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The GOP Budget In One Chart

By CAP Action War Room

"The GOP Budget In One Chart"

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A Budget to Benefit the 1 Percent

Tax Day is coming up on April 17, so it’s worth remember who will pay more in taxes under the Ryan-Romney Republican budget — the poorest Americans — and whose taxes will be cut in dramatic fashion — the very wealthiest Americans.

If the percentages aren’t shocking enough, the Center on Budget and Policy Priorities reports that the Ryan-Romney budget would give each millionaire a $265,000 tax cut on top of the Bush tax cuts for the wealthy, which it of course also extends.

It should also be noted that Rep. Paul Ryan (R-WI) has promised to close trillions in unspecified tax loopholes, which would likely result in tax increases for millions more middle class Americans than are depicted in this chart. ¬†We can’t say for sure, however, because Ryan refuses to name a single one of the loopholes he’d close.

IN ONE SENTENCE: Instead of ending Medicare in order to slash taxes on millionaires, it’s time to pass the Buffett Rule so millionaire start paying their fair share.

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