President Obama wants to reverse things a little.
He wants to give a tax cut to the middle class while closing the loopholes used by the super-rich and corporations to avoid paying their share of taxes.
But, Paul Ryan wants it the other way around, that is increasing middle class taxes while giving tax cuts to the rich.
Ryan wants what he calls a “flatter tax code” which actually cuts taxes for those at the top while eliminating deductions and tax breaks for everyone else, just as he has done in each of his budget proposals.
In 2013, after studying Ryan’s budget proposal, The Center For Budget and Policy Priorities found that in order to cut taxes on the wealthy, taxes would have to be raised on the middle class.
“Even with the same dramatic scaling back of tax expenditures for filers with incomes above $200,000 that TPC examined in its Romney analysis — including entirely wiping out their deductions for mortgage interest and charitable giving — families with children that have incomes below $200,000 would have to face tax increases averaging more than $3,000 a year, if policymakers were to avoid increasing the deficit while reaching Chairman Ryan’s 25-percent top-tax-rate goal.”
Republicans are always condemning the idea of wealth distribution, but it does not seem to bother them when it means redistributing wealth to the rich.
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Of course for them, it is not that the “job creators” are taking the money without creating the jobs, it i somehow Obama’s fault.
Economist Owen M. Zidar found in a 2012 study that, “Almost all of the stimulative effect of tax cuts results from tax cuts for the bottom 90%. A one percent of GDP tax cut for the bottom 90% results in 2.7 percentage points of GDP growth over a two-year period. The corresponding estimate for the top 10% is 0.13 percentage points and is insignificant statistically.”
But Paul Ryan ignores that in favor of the fantasy that hasn’t proven itself.
He opposes the president who wants to do something that could work in favor of something that has not worked.
The Republicans claim they oppose the president’s idea because it is a tax increase when in reality it is a tax shift
And yet, Ryan and his tribe are able to convince the people who are hurting that it is the best thing for them.
These are the people who would gladly give up improved conditions for a piece of Marie Antoinette’s cake.