On Wednesday, House Republican Conference Chairman Mike Pence (Indiana) told CNBC viewers that the first thing the GOP plan to do if they were to win control of the House would be to extend Bush’s deficit-busting tax cuts for the wealthiest Americans. That’s right, the GOP’s first priority is to ensure the wealthiest few get a break.
Yesterday, Republican Congressman Paul Ryan (Wisconsin), self-described “Young Gun” and Ranking Republican on the House Budget Committee, said the budget he proposed last year had “plenty of room to cut spending to accommodate those taxes.” The Ryan-GOP budget “savings” come from privatizing Social Security and ending Medicare as we know it. From the Washington Post:
Some GOP lawmakers also have endorsed Ryan’s alternative budget plan, which would wipe out deficits in part by privatizing Social Security and replacing traditional Medicare benefits with an insurance voucher for people age 55 and older.
Democrats are committed to ensuring hardworking Americans, their families and small businesses receive needed tax relief and protecting retirement security for our seniors.
Democrats will continue to fight for tax relief for the middle-class and push to extend the 2001, 2003 tax cuts for middle-class families, including the child tax credit, reductions in rates, marriage penalty relief for middle class Americans, and 97 percent of small businesses, while allowing the Bush tax cuts for the wealthiest few to expire.
A picture is worth a thousand words– The Washington Post posted this chart comparing the average tax cut per taxpayer under President Obama’s plan (protected under statutory pay go) and the Republican plan: