|Ryan's budget proposes massive cuts in social programs and 'special-interest loopholes and tax shelters that litter the code.' But 62 percent of the savings would come from programs that benefit the lower- and middle-classes, who would also experience a tax increase. That's because while Ryan 'would extend the Bush tax cuts, which are due to expire at the end of this year, he would not extend President Obama's tax cuts for those with the lowest incomes, which will expire at the same time.' Households 'earning more than $1 million a year, meanwhile, could see a net tax cut of about $300,000 annually.'
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Sheila Samples is an Oklahoma writer and a former civilian US Army Public Information Officer. She is a Managing Editor for OpEd News, and a regular contributor for a variety of Internet sites.
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