I'd like to focus on another aspect of the proposal: Ryan wants to reduce the top corporate and personal income tax rates to 25%. That's because, as we all know, the rich and powerful don't get enough reward for what they do. Remember, these are The Folks Who Brought You the Great Recession.
What's really interesting is that Ryan and his ilk reason that slashing the top rates will encourage economic activity and so there will be no net loss of tax revenue (although even more of it will come from people at the bottom end of the income curve). In fact, they argue that net tax revenues will actually increase.
Think of the implications: Slash the top tax rate to zero and what would we have? So much tax revenue that we'd be able to pay for every imaginable government program (well, at least for huge DOD cost overruns, subsidies for corporate farmers and other assorted boondoggles). Indeed, the government would be taking in so much money that we'd have to RAISE taxes to CUT government revenues, before government has ALL the money!
As you no doubt recall (those of you over 30 anyway), this is the same crock that the supply-siders sold in the 1980's. It was discredited then and it's still dreck. Yet the Republicans, shameless as ever, go on peddling it. Clearly, we need not only to slay this idea--and all of the junk that the Rebuplicans are trying to put over on us--but to drive a huge wooden stake through its heart.
Now, what are we going to have to do to get what passes for mainstream media to see this?