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View Diary: Paul Ryan & The Big Lie That Is Killing The Middle Class (114 comments)

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  •  Bumped; and Let's Be Clear: (8+ / 0-)
    Jonathan Chait wrote a must read piece “Paul Ryan Breaks Down Under Wonkterrogation” that must be required reading on how easy it is to take down the Paul Ryan “Budget Fixing Numbers Man” mystique.
    Right. Let's hope austerity-prone "democrats" in congress read this.

    THERE IS NO PLAN. Ryan's so called plan is a total fraud. Paul Krugman made this clear not long after Ryan revealed his "budget plan" way last year.

    And when I say fraudulent, I mean just that. The trouble with the budget devised by Paul Ryan, the chairman of the House Budget Committee, isn’t just its almost inconceivably cruel priorities, the way it slashes taxes for corporations and the rich while drastically cutting food and medical aid to the needy. Even aside from all that, the Ryan budget purports to reduce the deficit — but the alleged deficit reduction depends on the completely unsupported assertion that trillions of dollars in revenue can be found by closing tax loopholes.

    And we’re talking about a lot of loophole-closing. As Howard Gleckman of the nonpartisan Tax Policy Center points out, to make his numbers work Mr. Ryan would, by 2022, have to close enough loopholes to yield an extra $700 billion in revenue every year. That’s a lot of money, even in an economy as big as ours. So which specific loopholes has Mr. Ryan, who issued a 98-page manifesto on behalf of his budget, said he would close?

    None. Not one. He has, however, categorically ruled out any move to close the major loophole that benefits the rich, namely the ultra-low tax rates on income from capital. (That’s the loophole that lets Mitt Romney pay only 14 percent of his income in taxes, a lower tax rate than that faced by many middle-class families.)

    So the Ryan budget is a fraud; Mr. Ryan talks loudly about the evils of debt and deficits, but his plan would actually make the deficit bigger even as it inflicted huge pain in the name of deficit reduction. But is his budget really the most fraudulent in American history? Yes, it is.
    $700 BIL yearly from "closed tax loopholes"? Gimme a break please. Ryan and the rest of the wealthy class arse kissers in congress are incapable of clawing back even $70 BIL per year in pathetic corporate welfare, let alone a massive $700 BIL per year. forget it.

    http://www.nytimes.com/...

    "The 1% don't want SOLUTIONS; they've worked very hard the last four decades to get conditions the way they are now".

    by Superpole on Sun Jan 27, 2013 at 01:50:31 PM PST

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