More facts showing results of Ryan's budget Ideas, IT WOULD EXPLODE THE DEFICIT

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    Aug 14, 2012 1:09 AM GMT
    The Ryan Choice: “A Collective Gasp from Wisconsin”

    WASHINGTON - August 13 -
    ROBERT KRAIG, robert.kraig at,
    Kraig is executive director of Citizen Action of Wisconsin. He said today: “Paul Ryan is a smooth politician, but beneath the optimistic rhetoric, genial demeanor, and wonky reputation, the substance of his budget proposals would have devastating consequences for the freedom to have a fair shot at the American dream and establish a secure life for our families.

    ”Like Mitt Romney, Congressman Ryan claims that his radical budget proposals are needed to reduce the national debt. Under the guise of the discredited trickle down approach to the economy, Ryan’s budget actually slashes federal revenue by $4.6 trillion in order to give massive new tax breaks to the wealthy. Under Ryan’s budget the average millionaire, who already pays $129,000 less in taxes due to the Bush tax cuts, will get an additional tax break of $265,000. To pay for these new tax breaks to the wealthy, Ryan proposes unprecedented cuts such as student loans, school lunches, research and development, investments in infrastructure, and other commitments to giving everyone a fair shot at the American dream.

    “To pay for these new tax breaks for the rich, Ryan proposes to turn Medicare into a voucher program that will shift new costs onto seniors while further enriching the health insurance industry, and slash Medicaid in half which will causes 14 to 27 million moderate-income Americans to lose their health care and long term care.

    “One example of the Romney-Ryan approach is their proposal to raise the Medicare eligibility age to 67, while also repealing health care reform. Without the guarantee that people with preexisting conditions can purchase insurance at an affordable cost, 66 and 67 year-olds would be at the mercy of health insurance industry. The result would be millions of seniors in their early retirement years forced to go without coverage when they are likely to need it most, greatly increasing their risk of early death or losing all of their hard earned retirement savings to medical bills. This is much too high a price in freedom and security to pay for unnecessary and undeserved tax cuts for the wealthiest among us.”

    MATT ROTHSCHILD, mattr at,
    Rothschild is the editor of The Progressive magazine, which is published in Madison, Wisconsin. He said today: “When Mitt Romney chose Paul Ryan as his running mate, there was a collective gasp from Wisconsin.

    “The far right of the business class in America seems to like the aw-shucks, basset-eyes, folksy Wisconsin frontman. But President Obama hasn’t been firm on defending Medicare, Medicaid, and Social Security, so the contrast is not as great as many people are saying.

    “Paul Ryan is the boyish face of primitive capitalism. He is a cover for some of the crudest cuts to the safety net and sneakiest money grabs for the wealthiest.”

    A nationwide consortium, the Institute for Public Accuracy (IPA) represents an unprecedented effort to bring other voices to the mass-media table often dominated by a few major think tanks. IPA works to broaden public discourse in mainstream media, while building communication with alternative media outlets and grassroots activists.
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    Aug 14, 2012 2:59 AM GMT
    Why Paul Ryan’s budget would explode the deficit

    10:56 am March 30, 2012, by Jay Bookman

    U.S. Rep. Paul Ryan, chairman of the House Budget Committee, promises that his proposed budget will free America “from the crushing burden of debt now threatening its future.”

    It would do no such thing. To the contrary, the Tax Policy Center says that major tax cuts included in the Ryan budget would reduce federal revenue by $418 billion in 2015 alone; by 2019, revenue losses would exceed half a trillion dollars each and every year. That will make the deficit worse, not better.

    Ryan disputes such analysis, claiming that he will make up that lost revenue by eliminating various tax credits, deductions and exclusions. However, he refuses to specify what those credits might be and instead asks that we trust him on it. The check’s in the mail, in other words.

    Last week, the Congressional Research Service took a look at the 20 tax credits, exclusions and deductions that have the biggest impact on tax revenue. Together, they account for 90 percent of the revenue lost through tax deductions in the code.

    which of these will Ryan eliminate to make up for a half-trillion dollars a year in lost revenue, most of it in tax breaks for the rich? Let’s work through the list, starting from the top:

    Is he going to eliminate the tax deduction that encourages employers to provide health insurance to their employees?

    No, he is not. If he did, hundreds of millions of Americans might lose their employer-based insurance. No Congress will pass such legislation; no president would sign it.

    Is he going to eliminate the deduction that employers take for providing pensions to their employees? No, he is not, for the same reasons outlined above.

    Is he going to eliminate the mortgage deduction, the single most important deduction to the American middle class? Riiigggghht. Dig a grave for the housing and real estate industries if you do, and dig another for the careers of all the politicians who voted for it.

    Is he going to start taxing Medicare benefits as income to its recipients? Uh, no. He’s not. He is not going to make an elderly couple pay income taxes on the $200,000 in health care they got last year. And is he going to raise the rate on capital gains and treat it as earned income?

    I won’t even bother to answer that one.

    As analysts for the Congressional Research Service drily concluded, “Given the barriers to eliminating or reducing most tax expenditures, it may prove difficult to gain more than $100 billion to $150 billion in additional tax revenues through base broadening.”

    And if you were to make all of the changes that might be feasible, the CRS estimates, you could finance “about a one or two percentage point reduction for each bracket.”

    Just as a reminder, Ryan proposes a 10-percentage-point deduction for the wealthiest of Americans.

    At some point, we do need to seriously address our nation’s financial situation. That point will clearly have to come after the election. But in the meantime, spare us the histrionics. You cannot claim to be serious about the deficit while in the same breath proposing multi-trillion reductions in government revenue.

    Politicians who pretend otherwise are playing the American voter for a fool.

    – Jay Bookman