After the 2012 Presidential election, the Republicans and Paul Ryan have announced new ways to raise revenue and reduce the USA’s debt. The new tax plan consists of the follwing important measures:
- The Bush tax cuts for the wealthy people will be extended. The Republicans believe that these cuts result in more jobs being created by the wealthy
- Personal tax will be increased for employed single women
- Personal tax will be increased for employed citizens that are Latinos
- Personal tax will be increased for employed citizens that are under the age of 40 years
- Personal tax will be increased for employed citizens of Asian origin
- Personal tax will be increased for employed African Americans
When a reporter for The Garlic asked Mr Paul Ryan if the taxes are being increased only for people that voted mostly for the President, Mr Ryan replied that the tax increases are needed primarily to reduce the high American debt and to meet the demands by President Obama to find additional revenue sources. Mr Ryan further noted that taxes are being increased only for those groups that have made little contribution to building the nation.
