WALLACE: So how much would it cost?He not only doesn't have the time he doesn't have the math. They can't explain it until after the election because it can't be revenue neutral without raising taxes on the middle class.
RYAN: It’s revenue neutral…
WALLACE: No no, I’m just talking about cuts. We’ll get to the deductions, but the cut in tax rates.
RYAN: The cut in tax rates is lowering all Americans’ tax rates by 20 percent.
WALLACE: Right, how much does that cost?
RYAN: It’s revenue neutral.
WALLACE: But I have to point out, you haven’t given me the math.
Ryan: No, but you…well, I don’t have the time. It would take me too long to go through all of the math. But let me say it this way: you can lower tax rates by 20 percent across the board by closing loopholes and still have preferences for the middle class. For things like charitable deductions, for home purchases, for health care. So what we’re saying is, people are going to get lower tax rates.
Sunday, September 30, 2012
Voodoo Economics 2012 Edition
Paul Ryan doesn't have time to explain the math behind his 20% tax cut.