Romney selects Paul Ryan for Vice Presidential Running Mate!

Come on, don't spread lies. Here's the truth. Suck it up.

Paul Ryan’s Economic Plan for America
August 11, 2012
Rep Paul Ryan R-WI prososed a budget plan for putting American back on its feet not so long ago. Now that he’s been christened Romney’s running mate that plan is already coming under attack by Team Obama and it has not even been 24 hours since the announcement by Romney in Norfolk, VA. So what does Ryan’s plan entail? Here’s an overview:

HEALTH CARE–

Ryan believes the problems we face are uncontrolled government spending, crushing taxes, and unsustainable debt. Ryan’s plan would ensure affordable healthcare for every American and he proposes this be done by revamping the tax code and taking healthcare out of the hands of government and employers and putting it in the hands of the individual. His proposal calls for a tax cut in the form of $2.3K for individuals and $5.7 for families so that people can purchase health insurance so we can buy health insurance in any state and take it with us even if we move to another state. His plan calls for transparency when it comes to health care prices and quality data. This is so information can be available to everyone BEFORE someone needs to use their health insurance. Ryan’s plan calls for health care exchanges so people have a one stop shopping center for health insurance and it calls for the elimination of pre-existing conditions limitations as well. He proposes to equip states with the tools they need to ensure everyone has health insurance. He further proposes allowing small businesses to pool together natinoally so they can offer their employees coverage and the lowest price and the least cost to the small business owner. Ryan’s plan calls for the adoption of health information technology and for helping states in finding solutions to medical malpractice litigation.

MEDICARE/MEDICAID—

Under Ryan’s plan people getting Medicare right now would be secured to continue getting it while at the same time the plan would start making common sense reforms to start saving this program much needed by the elderly and disabled. It would preserve Medicare for those currently on it and for those who will become eligible for it in the next 10 years (age 55 and over). For those under 55 the plan proposes an $11K Medicare payment to be used for purchase of a Medicare certified health plan. That payment would be adjusted to inflation and income as well so that low income people could get Medicare approved health insurance. Those people needing greater medical needs would receive a higher payment to pay for what they require in terms of their health care. Medical Savings Accounts would be fully funded under the plan for low income people. Others would be allowed to set up tax free Medical Saving Accounts (MSAs). Doing this would once again make Medicare financially solvent! Ryan’s plan seeks to modernize Medicaid for the poor and disabled. It would STRENGTHEN not weaken the health care safety net by reforming high risk pools, giving states maximum flexibility to tailor Medicaid programs to specific needs of populations and the plan would allow Medicaid recipents to take part in the same variety of options that high quality care offers via the tax credit option.

SOCIAL SECURITY—

Contrary to what’s being said, Ryan’s plan DOES NOT eliminate Social Security! In fact it seeks to make it sustainable in the LONG TERM! The plan would preserve SS for those people currently 55 years old and older. For those under 55 they’d have the option of investing over 1/3 of their current SS taxes into Personal Retirement Accounts that would be similar to the Thrifty Savings Plans available to federal employees. This would include a Property Right so that people could pass on these assets to their children or heirs. The plan would guarantee that no one would lose $1 they put into their accounts even after inflation. Modernization of the retirement age is also part of the plan.

TAX REFORM—

The Ryan plan would throw out the existing tax code and replace it with a simplified one that promotes work, savings, and investment!! The Ryan Plan would give tax payers a choice in how to pay their taxes. The new tax codes would have two rates and NO special tax deductions, credits, or exclusions EXCEPT for the health insurance credit. For income up to $100K the tax rate would be 10% of ones income for joint filers and up to $50K income for single filers. Those earning incomes more than this would be taxed at a rate of 25%. There would be a generous standard deduction for everyone and a personal exemption. For families of 4 that would amount to about $39K per year. The Ryan Plan would ELIMINATE the alternative minimum tax and it would eliminate taxes on capital gains, interest, dividends, and the death tax. It would replace the corporate income tax with an adjustable business consumption tax at the rate of 8.5%.

OTHER REFORMS—

Ryan’s Plan would provide for job training to prepare our nation’s workforce. It would give incentives to states to transform jobs programs into flexible and dynamic programs that focus on RESULTS.

Budget Reform is also covered under the Ryan Plan. It calls for Congressional oversight of entitlement programs and a streamlining of the budget process with enforceable limits on total government spending.

You can find more details on the Ryan Plan as stated by Paul Ryan HIMSELF at:

http://roadmap.republicans.bu...

There have been many distorted untruths floating around about Ryan’s plan and now that Romney has designated him as his running mate I’m sure there will be even more. Here are some of the lies and the truth compared:

LIE–The plan would give tax breaks to the wealthy.

TRUTH–The proposed tax reforms in the plan would do away with the tax breaks the wealth use to pay no taxes!

LIE–The plan would end Medicare as we know it.

TRUTH—For people 55 and older there would be no change in Medicare. For those under 55 it would provide them with health care coverage options from Medicare approved private insurers and would be similar to the health plans members of Congress already enjoy.

LIE—The plan would privatize Social Security.

TRUTH—There would be no change in SS for people 55 and older. For those under 55 they’d have the option of staying in the SS government run system or enter into a guaranteed personal retirement account plan. NEITHER of these options privatizes Social Security! The plans would be overseen by Social Security and NOT private companies!

Fact of the matter is that Ryan’s plan is very simple and workable. This nation has got to start somewhere and reform the tax codes, Medicare, Medicaid, Health care, Jobs programs, and others. Ryan’s plan provides a starting point for REAL REFORMS. It should be clear to everyone now that this nation cannot afford to continue down the same road we have been!

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The Urban-Brookings Tax Policy Center (TPC) estimates that extending the Bush and other expiring tax cuts would cost $5.4 trillion over the next decade and that Chairman Ryan’s additional tax cuts would cost another $4.6 trillion. That means Chairman Ryan is proposing nearly $10 trillion in tax cuts (relative to current law) that heavily favor high-income Americans even while claiming that his budget’s severe cuts in basic low-income programs like Medicaid, food stamps, and Pell Grants are needed to rein in unsustainable deficits.[2]

Numbers for Corporate Tax Cut Also Don’t Add Up
The numbers related to Chairman Ryan’s corporate tax cuts — cutting the corporate rate to 25 percent and essentially eliminating U.S. tax on the foreign profits of U.S. corporations — also don’t add up. Here, too, Chairman Ryan claims that he would cover the cost by closing tax expenditures, without offering any specific proposal to do so. This ignores a Joint Tax Committee (JCT) analysis[8] of last fall that found that eliminating nearly all of the major corporate tax expenditures — notwithstanding their popularity among powerful corporate lobbies — would only offset the cost of cutting the corporate tax rate to 28 percent. Moreover, the JCT analysis noted that such a change could very well add to long-term budget deficits, because some of the savings from eliminating corporate tax expenditures would not continue beyond the ten-year budget window.