Skip to main content

Republican budget architect Rep. Paul Ryan did not miss a beat when asked at a town hall meeting if he would support closing corporate tax loopholes to pay for keeping student loan interest rates low. "Nope" came flying out of his mouth almost before the question had ended:
RYAN: Nope. Well, I support closing tax loopholes for tax reform. [...] So that’s what we want to do with all those corporate loopholes is do that, and with the student loan bill let’s cut some spending because that’s more spending, let’s cut spending that is lower-priority spending to address this higher-priority need.
Think Progress edited Ryan's explanation of what exactly he would do with corporate tax loopholes out of this video, but we know from his budget what the plan is: any corporate loopholes he closed—and he's been less than forthcoming about what they might be—would go toward cutting taxes for wealthy individuals to the lowest rate since Hoover. Because corporate money can only go to benefit rich people. Student loans are for middle-class and poor people, so money for them has to come out of the middle-class and poor people pot, like cuts to health care funding. But while revenue from corporations and the wealthy can only be used for the benefit of corporations and the wealthy, services and aid for working families are, to Ryan, useful slush funds to be pillaged for the further benefit of corporations and the wealthy.

So when Ryan says "with the student loan bill let’s cut some spending because that’s more spending, let’s cut spending that is lower-priority spending to address this higher-priority need," he means that "lower-priority spending" is other spending that benefits non-wealthy people, and which people might not immediately notice being cut. Student loans are a "higher-priority need" because the need for them is immediately visible and they are politically popular. But no matter how popular lower student loan interest rates are, it is not enough to give Paul Ryan one instant of hesitation before he rejects the idea of paying for it by closing corporate tax loopholes.

Originally posted to Daily Kos Labor on Mon May 07, 2012 at 01:36 PM PDT.

Also republished by ClassWarfare Newsletter: WallStreet VS Working Class Global Occupy movement.

EMAIL TO A FRIEND X
Your Email has been sent.
You must add at least one tag to this diary before publishing it.

Add keywords that describe this diary. Separate multiple keywords with commas.
Tagging tips - Search For Tags - Browse For Tags

?

More Tagging tips:

A tag is a way to search for this diary. If someone is searching for "Barack Obama," is this a diary they'd be trying to find?

Use a person's full name, without any title. Senator Obama may become President Obama, and Michelle Obama might run for office.

If your diary covers an election or elected official, use election tags, which are generally the state abbreviation followed by the office. CA-01 is the first district House seat. CA-Sen covers both senate races. NY-GOV covers the New York governor's race.

Tags do not compound: that is, "education reform" is a completely different tag from "education". A tag like "reform" alone is probably not meaningful.

Consider if one or more of these tags fits your diary: Civil Rights, Community, Congress, Culture, Economy, Education, Elections, Energy, Environment, Health Care, International, Labor, Law, Media, Meta, National Security, Science, Transportation, or White House. If your diary is specific to a state, consider adding the state (California, Texas, etc). Keep in mind, though, that there are many wonderful and important diaries that don't fit in any of these tags. Don't worry if yours doesn't.

You can add a private note to this diary when hotlisting it:
Are you sure you want to remove this diary from your hotlist?
Are you sure you want to remove your recommendation? You can only recommend a diary once, so you will not be able to re-recommend it afterwards.
Rescue this diary, and add a note:
Are you sure you want to remove this diary from Rescue?
Choose where to republish this diary. The diary will be added to the queue for that group. Publish it from the queue to make it appear.

You must be a member of a group to use this feature.

Add a quick update to your diary without changing the diary itself:
Are you sure you want to remove this diary?
(The diary will be removed from the site and returned to your drafts for further editing.)
(The diary will be removed.)
Are you sure you want to save these changes to the published diary?

Comment Preferences

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site