The Tax Policy Center finds that the Ryan plan would cut taxes on the richest 1 percent of the population in half, giving them 117 percent of the plan’s total tax cuts. That’s not a misprint. Even as it slashed taxes at the top, the plan would raise taxes for 95 percent of the population.
I don’t attribute to malice what can be adequately explained by ignorance. I think it’s possible that Representative Ryan’s belief in the economic stimulation provided by tax cuts for the richest 1% of Americans is influenced by his net worth, estimated to be from $590,000 up to $2.4 million.
Trickle-down economics is wonderful for the folks at the top.