We all know that Willard’s tax plan appears custom designed to allow Willard to pay the lowest, possible rate, far lower than most middle class taxpayers. Willard is not alone. Raul Ryan’s tax plan is equally self-serving. Part of the $45 billion we would give oil companies in corporate welfare, lands squarely in Ryan’s own pocket.
Paul Ryan’s budget, which means austerity for most Americans, turns out to mean prosperity for Ryan and his family.
That budget, which the GOP-led House adopted as its blueprint, slashes funding for everyone from seniors to the disabled to students while preserving $45 billion in tax breaks and subsidies for Big Oil over the next 10 years, as has been widely reported.
But what we have only just learned from Ryan’s financial disclosure forms for Congress (here) that were made public this week is “he and his wife, Janna, own stakes in four family companies that lease land in Texas and Oklahoma to the very energy companies that benefit from the tax subsidies in Ryan’s budget plan,” as The Daily Beast reported today.
Ryan’s father-in-law, Daniel Little, who runs the companies, told Newsweek and The Daily Beast that the family companies are currently leasing the land for mining and drilling to energy giants such as Chesapeake Energy, Devon, and XTO Energy, a recently acquired subsidiary of ExxonMobil.
These energy giants stand to profit directly from the $45 billion in subsidies and tax breaks. How cozy!… [emphasis original]
Inserted from <Think Progress>
Here’s the bottom line. You would pay more in taxes, so they can pay less and get richer.