The Republican Tax Bombshell

The Paul Ryan budget is still talked about approvingly by Republican candidates but just six months after the plans were published they still will not talk about what it means. Now two months before an election there is little hope of Republicans discussing their tax plan. If you are not a rich American you will face a Republican Tax Bombshell.

People need to be reminded exactly what the Republican proposals mean to them individually.

Mother Jones did an article about it in March. The figures are terrifying for anyone earning less than $128,000 per year.

For those earning more they get the tax cuts that the Tea Partiers demanded. They just will not be part of that deficit funded largesse.

Rep. Paul Ryan’s tax and spending “roadmap” is a fascinating critter: conservatives all praise it to the skies but none of them want to actually commit to supporting it. The reason for their hesitation is obvious: Ryan’s plan would cut spending dramatically, and supporting it would mean having to explain what, exactly, they’d cut. That would be electoral suicide and they know it. They much prefer their usual game of loudly denouncing “spending” without ever having to say what spending they’re actually opposed to.

However, their reason for supporting Ryan’s plan is also obvious: it would cut taxes on the rich dramatically, and there’s nothing conservatives like better than cutting the tax bills of America’s wealthy. But how much would it cut taxes on the rich? Citizens for Tax Justice has run the numbers and the answer is: a lot. The very richest of the rich would see their tax bills go down by an average of over $200,000, a whopping 15% of the income. Ka-ching! To make up for that, everyone with an income under $100,000 would have their taxes increased by about $2,000 per year

This from a Party that claims to be concerned about the deficit, yet they are prepared to cut $180 billion from tax revenues, while they target the very poorest of Americans for tax hikes.

No economic argument cold be put forward to justify a tax hike on the bottom 90% of America to pay for a huge tax cut for its top 1% and pretty meaningless cut for the other 9%. Especially a hike that hits the very poorest the hardest.

Do you think the Taxed Enough Already teabaggers know this? Do you think that the poorest of them marching with their little placards against big bad Government would be happy to know about Republican proposals? How great is it to be part of a community demanding tax cuts for their boss at their own personal expense?

More importantly what will voters think?

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