Paul Ryan Falls Apart When Asked How Romney Will Pay for Tax Cuts for the Rich

[jmowreader]

4. Paul Ryan is SO fortunate I wasn't interviewing him this morning

Ryan: "When Reagan did this, it worked."

Me: "No, Paul. When Reagan did this in August 1982, by his signing of the Kemp-Roth Tax Cut, it immediately began a 16-month string of higher unemployment rates that ended with a 10.8 percent unemployment rate, the highest recorded in the post-World War II era. It also resulted in a rough tripling of the national debt and a rough tripling of the deficit--we're talking something like 270 percent of what it was before Reagan took office. And no, taxes did NOT go down for everyone. Some of the tax deductions and credits--no one knows what a "loophole" actually is, so don't use the term with me--Reagan eliminated, like the non-mortgage interest deduction, caused the working class taxpayer's taxes to go up, sometimes significantly. And one of the business deductions Reagan eliminated, the deduction for "passive loss" that makes rental real estate profitable, killed an entire industry, the Savings and Loan Banks. Nothing Reagan did actually worked, and if your head wasn't shoved so far up Ayn Rand's ass you can tell what she had for dinner three days ago you would know that."