Paul Ryan Doesn't Have the Time
by Charles Lemos, Sun Sep 30, 2012 at 05:52:20 PM EDT
"I don’t have the time. It would take me too long to go through all of the math." - GOP VP Candidate Paul Ryan, Chairman of the House Budget Committee
He didn't the time to explain the Romney-Ryan tax cuts, or is it the Ryan-Romney plan, to Fox News' Chris Wallace. In this case it is not that the math is hard, it is that math is impossible or contradicts their stated view that their tax cuts for the wealthy would have no impact on the middle class. Here is what an August report from the non-partisan Brookings Institution concluded about the Romney-Ryan tax plan:
"Our major conclusion is that a revenue-neutral individual income tax change that incorporates the features Governor Romney has proposed – including reducing marginal tax rates substantially, eliminating the individual alternative minimum tax (AMT) and maintaining all tax breaks for saving and investment – would provide large tax cuts to high-income households, and increase the tax burdens on middle- and/or lower-income taxpayers. This is true even when we bias our assumptions about which and whose tax expenditures are reduced to make the resulting tax system as progressive as possible. For instance, even when we assume that tax breaks – like the charitable deduction, mortgage interest deduction, and the exclusion for health insurance – are completely eliminated for higher-income households first, and only then reduced as necessary for other households to achieve overall revenue-neutrality– the net effect of the plan would be a tax cut for high-income households coupled with a tax increase for middle-income households."
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