Republican Paul Ryan Proposes Fiscal Discipline & Reform

Posted on Tuesday, March 20, 2012 by Post Scripts

Posted by Tina

Paul Ryan proposed a budget today that is remarkable in scope featuring simplification of the tax code, lower tax rates for individuals and businesses, and reform of the Medicare system. Read his article in the Wall Street Journal, “The GOP Budget and America’s Future” for his review of budget details.

Our budget’s Medicare reforms make no changes for those in or near retirement. For those who will retire a decade from now, our plan provides guaranteed coverage options financed by a premium-support payment. And this year, our budget adds even more choices for seniors, including a traditional fee-for-service Medicare option.

We also introduce a competitive-bidding process to determine the growth of government’s financial contribution to Medicare. Forcing health plans to compete against each other is the best way to achieve high-quality coverage at the lowest cost, and implementing these reforms in Medicare can have the effect of lowering health-care costs for everyone. This is the key to increasing access and affordability while preventing government debt from threatening the health security of seniors and the economic security of all Americans.

Our budget also spurs economic growth with bold tax reform–eliminating complexity for individuals and families and boosting competitiveness for American job creators. Led by House Ways and Means Committee Chairman Dave Camp, our budget consolidates the current six individual income tax brackets into just two brackets of 10% and 25%.

We propose to reduce the corporate tax rate of 35%, which will soon be the highest rate in the developed world, to a much more competitive 25%. Our budget also shifts to a “territorial” tax system to end the practice of hitting businesses with extra taxes when they invest profits earned abroad in jobs and factories here at home.

We reject calls to raise taxes, but revenue nevertheless remains steady under our budget because we close special-interest loopholes. More important, our reforms will grow the economy–and the faster the economy grows, the more revenue the government will have to meet its priorities and start paying down the debt.

Ryan’s tax proposals and reforms are based on ideas from both the Clinton and Reagan era’s and are supported by members of both parties. I hope you will read the full article.

To read the bill go here.

P.S. As reported on FOX Business this morning, Democrats have already created a negative ad. It has the same snarky attitude as the Push Granny Off the Cliff ad from last year. At this serious economic juncture you would think they would take our debt and joblessness seriously, however, they have chosen to continue with juvenile antics and politics. Do they think we won’t notice their lack of seriousness? Or are they already defeated?

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3 Responses to Republican Paul Ryan Proposes Fiscal Discipline & Reform

  1. Libby says:
    Tuesday, March 20, 2012 at 8:34 pm

    Ah yes … you oldsters get to subsist at the trough in perpetuity … and the youngsters … they can bugger bloody all. That’s gonna go over real well … and cinch the next Republican Presidency … in your dreams.

  2. Tina says:
    Tuesday, March 20, 2012 at 10:42 pm

    We’ll see. It does lay to rest that democrat mantra of a do nothing party. Your guys in the Senate are over 1050 days without a budget…to scared of what they would have to propose in today’s climate of HEAVY, GROWING debt cused by BIG spending government and resulting in NO JOBS or OPPORTUNITY for the average citizen. So Democrats don’t put their butts on the line in an election year…what bravery…and how honest and forthright!

    But you didn’t bother to read much about the plan anyway…did you!

    Here’s a bit more info:

    According to reason:
    http://budget.house.gov/News/DocumentSingle.aspx?DocumentID=285690

    Ryan’s new budget would also retain a “traditional” government-run Medicare option that seniors could buy into with their premium support payments.
    Two things stand out about this passage. The first is how gradual the transition from today’s single-payer Medicare system to a fully premium support driven system would be: In 18 years, more than 60 percent of the Medicare population would still be enrolled in the current system. Nearly four decades from now, large remnants of today’s system would still exist, with nearly 10 percent of Medicare enrollees still enrolled. And even that doesn’t capture the glacial slowness of the change. Under Ryan’s updated plan, many seniors would still be enrolled in a premium-supported version of government-run Medicare. It is hard to describe this as a radical change to the system.
    And yet as gradual as the transformation would be, the budgetary effects would be significant4.75 percent of the economy in 2050 compared with 7.25 percent under the CBO’s more realistic alternative budgetary scenario.

    More info here:
    http://budget.house.gov/bipartisanhealthoptions/

    This morning, U.S. Senator Ron Wyden (D-OR) and U.S. Representative Paul Ryan (R-WI) introduced a new proposal that represents a major advance in the effort to build a more secure future for the millions of seniors who rely on Medicare.
    The new report from Sen. Wyden and Rep. Ryan, titled Guaranteed Choices to Strengthen Medicare and Health Security for All: Bipartisan Options for the Future, outlines a bipartisan path forward on expanding health care choices for seniors while preserving a traditional Medicare plan as an option. The report also proposes to give Americans under 65 more power and freedom to purchase coverage they can carry with them into retirement.
    Sen. Ron Wyden had this to say about the proposal:
    Paul Ryan shares my belief that we dont hold election certificates to sit on the sidelines and that the only way to tackle some of the big challenges facing our nation is to work together on big solutions. Paul has also long-shared my view that the best way to hold down health costs is to give all Americans the ability to hire and fire their insurance company. Guaranteeing a future for traditional Medicare is a big challenge and it is our hope that outlining areas where Democrats and Republicans can reach agreement will help Congress rise to that challenge.
    Rep. Paul Ryan stated:
    Ron Wyden has been a consistently strong leader on market-based health insurance reform and a true fighter when it comes to protecting seniors, so it was only natural that we should work together on a plan that saves Medicare from fiscal threats, strengthens the program through expanded choice, and guarantees that all seniors will have the means and the freedom to purchase coverage that is tailored to their needs. I am also proud to support Sen. Wydens efforts to empower small businesses and their employees, so that Americans under 65 can find better health care options that they can carry with them into retirement.

    Todays report represents a major advance toward building the kind of bipartisan consensus that is going to be absolutely critical as we seek to meet our nations greatest fiscal and economic challenges. By empowering seniors to use choice and competition to control costs and improve quality, our plan ensures that Medicare remains a guaranteed, affordable option for all seniors for decades to come.

    Choices Libbychoices, choices and competition…and freedom…freedom from oppressive government control! With the bonus of lower costs and better coverage and care…those who want to remain in the current system have the option to do so. It also begins to reverse the path of an ever greater debt burden!

  3. Chris says:
    Wednesday, March 21, 2012 at 7:33 pm

    So, the Republican plan seems to be:

    Step 1: Make life even harder for the poor
    Step 2: Make life even easier for the rich
    Step 3: RECOVERY!

    Yeah, let’s see how people react to this in November.

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