1. The House (Ryan) tax plan
in 7 simple slides
As passed by the US House of Representatives
Tax Fairness WI -- taxfairnesswi.org
2. These are the US income tax brackets
40%
35%
30%
25%
20%
15%
10%
5%
0%
Less income More income
Tax Fairness WI -- taxfairnesswi.org
3. House (Ryan) budget turns 6 brackets into 2
(It doesn’t say what $ level the brackets are)
40%
35%
30%
25%
20%
15%
10%
5%
0%
Less income More income
Tax Fairness WI -- taxfairnesswi.org
4. Compare the two
40%
35% Current brackets
30%
25%
20% Ryan’s brackets
15%
10%
5%
0%
Tax Fairness WI -- taxfairnesswi.org
5. In the House (Ryan) plan, three brackets at the top
pay less; one near the bottom pays less
40%
35%
30%
25%
20%
15%
10%
5%
0%
Tax Fairness WI -- taxfairnesswi.org
6. That means much less revenue is
collected, and tax breaks for the wealthiest
So Ryan has
promised to close
loopholes and
exemptions that
mainly the rich use
Paul Ryan, interviewed by Bob Schieffer of CBS for 60 Minutes, Aug. 12, 2012
“Take away the tax shelters that are uniquely enjoyed by people in
top tax brackets so they can’t shelter as much money from taxation
and so we can lower tax rates for everybody to make America more
competitive.”
Tax Fairness WI -- taxfairnesswi.org
7. But it’s an empty promise:
The House (Ryan) budget eliminates no
loopholes; no details forthcoming
Question by Brit Hume, Fox News, Aug. 14, 2012:
What loopholes and deductions would be eliminated?
Answer by Paul Ryan:
“That is something we should do in the light of day
through Congress.”
Tax Fairness WI -- taxfairnesswi.org
8. What are we left with?
A budget that slashes revenue, forcing cuts
“Ryan’s
budget, recall, would
raise $2 trillion less in
tax revenue over the
next decade than
President Obama’s
budget. Ryan’s plan
would also spend $5.3
trillion less over that
time.”
Ezra Klein, Washington Post
Aug. Tax Fairness WI -- taxfairnesswi.org
12, 2012
