Of course, when you put it that way, it’s no wonder conservatives would support it:
• The Roadmap would raise taxes on Americans making between $20,000 and $200,000 while slashing taxes in half for the wealthiest Americans. Some three-fourths of Americans would face tax increases.
• The Roadmap would replace corporate taxation with a regressive consumption tax. The corporate income tax would be replaced by an 8.5 percent flat tax. “Not only would corporate taxes fall dramatically, but the profits passed on to owners and shareholders would be tax free, generating significantly more wealth for
the owners of businesses.”
• The Roadmap would place the entire burden of deficit reduction on spending cuts. “The hefty tax hikes on the middle class included in the plan do not go toward deficit reduction. Nor does the Roadmap’s overall revenue plan improve the long-term fiscal outlook. The plan actually reduces federal revenue relative to either current law or current policy.”
• The Roadmap calls for dismantling Medicare and Medicaid, defunding important social programs without addressing the rising cost of health care throughout the economy, and, of course, making our class-based rationing of health care even worse.
• The Roadmap would cut benefits and partially privatize Social Security. The retirement age would be raised, benefits would be cut for most workers now under 55, and the 76-year-old social insurance program “would be gradually replaced with a two-tiered system of privatized accounts for the wealthy and a schedule of reduced benefits unrelated to lifetime earnings for lower-income working Americans.” For a worker who is now 25, that would mean a 24 percent cut in benefits upon retirement, according to the Center on Budget and Policy Priorities