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Here's The Huge Tax Cut That Rich People Will Get Under Paul Ryan's Budget

Mar 12, 2013, 20:14 IST

eschipul at www.flickr.comAs part of Paul Ryan's plan, the top tax rate would be substantially reduced.

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Currently the highest tax bracket is 39.6%.

These bullet points are from Paul Ryan's plan:

  • Simplify the tax code to make it fairer to American families and businesses.
  • Reduce the amount of time and resources necessary to comply with tax laws.
  • Substantially lower tax rates for individuals, with a goal of achieving a top individual rate of 25 percent.
  • Consolidate the current seven individual-income-tax brackets into two brackets with a first bracket of 10 percent.
  • Repeal the Alternative Minimum Tax.
  • Reduce the corporate tax rate to 25 percent.
  • Transition the tax code to a more competitive system of international taxation.

For more from the plan, see here >

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