Posted on 05/26/2011 6:10:38 PM PDT by Ken in Eastman
Runaway spending and deficits continue to grow unabated in part because any attempts to rein them in are relentlessly demagogued by defenders of big government. The latest example is the budget recently authored by House Budget Committee chairman Paul Ryan (R–WI) and passed by the House of Representatives.
Most critics have failed to provide any credible alternative to the House budget. Yet that has not stopped them from relentlessly misrepresenting the House budget with the following myths.
Myth #1: The House budget recklessly cuts taxes by $4 trillion.
Fact: It cancels a future tax increase.
Critics charge that the House budget is not serious about deficit reduction because it includes a $4 trillion tax cut. This is patently false. The budget would keep tax rates at current levels. What critics call a $4 trillion “tax cut” is actually the cancellation of a $4 trillion tax increase that is currently scheduled to go into effect in 2013. Only in Washington is keeping tax rates at current levels considered a reckless tax cut. The House budget would leave tax revenues slightly above their 18 percent of GDP historical average.
Myth #2: The House budget increases the deficit by giving tax cuts to the rich.
Fact: The proposed change is a revenue-neutral tax reform plan that simplifies the tax code.
The House tax plan proposes reducing the top individual and corporate tax rates from 35 percent to 25 percent—and this is fully paid for by eliminating extraneous tax deductions, exemptions, and loopholes that currently allow some wealthy individuals and businesses to . . .
(Excerpt) Read more at themoralliberal.com ...
It doesn't exist!
Ryan is a true statesman with a patriotic drive.
Democrat's are politicians sitting it out until they can feed until we are dead.
I definitely agree!
My latest blog, which I’ll probably post later: “Democrats and the Art of Doing Nothing.”
http://thekencarroll.blogspot.com/2011/05/democrats-and-art-of-doing-nothing.html
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