Thursday, April 21, 2011

How the Ryan Plan Cuts Taxes for the Rich

What Paul Ryan, the GOP, Fox News, and conservative commentators don't want you to know.

4 comments:

Megan said...

Basically the argument is that Ryan's plan could be crafted so that it doesn't give the rich tax cuts, but the GOP would never do that.

Also, we should probably start calling the Bush tax cuts the Obama tax cuts since he signed them into law last year. He could have let them all expire instead of whining about all the problems they have caused.

PBM said...

There's a couple aspects of the argument, Megan. It's mainly that no matter how you cut it, the plan would cut taxes for the rich. Just by repealing the health care bill, the GOP would be cutting taxes for the rich. I think the best argument here, though, is that for the very rich, rate cuts are worth much more than exemptions and loopholes, so getting rid of them in lieu of lower rates is a better deal and bigger cut for the rich.

ND said...

Megan, the GOP would do that. Maybe not this incarnation, but the GOP once held fiscal responsibility in high esteem. Think Eisenhower. Think TR.

Patrick_L said...

Megan, don't you remember how the tax deal debate went? Republicans refused to extend unemployment insurance unless Obama allowed all the tax cuts to continue. Republicans used the plight of the millions of unemployed as a bargaining chip to give them the leverage to continue their deficit-increasing tax policy preferences.