Paul Ryan slams Dems' millionaire surtax


The GOP in recent weeks has seized on Obama administration loans to bankrupt solar energy firm Solyndra as an example of such cronyism.

Ryan reiterated his calls to means-test Medicare and other entitlements as a better alternative to taxes on the wealthy and stimulus. He accused Democrats of “preying on people's emotions of envy [and] fear” instead of trying to reform out-of-control government spending.

On the other hand, both parties might be able to agree on corporate tax reform that eliminates loopholes and lowers rates. So far a sticking point has been whether to use new revenue from such reforms to reduce the deficit.

“I really think there is a shot at bipartisanship on the corporate business side,” he said.

The issue is one of competitiveness with other nations that have a much lower corporate tax rate, he said, citing lower rates in Britain and Ireland.

“We can no longer take for granted that we are the world-dominating superpower,” Ryan said.