Points to Paul Ryan's Path to Prosperity

Politics/Social Issues

By: hummingbirdee     21-Aug-2012

Introduction:

Paul Ryan, the House Budget Committee chairman and now Vice Presidential candidate, proposed a plan which he calls Path to Prosperity. This plan would help control federal spending and reduce the debt of the United States. The plan has been controversial. Some believe it to be brilliant while others attack it

Military Spending

Paul Ryan's Path to Prosperity protects military spending. Both political parties agreed to cut military spending when they fought over the debt ceiling. Paul Ryan believes that the military should be strengthened instead of weakened and that we should take care of our troops.

Taxes

Paul Ryan would like to see the corporate tax rate cut from 35 percent to 25 percent. He also proposed that there be two individual tax rates. One would be at 10 percent and the other at 25 percent. The total tax revenue would stay at the same percentage as it is today.

Medicare

Paul Ryan has been attacked by the Democrats for wanting to throw grannie over the cliff. His path to prosperity is to leave Medicare the way it is for those 55 and older. For those younger than 55, he proposed giving the option of a subsidy to help pay for health insurance premiums. This would not be a government run program.

Balanced Budget

Paul Ryan's plan is to ultimately balance the budget. Even though he has drawn much attention, either for or against his ideas, he at least has a plan. Congress is now at a stand still without a budget. His proposal would balance the budget around the year 2040. That seems like a long way down the road, but at the current rate of spending, it could go on for eternity.

Savings

Paul Ryan's path to prosperity includes health care reform. There would be cuts in Medicaid and food stamps. Instead, there would be block grants awarded to individual states to help those in need. Paul Ryan proposed that financial aid for college be reduced and that federal employees would have to pay more into their own pensions. He also believes in freezing federal pay until 2015, cutting the federal workforce and totally eliminating Freddie Mac and Fannie Mae.





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