March 29, 2012 by David K. Sutton
House Passes Republican ‘Paul Ryan’ Budget Mostly Along Party Lines
Today the United States House of Representatives passed a Republican budget proposal revealed last week by Wisconsin congressman Paul Ryan (R). It passed by a vote of 228 to 191, mostly along party lines. The GOP budget stands no chance of passing in the Senate and/or being signed by President Obama.
The budget would cut $5 trillion in spending over 10 years with some of the largest cuts coming from Medicare. At the same time that it cuts spending for tens of millions of Americans, the Republican budget plan would decrease taxes for millionaires and billionaires. It would reduce the six existing income tax brackets (topping out at 35%) down to two brackets of 10% and 25%. It would also cut the corporate tax rate from 35% to 25%.
Does anybody really think our fiscal problems in this country are because corporations and the rich are paying too much tax? I continue to be amazed how Republicans manage to get re-elected when they offer draconian budget cuts to the poor while helping the rich keep more of their money. It really shows you that people are seriously blinded by ideology and Fox News nonsense or they simply aren’t paying attention.