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ryan 'budget' is not a serious proposal. Only meant as a negotiations gimmick. Obama & Dems
should reject it out of hand:
http://www.offthechartsblog.org/the-ryan-budgets-skewed-tax-cuts/
We’ve shown that the $5 trillion in non-defense program cuts in House Budget Committee Chairman Paul Ryan’s new budget are heavily weighted toward low-income programs. At the same time, based on the latest estimates from the Urban-Brookings Tax Policy Center (TPC), we now see that the tax cuts that he specified in his budget would be heavily weighted to high-income households.
These tax cuts, which would cost $5.7 trillion if they met Chairman Ryan’s goals (including cutting the top rate from 39.6 to 25 percent), would give 55 percent of their benefits to the top 1 percent of U.S. households based on income, TPC reports.
To be sure, Chairman Ryan says his budget would fully offset the cost of his proposed tax cuts by curbing tax expenditures (exclusions, deductions, and other preferences). But he has offered no specific proposals to do so.
■ We estimate, based on new TPC analysis, that the individual income tax cuts specified in the Ryan budget (assuming they met their goals, including the 25 percent top rate) would give an average $330,000 a piece to households with annual incomes above $1 million — compared to an average $1,700 tax cut for middle-class households with incomes between $50,000 and $75,000 (see first chart).
■ The tax cuts would raise after-tax incomes by 15.4 percent among millionaire households but by just 1.8 percent for households with incomes between $50,000 and $75,000 (see second chart).
(more)
We’ve shown that the $5 trillion in non-defense program cuts in House Budget Committee Chairman Paul Ryan’s new budget are heavily weighted toward low-income programs. At the same time, based on the latest estimates from the Urban-Brookings Tax Policy Center (TPC), we now see that the tax cuts that he specified in his budget would be heavily weighted to high-income households.
These tax cuts, which would cost $5.7 trillion if they met Chairman Ryan’s goals (including cutting the top rate from 39.6 to 25 percent), would give 55 percent of their benefits to the top 1 percent of U.S. households based on income, TPC reports.
To be sure, Chairman Ryan says his budget would fully offset the cost of his proposed tax cuts by curbing tax expenditures (exclusions, deductions, and other preferences). But he has offered no specific proposals to do so.
■ We estimate, based on new TPC analysis, that the individual income tax cuts specified in the Ryan budget (assuming they met their goals, including the 25 percent top rate) would give an average $330,000 a piece to households with annual incomes above $1 million — compared to an average $1,700 tax cut for middle-class households with incomes between $50,000 and $75,000 (see first chart).
■ The tax cuts would raise after-tax incomes by 15.4 percent among millionaire households but by just 1.8 percent for households with incomes between $50,000 and $75,000 (see second chart).
(more)
[font size="3"]Ryan 'budget' makes massive cuts to discretionary spending beyond what anybody would think is rational. This is nothing but a false position just put forth for negotiations purposes. It's an extreme position beyond all reason just to get an agreement which is skewed far to the right of where it would be given good faith negotiations. (Of course, in truth, the Republicans DON'T have any idea, of their own, of what the optimum level of funding should be. They refuse to, perhaps they are incapable of understanding and arriving at a level of Government responsibility and involvement in society. They only devise what they want - as opposed to what Democrats determine is a practical position. Once that is established, THEN Republicans come up with a position that is based on some decrement of the Democrats' position. Then they come up with talking points that are supposed to be the basis of their position.[/font]
http://www.offthechartsblog.org/ryan-budget-hits-non-defense-discretionary-funding-far-more-than-sequestration-does/
House Budget Committee Chairman Paul Ryan’s new budget would cut the part of the budget that supports everything from education and law enforcement to biomedical research to nutrition assistance by more than $1 trillion below the funding caps in the 2011 Budget Control Act (BCA) over the next decade. That’s hundreds of billions of dollars below the funding levels that would result from nine years of sequestration.[div class="excerpt" style="width:240px;float:right;"]
“Non-defense discretionary” programs — which Congress funds through annual appropriations bills — are already slated to fall to historically low levels under the BCA caps (and that’s before sequestration). Funding for those programs will shrink by 2017 to its lowest level on record as a share of the economy, in data that go back to 1962, and fall further thereafter. The Ryan budget would cut their funding by $1.1 trillion more over the next decade (see chart).
Under the Ryan budget, these programs would be roughly 18 percent below the BCA caps each year.
These cuts are far more severe than would occur if sequestration were to remain in place in 2013 and beyond for these programs. Indeed, over the decade the Ryan budget would cut non-defense discretionary programs $700 billion below the post-sequestration levels.
The Ryan budget takes a very different approach to defense programs, however, canceling the sequestration cuts for all years starting in 2014 and funding defense at the BCA cap levels.
Ryan Roundup 2013: Everything You Need to Know About Chairman Ryan’s Latest Budget - http://www.offthechartsblog.org/
