Tags: ryan | gop | inequality | plan

Ryan Presents GOP Plan on Income Inequality

Friday, 18 Nov 2011 02:39 PM

Republicans have an answer to liberals who claim they are ignoring the issue of growing inequality in income. House Budget Committee Chairman Paul Ryan, R-Wis., released a 17-page report on the subject Thursday, The Hill reports.

“The question for policymakers is not how best to redistribute a shrinking economic pie. The focus ought to be on increasing living standards, expanding economic opportunity, and promoting upward mobility for all,” the report states.

Ryan maintains that eliminating tax deductions and lowering the top marginal rate would make the tax code more progressive, as evidenced by the 1986 tax reform.

“Income at the top end of the distribution that was formerly parked in tax shelters would go from being taxed at zero percent to being taxed at the top marginal rate,” the report notes.

But raising the top rate of 35 percent would have a negative effect on the poor, the paper argues.

“The result of such an agenda would be much slower economic growth and lower incomes for all.”



© 2015 Newsmax. All rights reserved.

Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Rep. Alan Nunnelee Sent Home After New Tumor Discovered

Friday, 30 Jan 2015 15:54 PM

Doctors have found a new tumor in U.S. Rep. Alan Nunnelee and told him no further medical treatment is possible, a spoke . . .

Wisconsin Gov. Walker Previews Likely White House Theme

Friday, 30 Jan 2015 15:04 PM

Criticizing Washington as a city of power-hungry elites, Wisconsin Gov. Scott Walker on Friday offered a preview of his  . . .

Rep. Peter King: I Can't Figure Out Why Mitt Ripped Jeb

Friday, 30 Jan 2015 14:06 PM

Mitt Romney very definitely appeared to throw a cheap jab at Jeb Bush as he announced Friday that he would not seek the  . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved