Ryan budegt eliminates loopholes for wealthy, leaves middle-class write-offs in place

[Conservative]

You know this is a piss poor budget proposal when all the Rethugs can do is say;
show us the Dems budget, show us Obama's budget, show us your money.

I thought this "budget" was so good that everyone else would just throw up their hands and say that this is the one. This is the budget that will fix everything.

Avg millioniare will get a 150k tax cut.

That says it all right there.

Waste of time talking about something that will never pass. But keep on dreaming.

prove it. The ONLY reference to that in the OP article, was from the White House flunky who can't prove it either.

 

[uscitizen]

My point is that it is an extremely high level proposal seemingly with no details but is being discussed as if the details are in there.

 

[uscitizen]

And seeing as how this is a Rethugs thread, I would think it up to you to show that Ryans budget will not result in a big tax cut for the very rich.

Instead you want someone else to figure this out for you.

Funny.

no, it's up to the person who claims it will result in a huge tax cut for the rich to actually prove it.

there is nothing to prove one way or the other, it is pretty much blank paper.

 

[uscitizen]

The right wing media is referring to the Ryan budget proposal as a blueprint, that is a lie since you can build a house from a blueprint it has all the details needed.
You could not even build a dog house from Ryan's "blueprint".

 

[edthecynic]

You know this is a piss poor budget proposal when all the Rethugs can do is say;
show us the Dems budget, show us Obama's budget, show us your money.

I thought this "budget" was so good that everyone else would just throw up their hands and say that this is the one. This is the budget that will fix everything.

Avg millioniare will get a 150k tax cut.

That says it all right there.

Waste of time talking about something that will never pass. But keep on dreaming.

prove it. The ONLY reference to that in the OP article, was from the White House flunky who can't prove it either.

You are right, it's not $150,000, actually it's $187,000. And that is assuming that every possible loophole for the rich is 100% removed.

http://www.ctj.org/pdf/ryanplan.pdf

Millionaires Would Receive Average Income Tax Cut of at Least $187,000 in 2014

Second, the Ryan budget would replace the existing personal income tax with a personal
income tax that has just two rates, 10 percent and 25 percent, repeal the Alternative Minimum
Tax (AMT), and offset the costs by closing unspecified tax loopholes and tax expenditures. The
table on the first page illustrates that taxpayers with adjusted gross income (AGI) exceeding $1
million would enjoy a tax cut of at least $187,000 under this plan no matter how it is
implemented.

The figures in the table were calculated under the assumption that taxpayers with AGI
exceeding $1 million would have to give up all the major tax loopholes and tax expenditures
that Rep. Ryan could conceivably target for repeal. While Rep. Ryan does not specify which tax
provisions he would repeal, these calculations assume he would repeal all itemized
deductions, all tax credits, the exclusion for employer-provided health insurance, and the
deduction for health insurance for the self-employed.2

Even under these assumptions, over 92 percent of these very high-income taxpayers would
enjoy a net tax cut, and the average income tax change for these taxpayers would be a
reduction of $187,000 in 2014.

 

[editec]

My point earlier is that I do not think ANY are specified.

Then how the hell can any of us decide it is a good or bad proposal?


VAPOR LEGISLATION

How? Well a Republican is proposing it and Fox is supporting it. How can it be anything but good?

Its nothing but vapor legislation because as yet there is apparently NO BILL to read?

And here we are debating its worth based on what exactly?

Our impression of something that does not exist?

 

[NYcarbineer]

Does the Ryan plan result in a net tax increase, cut, or no change for high income Americans?

You tell me. What do YOU think will happen if you remove tax loopholes & deductions for the wealthy, take away the shelters and subject ALL income to taxation?

What always happens, Lyin' Ryan and the GOP will cut the taxes of the rich by a greater amount than they lost in deductions. And make no mistake about it, Lyin' Ryan and the GOP are cutting the tax rate of the rich.

What they want to do is get the marginal, 'headline' rates down because they know they are the most difficult to re-raise,

no matter how deeply we're going into debt.

As for the loopholes, they can eliminate a bunch of them at the outset, but over time, little by little, the Congress. bankrolled by the wealthy/corporate special interests, can easily slip them, or loopholes like them, back in.

 

[rightwinger]

While reducing loopholes, doesn't it also cut taxes on the wealthy by 10 percent?

 

[Full-Auto]

You know this is a piss poor budget proposal when all the Rethugs can do is say;
show us the Dems budget, show us Obama's budget, show us your money.

I thought this "budget" was so good that everyone else would just throw up their hands and say that this is the one. This is the budget that will fix everything.

Avg millioniare will get a 150k tax cut.

That says it all right there.

Waste of time talking about something that will never pass. But keep on dreaming.

We know anything The GOP proposes will not pass, because fucking mindless idiots such as you are cheering ANY CUT IS EXTREME.

 

[Seawytch]

You know this is a piss poor budget proposal when all the Rethugs can do is say;
show us the Dems budget, show us Obama's budget, show us your money.

I thought this "budget" was so good that everyone else would just throw up their hands and say that this is the one. This is the budget that will fix everything.

Avg millioniare will get a 150k tax cut.

That says it all right there.

Waste of time talking about something that will never pass. But keep on dreaming.

We know anything The GOP proposes will not pass, because fucking mindless idiots such as you are cheering ANY CUT IS EXTREME.

Actually, the Democrats offered up some pretty extreme cuts...4 trillion worth, but the Tea Baggers that pledged their souls to Norquist were adamant about no tax hikes.

See, we need both. We need to cut spending and raise revenue. Democrats were willing to do both...the Tea Baggers weren't.

 

[StevenC]

While reducing loopholes, doesn't it also cut taxes on the wealthy by 10 percent?

With loopholes they are paying what? 10-15%
Without loopholes and a 10percent reduction they would be paying what? 28%

Which is greater?

 

[rightwinger]

While reducing loopholes, doesn't it also cut taxes on the wealthy by 10 percent?

With loopholes they are paying what? 10-15%
Without loopholes and a 10percent reduction they would be paying what? 28%

Which is greater?

Does Ryan eliminate the Capital Gains Loophole?

That is how the wealthy reduce their tax liability

 

[kaz]

While reducing loopholes, doesn't it also cut taxes on the wealthy by 10 percent?

With loopholes they are paying what? 10-15%
Without loopholes and a 10percent reduction they would be paying what? 28%

Which is greater?

Does Ryan eliminate the Capital Gains Loophole?

That is how the wealthy reduce their tax liability

That is how most people have jobs. Seriously. If you're going to post on economics, you should know SOMETHING about it. This is an example of how the left no kidding really truly want policies that are destroying us and want to just ratchet them up and finish the job.

 

[kaz]

Actually, the Democrats offered up some pretty extreme cuts...4 trillion worth

Those "cuts" were actually only reductions in increases in spending and most of them were 8 to 10 years out. That's what you call "extreme cuts?"

 

[NYcarbineer]

And seeing as how this is a Rethugs thread, I would think it up to you to show that Ryans budget will not result in a big tax cut for the very rich.

Instead you want someone else to figure this out for you.

Funny.

no, it's up to the person who claims it will result in a huge tax cut for the rich to actually prove it.

Paul Ryan's Budget Plan: More Big Tax Cuts for the Rich - Forbes

 

[kaz]

And seeing as how this is a Rethugs thread, I would think it up to you to show that Ryans budget will not result in a big tax cut for the very rich.

Instead you want someone else to figure this out for you.

Funny.

no, it's up to the person who claims it will result in a huge tax cut for the rich to actually prove it.

Paul Ryan's Budget Plan: More Big Tax Cuts for the Rich - Forbes

More big tax cuts for the rich = more jobs for the rest of you. If you want to learn more about economics, you have to stop trying to learn the field from lawyers.

 

[Conservative]

And seeing as how this is a Rethugs thread, I would think it up to you to show that Ryans budget will not result in a big tax cut for the very rich.

Instead you want someone else to figure this out for you.

Funny.

no, it's up to the person who claims it will result in a huge tax cut for the rich to actually prove it.

Paul Ryan's Budget Plan: More Big Tax Cuts for the Rich - Forbes

Even the tax Policy Center, whose analysis your link is based on, says the analysis doesn't cover the entire budget proposal. Worthless.