Skip navigation

I always love how Republicans are so intent on simplifying the tax code. We need a flat tax! We need a tax form that fits on a 3×5 card! We need to uncomplicate things!  Have you ever wondered what they think is so complicated about the tax code? It favors the poor and middle class. Matthew O’Brien does the easy math associated with Paul Ryan’s plan for simpler taxation:

Matthew O’Brien of The Atlantic calculated last week that under Ryan’s proposals Romney would have paid not 13.9 percent but .82 percent, or just $177,000 or so on $21 million earned. In fairness, I should note that the Ryan proposal isn’t the same thing as the Romney proposal–the Ryan plan eliminates all taxes on capital gains (the main source of Romney’s income), while Romney’s position is to continue to tax rich peoples’ capital gains, albeit at a lower rate than presently. So Romney under Romney’s plan would pay more, but less than 13.9.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: