Mar 15, 2013
FACT CHECK: Paul Ryan Tells the Truth at CPAC
At the CPAC conference today, Republican Budget Chairman Paul Ryan told the conservative echo chamber that his budget is a statement of values and principles.
“A budget is more than a list of numbers, it’s an expression of our governing philosophy,” he said.
We rate this statement as True – with an asterisk. Here are the values and principles Paul Ryan is talking about:
Cut taxes for millionaires:
CTJ: Ryan Budget Would Deliver “An Average Net Tax Decrease of over $200,000” for Millionaires. An analysis of the Ryan budget conducted by Citizens for Tax Justice concluded: “For taxpayers with income exceeding $1 million, the benefit of Ryan’s tax rate reductions and other proposed tax cuts would far exceed the loss of any tax expenditures. In fact, under Ryan’s plan taxpayers with income exceeding $1 million in 2014 would receive an average net tax decrease of over $200,000 that year even if they had to give up all of their tax expenditures. These taxpayers would see an even larger net tax decrease if Congress failed to limit or eliminate enough tax expenditures to offset the costs of the proposed tax cuts.” [Citizens for Tax Justice, 3/13/13]
Raise taxes on the middle class:
Middle Class Families Would Pay On Average $2,000 More in Taxes Under Ryan Budget. According to a report released by the House Budget Committee Democrats “The House Republican budget increases tax breaks for the wealthiest in the country at the expense of middle-income taxpayers, who will pay an average of $2,000 more per family.” [House Budget Committee Democrats, 3/12/13]
Cut Pell grants:
Ryan Budget Freezes Pell Grant Funding to Not Keep Pace With Inflation. According to an analysis of the Ryan budget conducted by Campus Progress: “Under the House Republican Budget, Pell Grants would be capped at the current level of $5,645 for 10 years, and eliminate all mandatory funding. In other words, under Ryan’s plan, Pell Grants would not keep up with the pace of inflation and rising tuition costs, and would be worth less each successive year. [Campus Progress, 3/12/13]
End the Medicare Guarantee:
Washington Post: “All Told, Ryan Would Slash Spending on Medicare, Medicaid.” According to the Washington Post: “But Ryan projects rapid savings thereafter, primarily from cuts to health care, which account for more than half of his total savings. All told, Ryan would slash spending on Medicare, Medicaid and the new Affordable Care Act health subsidies by $2.7 trillion over the next decade. Another $700 billion in savings would come from lower interest payments on a lower national debt.” [Washington Post, 3/12/13]
National Journal: “For Those Younger Than Age 55, Medicare Could Look Unrecognizable” If Ryan Budget Were Implemented. According to the National Journal: “And, for those younger than age 55, Medicare could look unrecognizable: People receive a fixed sum of money from the federal government to buy health insurance in their old age, regardless of the way inflation has caused health care costs to increase.” [National Journal, 3/10/13]