Podcast Highlights

Instead of tax hikes, Ryan calls for ending crony capitalism and cutting spending

“We need more successful small businesses to hire people in Wisconsin and throughout the country, and by raising their tax rates, which are already subject to go up to nearly 45% or even higher, we make them that much less competitive in the global economy. Instead of using this “tax the rich” approach, which hurts small businesses and job creation, let’s stop subsidizing the rich, stop subsidizing corporations, and stop subsidizing wealthy individuals with our entitlement programs.

What I’ve long been proposing is: Number one: Get rid of the corporate welfare, which both Republicans and Democrats have engaged in over the years, where we  put preferences, tax benefits, or just outright spending subsidies to large corporations. We have to stop doing that. Number two: Why not income-adjust our entitlement programs? Should Warren Buffett be subsidized for his Medicare purchases as much as everybody else? I think the answer is no. We can save a lot of money on these precious entitlement programs that are going bankrupt by income-adjusting our assistance and by not subsidizing large corporations.

Why don’t we save money on the spending side of the ledger, on the tax credit side of the ledger, by lowering those subsidies that go to these individuals? I think it’s better for the budget, and you’re doing no harm to the economy because you’re not raising tax rates.”

Ryan on the need for a fair, competitive tax code

“I don’t think we should pick winners and losers in the tax code. I think we should get rid of all the loopholes and lower our tax rates. I just don’t think it’s fair that a company like General Electric pays no taxes and makes billions of dollars while plenty of other companies in America pay a very high tax rate. Let’s stop picking winners and losers in the tax code in Washington. Let’s get rid of the loopholes and lower our tax rates so we can be more competitive and have a better system that helps American businesses, big and small, and ones that have yet to be developed, be more competitive so we can create jobs and get economic growth.”

Listen to job creators: reduce uncertainty and get the basics right

“We ought to go back to the basics that have always worked to grow our economy, and if you talk to any businesses run in Wisconsin - the biggest concern they have is the amount of uncertainty that is coming from government. And so, let’s address this and go to the foundations of economic growth: a regulatory environment that is stable, predictable, and fair; tax rates that are low and predictable; sound money, let’s have a system where we know the value of our dollar is going to be stable; and get our debt and deficits under control.

There’s no good substitute for getting the basic macroeconomic foundations in place and promoting policies that have proven to create jobs. What we want to do is pass ideas into law that have proven to create jobs in the past and not spend our time passing ideas that have already proven not to create jobs.”