Republican economic plans are primarily about cutting taxes for the ultra-wealthy and coming up with arguments to con the gullible into believing that this is good for the economy. This does not mean that they are willing to cut spending for their pet projects. While they might claim that the tax cuts will bring in more revenue, this does not work when taxes are relatively low as they are now, leaving the middle class to pay for Republican fiscal irresponsibility. Paul Ryan was asked how his tax plan would add up, buts said he didn’t have the time to answer:
… it would take me too long to go through all of the math, but let me say it this way. You can lower tax rates by 20 percent across the board by closing loopholes and still have preferences for the middle class for things like charitable deductions, for home purchases, for health care.
Catherine Rampell explained why there was not enough time, beginning with:
There’s a reason why it would take too long — infinitely long, you could say — to go through the math that holds this policy proposal together: because math will never hold this particular policy proposal together.
Perhaps Ryan thinks he needs time as long as John Galt’s speech to explain this. Like this portion of Atlas Shrugged, his explanation would be fiction.
Today Bloomberg News asked Ryan about his tax plan, offering him all the time he needed to explain it. Ryan still couldn’t explain it. The math just does not add up.
RT @ronchusid: Paul Ryan's Unexplainable Tax Math #p2 #p21 #topprog http://t.co/XyaQCAtt
I recall all summer Romney has been saying he would lower taxes by 20%, implying that people would have more money in their pocket. Now all of a sudden he says he still wants to lower the tax RATE, but eliminate deductions (which low and middle income people depend upon) so “You won’t see a big reduction in your taxes”.