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Originally Posted by zimmy
I have seen it reported several places. The "admittedly extreme" scenario was the authors opinion, but according to the congressional analysis, it is actually what was proposed.
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The fact is, the Ryan/Wyden budget proposal does not specify which tax exemptions would be eliminated nor on whom. The projections you cite are guesses and assumptions that probably won't happen. The tax questions will be fleshed out by the Ways and Means Committee, and political suicide is not normal procedure.
What your report, and other negative projections don't take into account, as well as making worst case assumptions, is the impact of competitive bidding for medicare insurance coverage. Bringing the cost down on the Federal Gvts. most expensive toy, as well as cutting other spending, would have a positive impact on the economy, and on the middle class.
What is more probable than eliminating all the "middle class" deductions, is the degradation of this plan, or any other long-term plan, by future administrations and congresses.
Nor am I, personally, all that ga-ga about the Ryan plan. It is still Big Government. But at least it attempts to reduce the National Debt and "save" medicare. Much of the medicare reform is similar to the Health Care Bill. But the difference, for me, is the trajectory, vector, direction. The HCB goes in the direction of nationalizing a private sector function, the Ryan/Wyden plan goes in the direction of privatizing a national plan. It is a step toward devolution of Federal power.