I've been to a few places recently (like the middle of Pennsylvania) where voters aren't as pro-Obama as those here in central Jersey, something that is somewhat inexplicable to me. I do sort of see the whole "we're not doing so great under Obama" belief but I do not at all understand how any thinking American can see the destruction of the economy that Republican rule under Bush created and think "hey, let's put the same guys with the same ideas back in charge of our country!" It is really one of the most inexplicable decisions I think anyone could make. I could see you voting for Romney if you really hate Obama's social stances, but his beliefs on those issues are by and large popular (outside of the racist parts of the country). But supporting Romney for economic reasons? That just makes no sense. I really may need to run this chart every week until the election. Because this is the Romney / Paul Ryan Republican alternative to running the economy. Just take a look. Seriously. Even the Bush tax cuts that bankrupted our country were not nearly this bad.
The plan would result in at least $4.5 trillion less revenue over the next decade (yes I said trillion) but the "deficit conscious unless a Republican is president" Republicans claim their plan will be revenue neutral. How do you cut $4.5 trillion in revenue and remain neutral? Paul Ryan says through the elimination of loopholes. The only loopholes that come close are such things as the mortgage interest deduction and the tax exclusion on employer health care benefits. Get rid of them and the $7000 a married couple making between $100,000 and $200,000 (most of the anti-Obama crowd that I personally speak to, by the way) would be swamped by increases through elimination of loopholes.
The net result: Married couples in the $100K to $200K range would pay an additional $2,700 annually to the Internal Revenue Service, on top of the tax increases that are scheduled to hit every American household when the George W. Bush-era cuts expire at the end of the year.
Households earning more than $1 million a year, meanwhile, could see a net tax cut of about $300,000 annually.
Those making under $100,000 a year (or, most Americans) would see little, if anything, back in our pockets, while the top of the top 1 percent would make out like bandits.
Remember, this is just the tax side of the Ryan plan. The devastating cuts to offset the revenue losses and still tackle the deficit hits everything from Pell Grants to Medicaid and Medicare and would put even bigger burdens on low-income and middle-class America.
This is the Republican plan for America, led by Paul Ryan and endorsed by Mitt Romney: protect the rich and screw everyone else.
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