Wednesday, August 18, 2010

The Ryan Plan - Got Anything Better?

Rep Ryan has presented the most clear and credible approach of any that I've seen.
And, once again, I thank Mr. Krugman for his unique ability to make other economists look smart.
"There's a lot of data that shows the burden of corporate taxation is born on the worker and the consumer, in the form of taxes being passed on through prices or being taken out of wages. So the point is this system is not designed to raise taxes on anybody," Ryan said. "I think it will result in more jobs in America, more U.S.-based corporations, and better wages."
Ryan also responded to Krugman's criticism that his domestic discretionary spending freeze is impractical and doesn't spell out exactly which programs would be cut. "Domestic discretionary spending went up 84 percent last year," said Ryan. "There has been such a gusher of domestic discretionary spending that I think we can live with a freeze for a long time to come." The point of a spending freeze, said Ryan, is to put "strong enforceable controls in place and then make the experts, whether it be the appropriators or the agencies, come up with a way to live within their means."

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