Why The GOP/Ryan Budget is a Non-Starter for LibertariansSubmitted by Ed Thinking on Wed, 03/13/2013 - 17:39
After Rep. Paul Ryan (R-Wis.) released the Republican budget plan for 2014, he received public kudos from small-government groups such as Americans for Prosperity (AFP) and Americans for Tax Reform (ATR). He won praise despite proposing a 42 percent increase in annual federal spending over the next decade and locking in tax increases pushed by President Obama.
"ATR Applauds House GOP No Net Tax Hike Balanced Budget Plan," which is a particularly curious statement given that the GOP budget incorporates the tax increase in the fiscal cliff deal. Arguably more problematic, while Ryan's budget zeroes out all spending on Obamacare, it keeps many of that plan's taxes. Those new levies are expected to raise about $800 billion in revenue over the next decade and include:
A new 3.8 percent tax on capital gains and dividends on households that earn more than $250,000 a year, 0.9 percent additional Medicare taxes on all household income over $250,000 a year, a new 2.3 percent tax on medical devices and a 10 percent tax on tanning salon services.