President Barack Obama’s senior adviser, David Plouffe, repeatedly denigrated House Budget Chairman Paul Ryan’s (R-Wis.) just-released budget plan on Sunday news shows and sought to tie it to presidential candidate Mitt Romney.
“This is really the Romney-Ryan plan. It will be rubber-stamped if Mitt Romney is president,” he said on “Fox News Sunday,” a quote he echoed on other news programs.
“All it does is drastically cut kind of indiscriminately in areas that will help the economy and showers the wealthy with big tax cuts,” Plouffe added on ABC’s “This Week.”
Ryan appeared on “Fox News Sunday” with his counterargument.
The Wisconsin Republican expressed enthusiasm about getting rid of “tax shelters” and “tax loopholes” and simplifying the tax code.
He was presented with four of the biggest deductions in the tax code: home mortgage tax deductions, the exclusion of employer-provided health care and pensions as income, and a lower tax rate on capital gains.
He referred to those deductions as “tax shelters” and said that wealthier Americans should be restricted in their access to those deductions.
“Let’s limit these kinds of deductions to the higher income earners so everyone can enjoy lower, flatter tax rates,” he said on Fox.
When asked whether wealthy Americans would disproportionately benefit from his plan, Ryan said he did not know.
“There’s no way to know the answer to that question, but we do believe in a progressive tax system. ... Whether it is distributionally the same as the current code, it’s impossible to answer that question.”