Ryan would eliminate taxes on interest, capital gains, dividends and death. The corporate income tax, the world's second-highest, would be replaced by an 8.5 percent business consumption tax. Because this would be about half the average tax burden that other nations place on corporations, U.S. companies would instantly become more competitive -- and more able and eager to hire.
Medicare and Social Security would be preserved for those currently receiving benefits or becoming eligible in the next 10 years (those 55 and older today). Both programs would be made permanently solvent.
Will, however, fails to note how Paul Ryan will balance the budget on the backs of poor seniors.
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