Paul Ryan's Budget

Outlined in today's Wall Street Journal.  Here he is on tax reform:

Tax reform: This budget would focus on growth by reforming the nation's outdated tax code, consolidating brackets, lowering tax rates, and assuming top individual and corporate rates of 25%. It maintains a revenue-neutral approach by clearing out a burdensome tangle of deductions and loopholes that distort economic activity and leave some corporations paying no income taxes at all.

Maybe I'm just being a skeptic, but 28% top marginal rate was too low when Reagan changed it, and the only way to get that is to get rid of the mortgage interest deduction and state tax deductions, I bet this idea doesn't make it.  The only way this can be revenue neutral is if taxes go up on the middle-class, because they'll be lower on the wealthy.  Also, higher corporate taxes overall probably isn't going to fly.  Republicans are going to get pummelled on this.