Republican vice presidential candidate Paul Ryan delivered a weekly podcast Saturday, charging President Barack Obama with raising taxes and further burdening the middle class.
For their part, Ryan and GOP presidential nominee Mitt Romney "will start with a permanent, across-the-board, 20% cut in marginal tax rates," Ryan said in his remarks.
"Then we'll eliminate current rates on interest, dividends, and capital gains for anyone making less than $200,000 a year," he continued, citing other aspects of the proposal.
"And we will reform the tax code to make it simpler, fairer, and more competitive," he said.
The presidential tickets' differences on taxes played out on stage this month at the first presidential debate as well as the matchup between the vice presidential candidates. On Thursday, Ryan and Vice President Joe Biden argued over whether the GOP plan is "mathematically possible." Biden stipulated it would not be possible to cut rates and preserve middle-class deductions without adding to the federal deficit and debt.
At the presidential debate on October 3, Obama and Romney also sparred over the GOP challenger's tax-cut model. Romney pledged not to sign a tax plan that would increase the deficit or "reduce the burden paid by high-income Americans," while Obama charged Romney's model would cost $5 trillion.
Both Romney and Ryan have said their proposal will lead to increased economic growth.
"Do that, and our economy will come roaring back to life," Ryan said in his weekly podcast. "President Obama's tax plan will kill 700,000 jobs. Our tax plan will create 7 million new jobs and provide the kind of tax relief that our middle-income families and small businesses need."
Obama, Ryan said, "raised taxes 21 times" and would continue to raise taxes if re-elected, while the GOP ticket would lead to "a real recovery."
Comments