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Even with the same dramatic scaling back of tax expenditures for filers with incomes above $ , that TPC examined in its Romney analysis — including entirely wiping out their deductions for mortgage interest and charitable giving — families with that have incomes below $ , would have to face tax increases averaging more than $3, a year, if policymakers were to avoid increasing the deficit while reaching Chairman Ryan’s 25-percent top-tax-rate goal. Now, has a bit of wiggle room here. As mentioned above, any tax reform that qualifies for his budget “substantially lowers rates for individuals,” but it doesn’t necessarily lower them all the way to 10 percent and 25 percent. That’s just “a goal.” Here’s the full section: Substantially lowers tax rates for individuals, with a goal of achieving a top individual rate of 25 percent and consolidating the current individual income tax brackets into two brackets with a first bracket of 10 percent Compare that to the language on corporate taxes: reduces the corporate tax rate to 25 percent the difference? Ways and Means could, in theory, decide the goal is too hard to meet, and their tax reform end with a 20 percent rate and a 32 percent rate. That would be considerably easier to pay for. But is in touch with Rep. Camp, the chairman of the House Ways and Means Committee. It’s unlikely he’s committing Republicans to goals that Camp doesn’t intend to come anywhere near reaching. And if and the Republican Party wanted to assure the country that their tax reform proposal would keep the code’s current progressivity, they could have said so. The critique right now of Ryan’s tax reforms is that they’re a huge tax cut for everybody. As I wrote on Friday, I don’t think that’s a fair read of what he’s promised. Rather, the eventual tax reforms are likely to include a significant tax increase on Americans, and significant tax cuts for those at the very top. http: //

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