Paul Ryan Would Likely See Healthy Tax Cut Under His Tax Plan

Source: Huffington Post

Paul Ryan's tax plan would have saved the presumptive Republican vice presidential candidate and his wife Janna about $22,000 in 2011, a calculation by The Huffington Post found.

In 2011, Ryan and Janna paid $64,764 in taxes on income of $323,416, according to tax returns released Friday afternoon. If the tax code were rewritten as Ryan has proposed -- raising taxes for many lower-income taxpayers while reducing the tax burden for the wealthiest Americans, critics charge -- the family would owe about $43,000 in taxes.

Ryan released his tax filings, which also include his return for 2010, in the midst of a controversy over whether his would-be boss should make public more of his own tax returns. Last week, Mitt Romney, who has thus far released his 2010 return and an estimated return for 2011, told reporters that he paid no less than 13 percent of his income in taxes for the past decade, in an effort to defuse an issue that has threatened to overshadow his economic message.

Romney pays a lower rate than most middle-class taxpayers because most of his income comes from investments, which are taxed at a lower rate than traditional income. If his running mate had his way, Romney would pay much less.


Read more: http://www.huffingtonpost.com/2012/08/18/paul-ryan-taxes_n_1803718.html

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This is why Romney's tax returns matter! Romney, even more than Ryan, stands to make out like a bandit under his proposed tax plans. This is question of policy and conflict of interest. The American people should understand that Romney stands to personally benefit a great deal under his proposed plan. Romney should have to explain why given him millions in additional tax breaks helps the middle class.