New York (CNNMoney) – In a year when political stalemate is expected to block any real progress on fiscal reforms, House Republicans will take a swing at tax reform in their fiscal year 2013 budget proposal due out on Tuesday morning.
House Budget Chairman Paul Ryan, the lead writer on the budget, and his caucus will call for a reduction in individual tax rates and brackets. Instead of today's six brackets, with rates from 10% to 35%, they are calling for just two - 10% and 25%. It's not clear how much income would fall under each bracket.
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So the 1%ers will really only get the 10% bracket,plus no tax on capital gains,how nice...Middle class screwed again,not if we can help it.....
Same ol Ryan. Same ol Plan.
Another ridiculous Republican plan of cut and spend. Remember who got us into trouble? Republicans who wanted to cut taxes and have a couple of wars.
Paul Ryan is a genius. Many people realize that now. Many more will, eventually. We are all fortunate to have him working on our most difficult financial problems. He develops answers, not political compromises. We need more people focused on the job rather than the career.
Let's see, every time taxes are lowered, the deficit goes up, every time. It happened under god Reagan, after which he raised taxes over ten times. It happened under W, but never compensated for that loss of revenue. Over 2/3 of our debt came under Republican control of the White House. Don't tell me Dems controlled Congress because the President has vet power and Republicans only like vetoes of Democratic ideas. No, Republicans will never admit that they are responsible for the vast majority of our debt, they don't have the integrity to do so.
We know how it will break down 25% poor and 10% for the rich, this is not rocket science
the tax breaks are good but some of them are aimed at the class of people congress should raise taxes on the rich and on imported and exported goods
GOP/TP/Candidates and their voters: They just have no shame!! Give me a break!
One suggestion for you brow man. You know where you can put that thumb!
Going after seniors might not be the best plan of attack.
Time to cancel bush tax cuts and increase revenue you can't run a business with no money coming in morons. The middle class are the job creators by increasing demand ,not the so called republican job creators that pocket all the money and send jobs to China, Dem landslide coming in Nov.
First the republicans add $12 trillion to our national debt, and now they want to cut revenue by giving even more tax cuts to the wealthy. Come on Wisconsin, give Ryan the boot this election.
Entire Tax Code needs to be re-done. Mitt Romney paid only 13.6% while Average American paid 38%. Totally silly. Don't cry on job creators, what jobs created, Kmart, McDonald's, or WallMart, etc, Nonsense.
i.e. even more unaffordable tax cuts for the rich
Many Americans simply do not trust Ryan after his disastrous scheme to privatize Medicare & previous budget with no numbers.
Out in next election, thanks teaparty clowns.
The GOBP assault on the poor and middle class continues. Ryan's "plan" is more of the usual disproven nonsense, with tons of tax cuts for our phony "job creators" while shafting the rest of us to pay for this welfare for the wealthy.