How Ryan Raises Taxes Without Raising Taxes

[BinswOH]

This question from the audience in Iowa should give you pause. Candidate Ryan's answer is the best example of double speak we've had this fall. I wander how his Norquist buddy feels now?

When asked at a town hall in Clinton Iowa how the Romney administration
would lower the debt without raising taxes, Paul Ryan stated "When a
wealthier person can shelter money from being taxed that means everybody
pays higher tax rates. But, if you subject more of their income to taxation,
more of their income is taxed and that allows us to lower revenues for
everybody across the board".


"Now our plan says this," Ryan said. "Lower tax rates across
the board by 20 percent. How do you do that without losing revenues? By
closing loopholes. We have about a trillion dollars a year of foregone
revenues through all the various different loopholes and deductions, and
what we're saying is, the wealthier people who use a lot of these
deductions, close their loopholes. So when a wealthier person can shelter
money from being taxed, that means everybody pays higher tax rates. But if
you subject more of their income to taxation, more of their income is taxed,
and that allows us to lower revenues for everybody across the board. That
means middle class taxpayers have lower tax rates and there's plenty of
fiscal room to keep these important preferences for middle class taxpayers
like you know charitable donations, or buying a home, or healthcare."
http://abcnews.go.com/blogs/politics...ked-for-more-s
pecifics-but-this-time-by-a-voter/

Or see the whole video at
http://www.rightspeak.net/2012/10/pa...on-ia-full.htm
l

[drdiederich]

Heaven forbid we simplify the tax code and close all these crony capitalism loopholes. We wouldn't want to do that...

[roger7]

Whose loopholes do you suppose they will close since both and their party are of the wealthier persuasion? R7

[glowplug]

FACT, we elect a POTUS and a V. P. not a king, not a dictator. The executive branch doesn't have the Constitutional power to wave some magic wand, imposing tax policy. The Congress and Senate are responsible for creating legislation.

When elected, Paul Ryan will only be the Veep. As such about the only real power the Veep has is occasionally breaking tie votes in the Senate. Other than that, very dang little power. Soooooo Bins, your post is much liberal ado about nothing.

GP

[4450]

How do you figure that is double speak? I've heard several people on the morning financial programs suggest this and I thought that made more sense than Obama's wanting to raise taxes on the rich. In one breath the liberals bashed romney for putting money in off-shore accounts and the next breath they want to tax them more. Well if they are putting money off-shore to avoid taxes now, what do you think they will do if they raise their taxes more? I think it makes good sense. Get rid of loop-holes.

[roger7]

The most wealthy have lobbyists for the sole purpose of creating loopholes. Whose loopholes do you suppose will get closed? R7

[Bill inWisconsin]

I wish people would stop using the term "loophole" like it is some secret, crooked tax evasion scheme that only a select few have privy to. It is legitimate legal tax laws/exemptions/credits. Don't like it, have your representative change it. If he/she won't, vote them out of office.

Bill

[4450]

The most wealthy have lobbyists for the sole purpose of creating loopholes. Whose loopholes do you suppose will get closed? R7

What do you think would be a good solution? I'm for outlawing lobbyists, but that ain't gonna happen.