Paul Ryan’s convinced: time to cut taxes on the wealthy

There are some congressional Republicans who believe the party’s commitment to supply-side, trickle-down tax policy is in need of an overhaul. Sen. Mike Lee (R-Utah), for example, still wants expansive tax breaks, but believes the cuts should be directed primarily at the middle class, most notably through expansion of the child tax credit. House Budget Committee Chairman Paul Ryan (R-Wis.), soon to be the new House Ways and Means Committee chairman, wants to make one thing clear: those within his party who question the value of tax breaks for the rich are wrong. Ryan says that cutting the top rate is “even more pressing now” than it was back then “because the American economy was so dominant in the global economy and capital was not nearly as mobile as it is today.” Ryan added that he’s a “classic growth conservative,” who believes, “Growth occurs on the margin, which is a wonky way of saying, if you want faster economic growth, more upward mobility, and faster job creation, lower tax rates across the board is the key – it’s the secret sauce.”