Let’s Necklace Romney With Ryan’s Economic Plan!

Updates below

First, according to Wikipedia here’s what necklacing is (you can probably get the drift by looking at the above photo too):

Necklacing is the practice of summary execution and torture carried out by forcing a rubber tyre, filled with petrol, around a victim’s chest and arms, and setting it on fire. The victim may take up to 20 minutes to die, suffering severe burns in the process.

The fun bunch in South Africa during the 80s and 90s used to spring this on fellow black folks (it was mostly black on black violence) when someone was “sentenced” as a collaborator with the government.

Sentence Romney By Wrapping The Flaming Ryan Budget Around His Neck

Mitt Romney thought enough of Paul Ryan (and his budget plan) to rope him into the 2012 presidential race. So, we shouldn’t let Romney wiggle away from that budget.

clown paul ryan

The clown, Paul Ryan. From WMxdesign

Despite what you might have heard from the popular media, Paul Ryan (R-Wisconsin, 1st District) is a clown. He doesn’t dress up like a clown (not that I know of), but he likes to clown around with budget numbers, and play games like “who’s really going to pay for all this?”.

This page is an archive of all the links to articles detailing exactly what the Ryan budget is proposing. There aren’t a lot of details, mostly just aspirational goals without realistic, specific numbers.

Have you got more evidence from the Ryan Clown College to light that necklace around Romney’s neck? Leave links and comments below.

Paul Ryan’s Fairy-Tale Budget Plan – David Stockman, the director of the Office of Management and Budget from 1981 to 1985 (The Reagan years!) (NY Times, 8/13/12)

Mr. Ryan showed his conservative mettle in 2008 when he folded like a lawn chair on the auto bailout and the Wall Street bailout. But the greater hypocrisy is his phony “plan” to solve the entitlements mess by deferring changes to social insurance by at least a decade.

A true agenda to reform the welfare state would require a sweeping, income-based eligibility test, which would reduce or eliminate social insurance benefits for millions of affluent retirees. Without it, there is no math that can avoid giant tax increases or vast new borrowing. Yet the supposedly courageous Ryan plan would not cut one dime over the next decade from the $1.3 trillion-per-year cost of Social Security and Medicare.

Instead, it shreds the measly means-tested safety net for the vulnerable: the roughly $100 billion per year for food stamps and cash assistance for needy families and the $300 billion budget for Medicaid, the health insurance program for the poor and disabled. Shifting more Medicaid costs to the states will be mere make-believe if federal financing is drastically cut.

Pink Slime Economics – Paul Krugman (NY Times, 4/1/12)

As Howard Gleckman of the nonpartisan Tax Policy Center points out, to make his numbers work Mr. Ryan would, by 2022, have to close enough loopholes to yield an extra $700 billion in revenue every year. That’s a lot of money, even in an economy as big as ours. So which specific loopholes has Mr. Ryan, who issued a 98-page manifesto on behalf of his budget, said he would close?

None. Not one. He has, however, categorically ruled out any move to close the major loophole that benefits the rich, namely the ultra-low tax rates on income from capital. (That’s the loophole that lets Mitt Romney pay only 14 percent of his income in taxes, a lower tax rate than that faced by many middle-class families.)

Understanding the Ryan plan – Matt Miller (Washington Post, 8/12/12)

Ryan is not a “fiscal conservative.” A fiscal conservative pays for the government he wants. Ryan never has. His early “Roadmap for America’s Future” didn’t balance the budget until the 2060s and added $60 trillion to the national debt. Ryan’s revised plan, passed by the House in 2011, wouldn’t reach balance until the 2030s while adding $14 trillion in debt. It adds $6 trillion in debt over the next decade alone — yet Republicans had the chutzpah to say they wouldn’t raise the debt limit! (I remain mystified why President Obama never hammered home this reckless contradiction by insisting that the GOP “raise the debt ceiling just by the amount it would take to accommodate the debt in Paul Ryan’s budget.”)

Ryan’s Tax-Rate Drop Would Require Lawmakers to Consider Favored Breaks – Richard Rubin (Bloomberg News, Apr 6, 2011)

The fiscal plan outlined by House Budget Chairman Paul Ryan calls for reducing the top individual and corporate tax rates from 35 percent to 25 percent, which would require lawmakers to consider eliminating tax breaks such as the mortgage interest deduction to meet his revenue targets.

Over the next decade, the Wisconsin Republican wants the government to collect $4.2 trillion less than it would if Congress did nothing, and $1.8 trillion less than under the budget proposed Feb. 14 by President Barack Obama. Ryan’s targets in the plan he released yesterday are similar to the amount of revenue that would be raised if Congress extends tax cuts set to expire at the end of 2012.

Lowering rates that much while reaching the revenue targets in Ryan’s budget would require lawmakers to consider eliminating so-called tax expenditures, including the mortgage interest break and the deduction for charitable contributions, said Mel Schwarz, partner at the Washington national tax office of Grant Thornton LLP. Both have long been viewed as politically difficult to challenge.

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