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Ryan: We Want Tax Reform, Not Tax Cuts For Rich (VIDEO)

04/18/2011 9:33 am 0 comments

Source: CBS News

Wisconsin Rep. Paul Ryan on Sunday disputed recent claims that the Republicans’ budget plan proposes enormous cuts in taxes for America’s highest earners, arguing that the proposal actually reforms the tax system and closes loopholes, “targeting our revenues at where they are right now.”
In an appearance on CBS’ “Face the Nation,” Ryan, who unveiled the GOP’s 2012 budget plan last week, said Republicans were merely making the system more efficient and opposing the president’s proposal to end the Bush-era tax cuts for the rich.

“We’re not talking about cutting taxes,” he told CBS’ Bob Schieffer. “We’re just not agreeing with the president’s tax increases. I guess that’s the new definition of tax cuts. We’re saying keep tax rates where they are right now. Get rid of all those loopholes and deductions which, by the way, are mostly enjoyed by wealthy people so you can lower tax rates.”

Ryan’s budget proposal aims to reduce the deficit by $4.4 trillion over ten years, by repealing health care reform, reforming entitlements like Medicare and Medicaid, and making cuts to defense. It also imposes hard spending caps on domestic spending.

To read this article in its entirety visit CBS News.

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