Taxes

Will Paul Ryan Give Trump a Big Tax Cut? Funny You Should Ask

JM Ashby
Written by JM Ashby

Speaker of the House Paul Ryan (R-WI) participated in a question and answer session this morning with New York Times Deputy Washington Editor Jonathan Weisman where Ryan was asked if "tax reform" (read: tax cuts for the rich) will afford Donald Trump a tax cut.

This was apparently a very funny question to Paul Ryan, because he apparently doesn't give a shit one way or the other.

“The issue that I think gets confused in this whole ‘1 percent’ conversation is, 80 percent of all of our businesses in America pay their taxes as individual people,” he said. “We call them pass-throughs, LLCs, sole-proprietors, subchapter S corporations—”

“—The Trump ‘corporation,'” Weisman interjected. At that point, Ryan seemed to stumble.

“I think that’s a c-corp actually,” he said. After Weisman insisted that it wasn’t, Ryan laughed and added, “I actually don’t know the answer to that. I didn’t really look into that one.”

Ha! Get it? Because cutting taxes for schmucks like Trump is whole point anyway so who cares?

The Trump Organization is, in fact, an LLC that would benefit greatly from the enormous, budget-busting tax cuts the White House is calling for.

  • Scopedog
    • Draxiar

      Never fails to bring a smile to my face…

  • Badgerite

    It doesn’t actually matter if the massive amounts of transfer of wealth from public coffers to private coffers goes to exceedingly rich individuals exceedingly rich corporations. Either way, the public treasury is gutted to pay for what is essentially the GOP vanity of trickle down economics which has failed this country and its middle class “working man” for the last 50 years at least. Tax cuts that are targeted to middle class can stimulate consumption and therefore the economy. If you take money away from the people by removing benefits that government provides and thereby free up their own money to spend on consumption, you are simply going to transfer wealth upward and harm the economy overall.
    It doesn’t stimulate investment to provide money for investment to people who are already rolling in money for investment.
    And whatever investment it does stimulate is likely to be offshore or invested in automation. The American infrastructure will still be crumbling and non competitive when compared with other industrialized nations.

  • muselet

    “There’s a saying: ‘Not a cent for the 1 percent,’” Weisman said. “We do know that the affluent have done pretty well over the last 20 years as the middle class has struggled. So can you write a simplified tax code and keep it progressive?”

    [link omitted]

    The short answer is no. The long answer is that a progressive tax code requires some irreducible measure of complexity, but the current tax code is as complicated as it is because of tax breaks, loopholes and other jiggery-pokery added at the behest of—mostly—monied interests. Paul Ryan, if he were capable of basic honesty, would say something along the lines of, “I don’t care about having a progressive tax code.”

    “Lower corporate tax rates, and workers get better wages,” [Ryan] argued.

    Objection. Assumes facts not in evidence. Besides, as Kevin Drum reminds us, corporate tax cuts don’t really have much effect on the economy as a whole.

    Shorter me: Paul Ryan is as full of shit as a goose.

    –alopecia

    • Badgerite

      Shorter you nails it.

    • notanncoulter

      not to pick nits, but it’s actually more like the last 40 years that the middle class has been getting screwed and sacrificing everything. and that tired line about how the top 5% [or whatever number they pull out of rush limbaugh’s ass] pay most of the taxes is bullshit – it’s because they have ALL THE MONEES!

  • Dread_Pirate_Mathius

    Notice, again, how the Red Team has completely shut up about the debt and deficit.

    Goddamn crickets.

    • At the end of the day, all politics aside, the Rs’ focus on debts and deficits when Ds are in office and their focus on tax “reform” when they are in power is not just infuriating partisanship, it’s preventing America from solving the very problems created by Rs being in power. It’s killing the country.

      • Badgerite

        Exactly. Thousand up votes at least.

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