But according to the Washington Post’s resident policy wonk, Ezra Klein, Ryan’s budget is an exercise in political cynicism. Ryan talks a good game about upward mobility and intergenerational justice, says Klein, but the cuts he makes to education, to food stamps, to transportation infrastructure and to everything else besides defense “are draconian.”
Ryan’s budget would cut taxes on millionaires by more than $250,000. And when you add it all up, Klein says 62% of Ryan’s budget cuts come from programs for low-income Americans while 37% of tax benefits go directly to Americans earning more than $1 million a year.
Seems to ring a bell.
Austerity via benefit cuts have real consequences. This about a sad event in Greece
Dimitris Christoulas shot himself in the head in Athens because he had debts that he could not afford to pay back. Witnesses said the retiree shouted “I have debts, I can’t stand this anymore” before he pulled the trigger, reported MSNBC. A suicide note found in his pocket said he would rather die than scavenge for food.
“I see no other solution than this dignified end to my life, so I don’t find myself fishing through garbage cans for my sustenance,” he wrote in his suicide note, according to BBC.
There is a better, no make that a much better solution. Raise taxes on the 1%. You make more than $750,000, then tax that top $250,000 at fifty percent.
You make $5 million, then tax everything over $1 million at 65 percent.
And no more little capital gains loophole for those colostomy bags that work on Wall Street. They pay the same as everybody else.