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Entries in Paul Ryan (2)

Tuesday
Aug142012

Paul Ryan's Budget Plan Could Raise Middle Class Taxes, Says Panel

Creatas/Thinkstock(NEW YORK) -- While Mitt Romney would reportedly pay less than 1 percent of his income in taxes under Paul Ryan's previous tax plan, most Americans making less than $200,000 would see a tax hike under the budget Ryan proposed before he was selected to be Romney's running mate.

Most of Romney's income is comprised of interest income, capital gains and dividends, which are not taxed under the plan Ryan first introduced in 2010.

Ryan proposed two tax rates, 10 and 25 percent, instead of the current 6 percent.

The House Republican budget for the 2013 fiscal year, passed by the House in June, would raise taxes by $1,358 for jointly-filing households earning between $50,000 and $100,000, assuming the additional income is taxed at a 10 percent rate, according to a report published earlier this summer by the Joint Economic Committee of Congress.

Households with incomes between $100,000 and $200,000 would see their taxes increase by $2,681, the Joint Economic Committee said.

Rep. Ryan's office did not return a request for comment.

The committee reported Ryan's budget plan would give the richest Americans -- those who make over $1 million -- a tax break of about $300,000.

According to the Center for Budget and Policy Priorities, Ryan's budget plan would make the Bush tax breaks permanent, including the extra tax cuts on taxable household income above $250,000, and would cut the top tax rate paid by the wealthiest Americans and the corporate income tax rate by nearly 30 percent.

Americans for Tax Fairness Action, a left-leaning political group, criticized Ryan for giving tax breaks to millionaires and ending the Medicare guarantee.

"The bottom line is that our tax system is rigged in favor of the wealthy and big corporations who play by their own set of rules," said Sean Crowley, communications director for Americans for Tax Fairness Action.  "The tax system is not working for most Americans.  The richest already get the biggest tax breaks.  It's not fair and we need to radically overhaul our tax system."

Copyright 2012 ABC News Radio

Friday
Dec302011

Reddit Targets Alleged SOPA Supporters

John Foxx/Thinkstock(WASHINGTON) -- Wisconsin Rep. Paul Ryan denied co-sponsoring the Stop Online Piracy Act in a statement Thursday but his stand may have come too late, as the wrath of the internet has come pounding on his front door.

Introduced this fall, SOPA's supporters claim the measure will protect copyrighted media from being shared online; however, its detractors say it's a way to allow governments and copyrights holders to censor the Internet and shut down sites.

The Wisconsin representative is now dealing with the hive mind of Reddit.com, the same group that successfully pressured GoDaddy into withdrawing its SOPA support this week. Redditors have found a new strategy in their fight against the controversial act: narrowing down SOPA supporters who have seats up for grabs in this year's election cycle and funding their opponents.

Suggestions quickly rose up the Reddit ranks to remove from office Senators Lindsey Graham, R-S.C., and Bob Corker, R-Tenn., but of the many potential targets who were discussed and debated on the site, eventually Reddit landed on Paul Ryan, R-Wis. In addition to being up for reelection this fall in Wisconsin, Ryan had previously released an unclear statement regarding his stance on SOPA that had the internet pegging him as a supporter.

Once word of Reddit's plan to remove Ryan from Congress started to spread, his challenger Rob Zerban was savvy enough to embrace the community right away, participating in an "Ask Me Anything" interview with the site's users and quickly denouncing both GoDaddy and SOPA , saying the act "would devastate the free nature of the internet by allowing unilateral closing down of popular websites." After less than 36 hours, "Operation Pull Ryan" was born and over $7,500 has been donated to Zerban's campaign.

Ryan's camp was quick to respond to the negative buzz, denying any support of the act, offering a press release stating, "Contrary to false reports, Congressman Paul Ryan is not a cosponsor of H.R. 3261, the Stop Online Piracy Act. He remains committed to advancing policies that protect free speech and foster innovation online and will continue to follow the House Judiciary Committee's deliberations on this issue carefully."

While Ryan's stance on SOPA is not set in stone, his opponent's firm statements against the act have been enough to captapult him to the top of Reddit's infamous front page for the last three days.

The impact of this campaign remains to be seen and it will be interesting to watch what happens with Ryan and Zerban as we near November's elections. Earlier this month, comedian Louis C.K. appealed to Reddit directly and saw over $1 million in revenue pour in for his online-only comedy special. If Reddit's campaign fundraising can come anywhere close to the bounty Louis C.K. took in a few weeks ago, there could be some serious cash in Rob Zerban's pockets before 2011 is up.

What's more, if an internet-wide rally to unseat one congressman works, it could send a huge message about the power of the internet community and its ability to change politics.

Copyright 2011 ABC News Radio







ABC News Radio