Our old pal Ryan Ellis at Americans for Tax Reform, who haunts Twitter under the ridiculous name Taxplaya and punctuates like e e cummings, asks: “i wonder what all the ‘conservatives’ [Ed: Sneer quotes his] like @KevinNR [Ed: That’s me] et al think now that we have a no-tax-hike balanced budget plan from paul ryan.”
Happy to answer. I think:
2. It doesn’t balance the budget: It adds $6 trillion to the debt.
3. It will probably raise taxes. Getting rid of the mortgage-interest deduction (which I endorse) is a half-trillion-dollar tax hike.
Don’t get me wrong: I love the Ryan proposal. L-O-V-E it. But it isn’t a balanced budget. (It is a very good move toward one.) And getting rid of exclusions while lowering the tax rates is precisely the sort of tax reform I support, even if it means a net tax increase.