10 Things Mitt Romney and Paul Ryan Don't Want Americans to Know
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But Ryan's fraud does not end there. His 2011 and 2012 budgets enjoying the near-total support of Capitol Hill Republicans take the same $716 billion and use it to pay for over $4 trillion in tax cuts. As with Mitt Romney's proposed tax cut scheme, the lion's share of the payday from the U.S. Treasury goes into the accounts of the wealthiest America.
5. Romney and Ryan Will Cut Benefits for Today's Seniors Both Paul Ryan and Mitt Romney take great pains to proclaim that "I don't want any change to Medicare for current seniors or for those that are nearing retirement." They are pained because the statement isn't true. Their call to repeal Obamacare would take away free preventative care now part of Medicare and reopen the "donut hole" in its prescription drug program. (That change alone saved 5.4 million seniors over $4.1 billion last year.)
But the Republicans' attack on today's elderly doesn't end there. The Romney-Ryan ticket has proposed slashing Medicaid by a third over the next decade and turning over the reduced funds to the states in the form of block grants. Those steep reduction threaten the 6 million elderly recipients of Medicaid, a program will which pays for 33 percent of all nursing home care.
6. Romney-Ryan Plans Leaves 44 Million More Without Health Insurance Mitt Romney and Paul Ryan don't merely want to repeal the Affordable Care Act current estimated to enable insurance for 30 million more Americans by 2020. All told, ending the ACA and s giving states control of shriveled Medicaid funding would leave up to 44 million people without insurance. Earlier this month, the Commonwealth Fund estimated President Romney would preside over a staggering 72 million Americans without coverage.
7. GOP Ticket Adds Trillions More Than Obama in New Debt Thursday night, Rep. Ryan will echo Mitt Romney's charge that President Obama has added $5 trillion to the national debt during his tenure. But Romney's running mate won't just omit mention that Ronald Reagan tripled the national debt and George W. Bush roughly doubled it again. Ryan will also fail to explain that the drivers of most of the debt under Obama--two wars, the Bush tax cuts of 2001 and 2003, and the Medicare prescription drug plan--are all bills he voted for. All told, the same Republicans leaders who held the debt ceiling hostage last summer voted to raise it seven times under President Bush.
Nevertheless, as the non-partisan Tax Policy Center and other analysts have detailed, Mitt Romney's tax plan would slash federal tax revenues by roughly $5 trillion over the next decade. With Romney's demand that core defense spending be at least 4 percent of GDP, new Pentagon spending will add another $2 trillion to the red ink. Even with the steep cuts to Medicaid and non-defense discretionary spending, Romney and Ryan can't come close to offsetting the new debt unless they close all or most of the $1 trillion plus in tax credits, loopholes and deductions central to their pledge to lower rates and "broaden the base." The result is not only more "immoral" debt for the next generation of Americans, but more than projected under President Obama's plan.
8. Romney and Ryan Won't Name a Single Loophole They'd Close Mitt Romney and Paul Ryan could cauterize that hemorrhage of red ink if they could explain which of that trillion-plus dollars in tax expenditures they would stop. But Paul Ryan, who promised "We won't duck the tough issues," is just that.
Will the Romney-Ryan administration end the $63 billion Earned Income Tax Credit for working families that Ronald Reagan called "the best anti-poverty, the best pro-family, the best job creation measure to come out of Congress?" How about the $89 billion a year home mortgage tax deduction? Many of those breaks help explain the 47 percent of Americans who pay no federal income taxes, otherwise known as Mitt Romney's "victims" and Paul Ryan's "takers."