House Budget Chairman Paul Ryan, R-Wis., releases his budget plan this morning. It’s a controversial document because it cuts spending by $4 trillion over ten years and by $6 trillion compared to President Obama’s budget.
Not everyone is happy. Here part of the press release from the left-wing Campaign for America’s Future:
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“Rep. Paul Ryan’s budget plan will push rising health care costs onto those least able to afford them – the elderly, the disabled and the poor. It will do nothing to curb the rising costs imposed by the powerful complexes – insurance and drug companies, private hospitals – that now force Americans to pay twice per capita of any other industrial nation for worst results. At a time of Gilded Age inequality, with the wealthiest 1% capturing 25% of all income and paying a lower effective tax rate than the teachers of their children, it would stunningly lower top end tax rates for individuals and corporations.”
“Rep. Paul Ryan’s budget plan will push rising health care costs onto those least able to afford them – the elderly, the disabled and the poor. It will do nothing to curb the rising costs imposed by the powerful complexes – insurance and drug companies, private hospitals – that now force Americans to pay twice per capita of any other industrial nation for worst results. At a time of Gilded Age inequality, with the wealthiest 1% capturing 25% of all income and paying a lower effective tax rate than the teachers of their children, it would stunningly lower top end tax rates for individuals and corporations.”
Here’s the problem: Even Ryan’s budget, with these massive cuts, doesn’t balance the budget by the end of the decade. So with that in mind, consider this: How seriously are we supposed to take people who resist much, much smaller cuts for this year — $60 billion, $100 billion — and who have no answer for the future except tax increases?
