Here's The Huge Tax Cut That Rich People Will Get Under Paul Ryan's Budget

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Photo: eschipul at www.flickr.com

As part of Paul Ryan’s plan, the top tax rate would be substantially reduced.Currently the highest tax bracket is 39.6%.

These bullet points are from Paul Ryan’s plan:

  • Simplify the tax code to make it fairer to American families and businesses.  
  • Reduce the amount of time and resources necessary to comply with tax laws.     
  • Substantially lower tax rates for individuals, with a goal of achieving a top individual rate of 25 per cent.  
  • Consolidate the current seven individual-income-tax brackets into two brackets with a first bracket of 10 per cent.     
  • Repeal the Alternative Minimum Tax.     
  • Reduce the corporate tax rate to 25 per cent.     
  • Transition the tax code to a more competitive system of international taxation.

For more from the plan, see here >

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