Wallace: You're the master of he budget, so, briefly, let's go through the plan. The Obama camp says, independent groups say, that you cut those tax rates for everybody, 20%, it costs five trillion dollars over ten years. True?All of that is total bullshit. Rambling, desperate, nonsensical, mendacious bullshit.
Ryan: Nah, it isn't in the least bit true! Look, this just goes to show if you torture statistics enough, they'll confess to what you want them to confess to. That study has been so thoroughly discredited; it wasn't even a measure of Mitt Romney's policy. Here's what we're saying—
Wallace: So how much would it cost?
Ryan: It's revenue neutral…
[crosstalk]
Wallace: No no, I'm just talking about cuts, and, we'll get to the deductions, but the cut in tax rates.
Ryan: The cut in tax rates is lower all Americans' tax rates by 20%.
Wallace: Right, how much does that cost?
Ryan: It's revenue neutral.
Wallace: It's not revenue neutral unless you take away the deductions. [crosstalk] No, we're gonna get to that in a second. The first path, lowering the tax rates—does that cost five trillion dollars?
Ryan: No, no—look, I won't get into a baseline argument with you, 'cuz that's what a lot of this is about... We're saying: Limited deductions, so you can lower tax rates for everybody, start with people at the higher end— Here's the way it works: I've been on the Ways and Means Committee for twelve years. Both parties—Republicans and Democrats—have junked up the tax code with so many giveaways and so much special interest tax breaks [sniff]— What we're saying is: You keep your money in your pocketbook and your business and your family in the first place. The way it works today is: You give more of your money to Washington, and then if you do what Washington approves of, you can have some of it back. We're saying: Keep it in the first place. And every time we've done this, whether it was Ronald Reagan working with Tip O'Neill— The ideas from the Bowles-Simpson Commission on how to do this— There's been a traditional Democrat and Republican consensus— Lowering tax rates by broadening the tax base works. And you can—
Wallace: But I have to point out, you haven't given me the math.
Ryan: No, but you— Well, [chuckles] 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% 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, and therefore they will not send as much money to Washington, and they'll keep it and decide for themselves. When we've done this, we've created economic growth.
Chris Wallace could give Paul Ryan fully one hundred hours to "go through all of the math," and he wouldn't be able to do it, because the issue is not, despite his hilarious claim, a lack of time, but a lack of coherent policy.
I cannot believe there's a chance this dildobrain and his dipshit running mate have a real chance at becoming the next leaders of the United States. Maude help us.
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