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Congressman Paul Ryan's "Roadmap for America's Future" [View All]

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undeterred Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-22-08 05:20 PM
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Congressman Paul Ryan's "Roadmap for America's Future"
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Paul Ryan (WI-1) is the GOP's rising young star. I wouldn't be shocked to see him run for the US Senate when Kohl retires or for president at some time in the future.

His Roadmap for America's Future was released yesterday:

The four major components of the plan, outlined in todays Wall Street Journal, include:

Health Insurance. The bill provides universal access to affordable health insurance, by shifting the ownership of health coverage from the government and employers to individuals. It provides a refundable tax credit $2,500 for individuals and $5,000 for families to purchase coverage.

Medicaid and Medicare. The bill modernizes Medicaid by giving states maximum flexibility to tailor their Medicaid programs to the specific needs of their populations. It also allows Medicaid recipients to avail themselves of the health-coverage options open to everyone else through the tax-credit option.

Social Security. Workers under 55 will have the option of investing over one-third of their current Social Security taxes into personal retirement accounts. These personal accounts are likely to grow faster than the traditional benefit. They are also the property of the individual, and are thus fully inheritable. The bill includes a guarantee that no ones total Social Security benefits from the personal accounts will be less than if he had chosen to say in the current system.

Tax Reform. The bill first of all offers individuals a choice of how to pay their taxes either through the existing law, or through a simplified code with a tax return that fits on a postcard The rates in the simplified code are 10% on income up to $100,000 for joint filers ($50,000 for single filers); and 25% on taxable income above these amounts. On the business side, the bill gets rid of our uncompetitive corporate tax currently the second highest in the industrialized world and replaces it with a business consumption tax of 8.5%, which is half the average industrialized world rate.

While not necessarily embracing every item in his package, this is a serious reform proposal to address the surging middle-class entitlements that threaten our childrens economic future. Congressman Ryan has offered a long-term solution that avoids tax increases. The Heritage Foundation has offered proposals along similar lines. We challenge those who disagree with his approach to offer their own long-term solution.

Paul Ryan's OpED in the Wall Street Journal:

It would be great to have him defeated this year by one of the progressive Democratic candidates who are running against him.

Paulette Garin

Marge Krupp
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