Tax Depreciation Schedules Australia for House Depreciation.
House (ryan) tax plan
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Transcript of House (ryan) tax plan
Tax Fairness WI -- taxfairnesswi.org
The House (Ryan) tax planin 7 simple slides
As passed by the US House of Representatives
Tax Fairness WI -- taxfairnesswi.org
These are the US income tax brackets
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Less income More income
Tax Fairness WI -- taxfairnesswi.org
House (Ryan) budget turns 6 brackets into 2(It doesn’t say what $ level the brackets are)
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Less income More income
Tax Fairness WI -- taxfairnesswi.org
Compare the two
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Current brackets
Ryan’s brackets
Tax Fairness WI -- taxfairnesswi.org
In the House (Ryan) plan, three brackets at the top pay less; one near the bottom pays less
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Tax Fairness WI -- taxfairnesswi.org
That means much less revenue is collected, and tax breaks for the wealthiest
So Ryan has promised to close loopholes and exemptions that mainly the rich use
Paul Ryan, interviewed by Bob Schieffer of CBS for 60 Minutes, Aug. 12, 2012“Take away the tax shelters that are uniquely enjoyed by people in top tax brackets so they can’t shelter as much money from taxation and so we can lower tax rates for everybody to make America more competitive.”
Tax Fairness WI -- taxfairnesswi.org
But it’s an empty promise:The House (Ryan) budget eliminates no
loopholes; no details forthcoming
Question by Brit Hume, Fox News, Aug. 14, 2012: What loopholes and deductions would be eliminated?
Answer by Paul Ryan:“That is something we should do in the light of day through Congress.”
Tax Fairness WI -- taxfairnesswi.org
What are we left with?A budget that slashes revenue, forcing cuts
“Ryan’s budget, recall, would raise $2 trillion less in tax revenue over the next decade than President Obama’s budget. Ryan’s plan would also spend $5.3 trillion less over that time.”
Ezra Klein, Washington PostAug. 12, 2012