Sunday, November 13, 2011

Paul Ryan's Speech at the Claremont Institute

A very compelling speech on the future of the American economy by Paul Ryan at the annual Churchill Dinner. Not surprisingly, many of Ryan's insights were spiced with several Churchillian wisdom and quotes. The bottom line is that to get things going again, we need to get government spending under control and hold the line on any sort of significant tax increases. As Ryan relayed:

"I actually wrote a letter to the non-partisan Congressional Budget Office asking them what kind of tax rates my kids and their generation would have to pay when they’re my age to finance the government’s current spending promises.
The CBO was quite clear: The bottom tax bracket, which is now 10 percent, would have to rise to 25 percent. The middle rate would have to rise to 63 percent. And the top rate, the rate many small businesses pay, would rise to 88 percent."


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