Saturday, March 19, 2016

Paul Ryan Loves Income Redistribution As Long As He Can Hide It

Paul Ryan is the Speaker of House of Representative and also the architect of its tax policy.  This article illustrates how his plan increases the after tax income of the top .01%.  That is, it redistributes income to the top of the pyramid.  When Ryan is asked about using the tax system to redistribute income to those below the top of the pyramid, he claims that he does not believe in income redistribution.  His plan is designed to make it difficult to discern the direction of income redistribution.  The tax lawyers employed by the top .01% understand exactly how it works. 

Donald Trump has been riding a populist wave by telling low income citizens that he is on their side. In fact, Trump's tax plan is similar to Ryan's plan.  Trump gives his followers strong words about immigration and other things that worry them.  His message on tax policy is to let them eat cake.  Cutting taxes for the top .01% has been a feature of Republican policy since 1980.  We can't blame Trump for Republican policies that are harmful to ordinary citizens. 

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