Paul Ryan Cracks Under Pressure and Admits Romney’s Tax Plan is Trickle Down
Again, there is no empiracal evidence that trickle down economics work, of course now it has become a dirty word(s) so the GOP are careful to say it. Ryan just committed a big no-no.
When pressed during a local Wisconsin interview, Paul Ryan admitted that the whole Romney tax plan is based on the trickle down theory that more tax cuts will magically bring growth and prosperity.
Not only does Ryan let the cat out of the bag, and admit that their whole tax cut scheme is predicated on trickle down economics, but he seems to be working off of an entirely different script than Mitt Romney.
Just four days ago, Romney told the Toledo Blade a completely different story about how he would pay for his tax plan, “These are the kinds of things that get worked out in Congress, as you go back and forth between Democrats and Republicans, very much like you go back to the Reagan plan, he talked about bringing taxes down.”
Paul Ryan was actually telling several different lies about the Romney tax plan. The idea that the wealthy won’t get a tax cut is a matter of semantics. The Romney plan cuts capital gains taxes, which is where most of the wealthiest Americans make their money. The second central lie is that the middle class won’t pay more. No matter how the numbers are crunched, in order to make Romney’s plan work, someone has to pay more. Since Romney is already on record as believing that the rich are overtaxed, and 47% of America are victims, it is pretty easy to see...targeting.
The biggest lie to come out of Ryan’s mouth was the fallacy of trickle down growth.
A recent report by the non-partisa...ch Service found no relationship between lowering tax rates on the wealthy and economic growth,
Paul Ryan admitted that the Romney tax plan is more of the same trickle down fairy dust that hasn’t worked for the last three plus decades.
The reality is that the economy grows more when the top tax rate is higher, “The economy grew at 3.86 percent from 1950 to 1970, when the average top marginal income tax rate was 84.8 percent. From 1987 to 2010, when the average rate was less than half that (36.4 percent), economic growth was far less robust, 2.85 percent. From 1987 through 1992, the top average marginal income tax rate was 33.3 percent. Economic growth averaged 2.31 percent. From 1993 through 2002, after taxes increased under President Clinton, the average top marginal rate was 39.5 percent. Economic growth averaged 3.68 percent. Finally, from 2003 through 2007, after the Bush tax cuts, the average top marginal rate was 35 percent. Economic growth averaged 2.79 percent.”
What Romney and Ryan are proposing wouldn’t grow the economy. It would increase income inequality.
The Romney campaign has avoided comparing their plan to trickle down economics, but Paul Ryan let the cat out of the bag, and confirmed that the Romney plan is a tripling down of the Bush tax cuts for the rich.
The Romney/Ryan tax plan is really a massive redistribution and institutionalization of wealth at the top. The Romney plan will shift the tax burden to the middle and bottom earners and made economic advancement even more difficult.
Mitt Romney and Paul Ryan would rather protect the wealth of a few than create opportunity for you.
Ryan is proving to be more of a campaign liability than the Romney people could have ever imagined. He is clearly off message and trapped in his own Randian la-la land. Ryan has had a difficult couple of days trying to defend a tax plan that has hidden intentions. Instead of being the ideal numbers guy, Ryan is looking like what he is. Paul Ryan is nothing more than a House tea party darling who is wilting under the pressure of the national spotlight. He is off message, and looking increasingly like he is inching himsel...eservation.
The media is pressing Romney’s boy wonder for details, and the not ready for the big stage running mate is starting to get off message and crack.
"The voter is less important than the man who provides money to the candidate," - Former Supreme Court Justice John Paul Stevens
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