Today the GOP presented their budget proposals for 2013. We want you to have a read and then let us know your thoughts
• View the full document, The Path to Prosperity, here
This morning, congressman Paul Ryan presented the 2013 Republican budget. Politicians and analysts have debated what the proposal would look like in practice – but now it's your turn. Dive into the document and let us know what you find most interesting.
To get you started, here are some of the plan's biggest takeaways:
Taxes
The Republican budget reduces cuts tax rates and reduces the number of tax brackets to two: 10% and 25%. The budget does not specify which income levels fall into the two.
The plan nearly eliminates US taxes on American corporations' earnings from overseas operations.
Healthcare
The Republican budget mandates the repeal of Obamacare in its entirety and reform social safety net programs (food stamps, medicaid) into block grants for states.
Deficit
The cuts to Obamacare allow Republicans to achieve drastic deficit reduction goals.
The Republican budget plan would produce deficits totaling less than half of what the Congressional Budget Office says Obama's fiscal 2013 budget plan would rack up.
US debt
The Republican budget would accumulate $3.1tn in additional debt through 2022, less than half of the $6.4tn that Obama's budget forecasts.
Now that you've got the basics, dive deeper into the budget itself and tell us what you find.