A new study from the Citizens for Tax Justice shows just how far Ryan is willing to go to sell out the middle class for the sake of Americas richest one percent.
If the Roadmap were enacted, the federal government would collect $2 trillion less over 10 years, but the bottom 90 percent of all taxpayers would actually see a tax increase. The middle 20 percent of families would see their tax bill increase by $1,800; the families with an average income between 20k and 33k would see an increase of over $2,000. Taxes go up by $1,600 for families making less that 20k, more than a 12 percent increase.
You might be asking yourself, if the government is collecting so much less and massively cutting spending, why would 90 percent of all Americans need to pay more? Thats where the rubber meets the Roadmap.
The top one percent of wage earners get a 15% tax cut. Someone making $1.4 million a year would get a $211,000 tax break. If you make over 100k, under Ryans plan, you get a tax break. Its dj vu all over again.
The more we learn about Ryans Roadmap, the more it sounds like a list of the worst ideas and most epic policy failures of the Bush administration. Does the whole tax cuts for the rich paid for by the middle class thing ring a bell? It should ” the Bush tax cuts were the biggest transfer of wealth in the history of western civilization, and the Roadmap builds its foundation on the ashes of that smoldering crater.
Ryans great idea for Social Security is give to the same Wall Street goons that caused the economic mess in the first place. Ryan is so unsatisfied with sending Goldman Sachs and the rest of Wall Street only $780 billion taxpayer dollars through Bushs TARP bailout in 2008 hes now coming after one of the only social safety nets we have left. Imagine for just a second how much worse the Bush recession would have been if the Worst President Ever would have gotten his way and privatized Social Security. Shudder.
And this whole idea that somehow Paul Ryans Roadmap is really about spending and deficit is just a charade. Where was Paul Ryans tough-talking deficit and spending hawk persona when he was voting for eight straight Republican budgets that increased spending by over $20 trillion? The Bush administration was handling the whole selling out the middle class-thing quite nicely, thank you very much. They didnt need Paul Ryans help.
But as America waved goodbye to the Lost Decade and started digging out from the mess left behind, someone had to step up and carry the charred stump that was the torch of Bush-onomics and the Young Gun was ready and willing.