The Truth about Paul Ryan's Tax Plan | Chris Edwards | Cato Institute: Commentary

The Truth about Paul Ryan's Tax Plan | Chris Edwards | Cato Institute: Commentary: 'Liberals rail against the idea of cutting the top income tax rate from the current 35 percent, but Ryan’s lower 25 percent rate was not picked out of thin air. IRS data show that taxpayers with the highest incomes currently pay an average of about 25 percent of their income in income taxes. At the same time, middle-income taxpayers pay an average of roughly 10 percent. That is why Ryan’s two-rate tax structure of 10 and 25 percent would collect about the same amount of money from the same income groups as the current code if we got rid of the deductions and credits.'