"Paul Ryan’s Roadmap bucks this trend and seeks to reverse our disastrous course with a series of commonsense measures. Here are some of the plan’s highlights:
- Allowing those under 55 to invest over one-third of their current Social Security taxes into personal retirement accounts, similar to the Thrift Savings Plan available to federal employees;
- Placing future Medicare beneficiaries (those currently under 55) into a semi-private programs similar to those currently used by Members of Congress;
- Reducing the tax code into two rates: 10% on income up to $100,000 for joint filers and $50,000 for single filers, and 25% on taxable income above these amounts;
- Eliminating the alternative minimum and the death tax;
- Doing away with taxes on interest, capital gains and dividends;
- Replacing the corporate tax—currently the second highest in the industrialized world—with a business consumption tax of 8.5%;
- Imposing a 10 year discretionary spending freeze....." Front Page Magazine
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