Congressman Paul Ryan (R-Wisconsin) was on Fox News Sunday with Chris Wallace talking about his new GOP budget plan. After the disastrous roll out of last year's budget plan, widely panned for its $6,000 Medicare voucher, Ryan has polished up his approach. He says the new plan would simplify the tax code, "broaden the tax base," and close tax loopholes. You can watch the interview here.
In an uncharacteristic move for a Fox News anchor, Wallace asks some tough questions of the Chair of the House Budget Committee. Since the Ryan plan would lose 10 trillion dollars of revenue over ten years, Wallace asked exactly which tax loopholes would be closed to raise the revenue that would be lost from reducing the tax rate. But Ryan could not name specific loopholes that he would close as part of his plan because "that's not the job of the budget committee."
Since "broadening the tax base" could also be read as "socking it to the middle class," Wallace asks "are you willing to say that it would not only be revenue neutral, but also distributionally neutral which means that the wealthy aren't going to benefit and the middle class isn't going to suffer?"
Ryan's reassuring response? "There's no way to know the answer to that question." Ryan's name is frequently raised as a possible vice presidential candidate.