isn’t surprising — it’s virtually identical to what Ryan > attempted in last year’s budget, which he called the “Path to Prosperity.” > > Ryan’s plan for income taxes, meanwhile, is similar to GOP presidential > candidate Rick Santorum’s, and the Tax Policy Center found that his plan > would reduce total federal revenues by $900 billion a year. Though Ryan > offered no specifics, it’s clear that to avoid blowing a hole in the federal > budget, the GOP will have to make up lost revenue by raising taxes on the > poor and middle class (or by ending tax breaks that primarily benefit them) > or by taking the axe to vital safety net programs that the poorest Americans > — including women, infants, and children — depend on the most. Again, that > shouldn’t be surprising — this edition of Ryan’s plan is simply a worse > version of last year’s “Path to the Poorhouse.” > > > -- > Centroids: The Center of the Radical Centrist Community > <[email protected]> > Google Group: http://groups.google.com/group/RadicalCentrism > Radical Centrism website and blog: http://RadicalCentrism.org -- Centroids: The Center of the Radical Centrist Community <[email protected]> Google Group: http://groups.google.com/group/RadicalCentrism Radical Centrism website and blog: http://RadicalCentrism.org
