Wealthy vice presidential candidate Paul Ryan has detailed his plans (endorsed by Romney) for our government’s finances in the future.
He wants to give $4 trillion in tax cuts to the richest Americans, reduce the predominantly rich man’s capital gains tax rate to 0 percent (this will reduce Romney’s tax rate to 1 percent), and add a national sales tax, which will substantially increase the tax burden of the poor and the middle class.
On the spending side, he wants to increase defense spending, which will greatly enrich the owners of defense contracting firms, and drastically cut food stamps, Medicaid, subsidized housing and other social-service programs that provide a safety net for the poor and the middle class.
Over the last 30 years, globalization and tax cuts for the wealthy have greatly benefited the wealthy and made the poor and the middle class worse off.
Now, Ryan wants to make this trend much worse. Has he no sense of shame?
Bob Michaelsen, Denton