Mitt Romney will only release one year of past tax returns and won’t give any specific budget proposals. But sooner or later, he had to pick a vice-presidential candidate.
So we can now look to Paul Ryan’s proposals as chairman of the House Budget Committee (Romney previously called a proposed Ryan budget “excellent work”) for a preview of how your taxes could change under a Romney-Ryan Administration. Here’s some of what Ryan has proposed:
–Giving the top 1 percent of income earners a tax break averaging more than $150,000, while on average raising the taxes of the bottom 20%, as The Washington Post reported.
–Ending Medicare by giving beneficiaries a fixed amount to go into the marketplace and try to purchase private health insurance. Over time, government spending on health care would drop by 50% and most elderly would pay more for health care (if they can get insurance) than would otherwise be the case. You don’t have to believe me about this–just check out the report from the well-regarded and nonpartisan Congressional Budget Office.
–Privatizing Social Security, with a plan so radical that even privatization fan George W. Bush spurned it, according to New York magazine.
–Cutting Pell Grants, job training benefits, and food stamps with a slash-and-burn campaign so severe that the U.S. Conference of Catholic Bishops publicly criticized him.
I know–only one of the bullets above deal directly with taxes, while the other three deal with government spending on social programs. Remember: Whenever politicians talk about cutting spending on social programs, they are usually also talking about indirectly raising costs and reducing opportunities for millions of Americans.