Look. If congress does not enact new deficit-increasing legislation, then the medium-term deficit picture is fine. Paul Ryan’s draconian cuts to Medicare, though draconian, also aren’t even supposed to take effect until outside the ten year budget window. In the medium-term the deficit is all about the conventional wisdom that congress will enact new deficit-increasing legislation. There are many villains in this, but the main culprit is the determination of many members of congress, Ryan included, to keep extending tax cuts that are scheduled to expire. What needs to happen to get the medium-term deficit under control is not enact these tax cuts. But the whole essence of Ryan’s plans is to make tax cuts for the rich affordable. That’s fine. Ryan is a member of the modern American conservative movement, a movement that’s fanatically focused on lowering taxes for the rich and completely uninterested in the budget deficit. If you want to have an adult conversation about the cataclysmic impact of this tax cut agenda on public services, then the Ryan Ripoff is an excellent place to start. But if you want to have an adult conversation about the deficit, you start by not diggingExactly. Getting rid of all of the Bush Tax Cuts would have cut the deficit by $400 million. Trying to lower taxes on the wealthy isn't going to solve any problems.
Tuesday, April 5, 2011
The Ryan Tax Plan
Matthew Yglesias:
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Did you read the comments after Yglesias' post? The comments read like children in a school yard, "I'm right, you're wrong," "no, I'm right and you're wrong."
ReplyDeleteIn this budget problem a lot of talk is being spewed, but very few people are listening. I wonder who is really buying the budget?
I think you just summarized almost all blog comments, including my own.
ReplyDeleteAs for Ryan's budget, Republicans are calling it bold and courageous, but they don't have the votes for it among Republicans in the Senate. Go to NPR and listen to Bob Corker from Tennessee talk about it on Morning Edition this morning.
I'm pretty sure that most people who are 54 are not in favor of buying private insurance when they turn 65, government subsidy or not. Heck, I doubt that insurance companies want to sell it to them. They know that Republicans are trying to make them the fall guys for overcharging and then killing grandma.
In the end, we need a grown-up conversation amongst health care professionals about how to control health care costs.