The 2012 budget proposed by Paul Ryan has received a good deal of press attention for its audacity, with many comments on how "politically risky" it is. Well, it ought to be risky — in point of fact, it ought to bring the Republican party crashing down in the 2012 elections — but Republicans don't seem all that concerned. Once again, they are counting on the overwhelming economic ignorance and the pathetic intellectual laziness of the American people.
Yes, they want to bring the top tax rate for the rich all the way down to 25%, and the deductions they plan to eliminate are those most beneficial to the middle class. The cuts they propose have an inordinate impact on the poor, children, and the elderly. Don't even bother to ask about the estate tax. As usual, their policy advances the further transfer of wealth to the very rich from everybody else.
Are Americans really stupid and lazy enough to buy into it?
Maybe. Well, probably, especially since the Democrats are not likely to make significant efforts to educate and motivate them. The president wants to amass a billion dollars for his 2012 campaign, and given his penchant for pissing off his base over the past two years, he'll have to get almost all of it from Wall Street and other big donors. Watch for some of his signature "compromises," and be ready to put your fingers down your throat.