GOP calsl for tax cuts for the ultra-rich

[NJMaverick]

The GOP is calling for sharply lower taxes on the wealthiest Americans which will save billionaires and millionaires billions of dollars while plunging our nation deeper into debt. Of course to pay for these cuts there will be huge cuts in earned benefits programs for the middle class

Quote:House Budget Committee Chairman Paul Ryan of Wisconsin is slated to unveil today a tax and spending plan that would shrink the number of brackets to two from six with rates set at 25 percent and 10 percent. The top rate now is 35 percent.

Ryan's proposal would also eliminate the alternative minimum tax while reducing the corporate tax rate from 35 percent now to 25 percent, according to documents provided by his office.

Read more: http://www.sfgate.com/cgi-bin/article.cg...z1pfM3SMv2

[Brewman_Jax]

They've gotten their tax breaks, when are the "job creators" going to start creating jobs?

[jaxx]

Paul Ryan is at it again. Trying to fleece the people to fill the treasure chests of the rich.
I heard yesterday that Cantor isn't bringing in the people to his campaign events.....and I hope Ryan is having the same trouble. The DNC will have to stay on this and get the truth out there about the budget.

[jaxx]

Paul Ryan’s Budget Includes $3 Trillion Giveaway To Corporations, The Rich
By Travis Waldron on Mar 20, 2012 at 10:49 am

The budget unveiled by House Budget Committee Chairman Paul Ryan (R-WI) this morning includes substantial changes to the American tax code, both for corporations and individuals. Ryan’s tax plan shrinks the number of income tax brackets from six to two, with marginal tax rates set at 10 percent and 25 percent. He repeals the Alternative Minimum Tax (AMT), slices the top corporate tax rate to 25 percent, and repeals all of the health care taxes contained in the Affordable Care Act. It also repeals the repatriation tax on profits corporations earn overseas then bring back to the United States.

In all, those tax breaks amount to a $3 trillion giveaway to the richest Americans and corporations, according to the Tax Policy Center. Repealing the repatriation tax would add roughly $130 billion to that.

This morning on MSNBC’s Morning Joe, Ryan insisted that the plan would generate the same amount of revenue as the government currently receives. In true Ryan form, though, he wouldn’t say how:

<..> The taxes Ryan wants to repeal all primarily impact the richest Americans and corporations. Repealing the repatriation tax, as Republicans have attempted multiple times since taking control of the House in 2011, amounts to a huge giveaway to corporations. And ending the AMT and investment taxes from the ACA while dropping the top income tax rate would give massive tax breaks to the rich. That isn’t surprising — it’s virtually identical to what Ryan attempted in last year’s budget, which he called the “Path to Prosperity.”

http://thinkprogress.org/economy/2012/03...e-wealthy/

The shell game.....under which pile of words is the worm? In this case the worm wrote the words.

[NJMaverick]

Anyone want to guess who is going to be footing the bill for the $3 trillion dollar give away?

(03-20-2012 10:25 AM)jaxx Wrote:  Paul Ryan’s Budget Includes $3 Trillion Giveaway To Corporations, The Rich
By Travis Waldron on Mar 20, 2012 at 10:49 am

The budget unveiled by House Budget Committee Chairman Paul Ryan (R-WI) this morning includes substantial changes to the American tax code, both for corporations and individuals. Ryan’s tax plan shrinks the number of income tax brackets from six to two, with marginal tax rates set at 10 percent and 25 percent. He repeals the Alternative Minimum Tax (AMT), slices the top corporate tax rate to 25 percent, and repeals all of the health care taxes contained in the Affordable Care Act. It also repeals the repatriation tax on profits corporations earn overseas then bring back to the United States.

In all, those tax breaks amount to a $3 trillion giveaway to the richest Americans and corporations, according to the Tax Policy Center. Repealing the repatriation tax would add roughly $130 billion to that.

This morning on MSNBC’s Morning Joe, Ryan insisted that the plan would generate the same amount of revenue as the government currently receives. In true Ryan form, though, he wouldn’t say how:

<..> The taxes Ryan wants to repeal all primarily impact the richest Americans and corporations. Repealing the repatriation tax, as Republicans have attempted multiple times since taking control of the House in 2011, amounts to a huge giveaway to corporations. And ending the AMT and investment taxes from the ACA while dropping the top income tax rate would give massive tax breaks to the rich. That isn’t surprising — it’s virtually identical to what Ryan attempted in last year’s budget, which he called the “Path to Prosperity.”

http://thinkprogress.org/economy/2012/03...e-wealthy/

The shell game.....under which pile of words is the worm? In this case the worm wrote the words.