“It’s a Joke, Son, It’s a Joke”
Okay, so now the fantasy land of Republican fiscal policy is full front and center. Paul Ryan has released his so-called balanced budget plan. There will be more than enough comment from serious people who will dissect the plan and expose it for what it is, a sham political document with no basis in reality.
But if anyone wants to know in a single thought how intellectually dishonest the plan is, here is just two excerpts. The first is the plans attitude towards taxes.
Simplify the tax code to make it fairer to American families and businesses.
Reduce the amount of time and resources necessary to comply with tax laws.
Substantially lower tax rates for individuals, with a goal of achieving a top individual rate of 25 percent.
Consolidate the current seven individual-income-tax brackets into two brackets with a
first bracket of 10 percent.
Repeal the Alternative Minimum Tax.
Reduce the corporate tax rate to 25 percent.
Transition the tax code to a more competitive system of international taxation.
Yes that is correct, a massive tax cut for the wealthiest Americans.
And here is the plan’s recommendation for Social Security.
Social Security in brief
Require the President to submit a plan to shore up the Social Security Trust Fund.
Require Congress to submit a plan of its own.
Yes, this Forum would present more, but it is impossible to write when one is laughing this hard.