The FY 2014 Ryan Budget: One Terrible Idea After Another
Today House Budget Chairman Paul Ryan (R-WI) released his vision for the next ten years. Despite having a section entitled "Fairness Restored," Ryan’s budget does anything but put forward a fair and equitable plan.
Chairman Ryan’s plan balances the budget on the backs of vulnerable women and their families. It would:
The Ryan budget would not ask the very wealthy and corporations to contribute an additional penny toward deficit reduction. In fact, it would:
- Give large new tax cuts to the wealthiest individuals and corporations by reducing the top tax rate for wealthy individuals from 39.6 percent to 25 percent and for corporations from 35 percent to 25 percent.
So what is in the "Fairness Restored" section, you might ask? There are several policy recommendations but I think the first item is particularly telling: Chairman Ryan is worried about policies that are "unfair" to oil and gas companies. That’s right, despite the fact that highly profitable oil and gas companies benefit from more than $2.5 billion in tax subsidies each year – equivalent to about half of our annual spending on federal child care subsidies.
Chairman Ryan, I don’t know about you, but that isn’t what fairness means to me.