Below are 12 things you should know about Ryan and his policies:

1. Embraces extreme individualism. Ryanheaped praise on Ayn Rand, a 20th-century libertarian novelist best known for her philosophy that centered on the idea that selfishness is “virtue.” Rand described altruism as “evil,” condemned Christianity for advocating compassion for the poor, viewed the feminist movement as “phony,” and called Arabs “almost totally primitive savages. Though he publicly rejected “her philosophy” in 2012, Ryan had professed himself a strong devotee. “The reason I got involved in public service, by and large, if I had to credit one thinker, one person, it would be Ayn Rand,” he said at a D.C. gathering honoring the author of “Atlas Shrugged” and “The Fountainhead.” “I give out ‘Atlas Shrugged’ as Christmas presents, and I make all my interns read it. Well… I try to make my interns read it.” 

2. Raises taxes on the middle class, cuts them for millionaires. Paul Ryan’s infamous budget — which Romney embraced — replaces “the current tax structure with two brackets — 25 percent and 10 percent — and cut the top rate from 35 percent.” Federal tax collections would fall “by about $4.5 trillion over the next decade” as a result and to avoid increasing the national debt, the budget proposes massive cuts in social programs and “special-interest loopholes and tax shelters that litter the code.” But 62 percent of the savings would come from programs that benefit the lower- and middle-classes, who would also experience a tax increase. That’s because while Ryan “would extend the Bush tax cuts, which are due to expire at the end of this year, he would not extend President Obama’s tax cuts for those with the lowest incomes, which will expire at the same time.” Households “earning more than $1 million a year, meanwhile, could see a net tax cut of about $300,000 annually.”

3. Dramatically increases Medicare costs for seniors, increases eligibility age. Ryan’s latest budget transforms the existing version of Medicare, in which government provides seniors with a guaranteed benefit, into a “premium support” system. All future retirees would receive a government contribution to purchase insurance from an exchange of private plans or traditional fee-for-service Medicare. But since the premium support voucher does not keep up with increasing health care costs, the Congressional Budget Offices estimates that new beneficiaries could pay up to $1,200 more by 2030 and more than $5,900 more by 2050. A recent study also found that had the plan been implemented in 2009, 24 million beneficiares enrolled in the program would have paid higher premiums to maintain their choice of plan and doctors. Ryan would also raise Medicare’s age of eligibility to 67.

4. Leaves Social Security to the whims of Wall Street. In September of 2011, Ryan agreed with Rick Perry’s characterization of Social Security as a “Ponzi scheme” and since 2005 has advocated for privatizing the retirement benefit and investing it in stocks and bonds. Conservatives claim that this would “outperform the current formula based on wages earned and overall wage appreciation,” but the economic crisis of 2008 should serve as a wake-up call for policymakers who seek to hinge Americans’ retirement on the stock market. In fact, “a person with a private Social Security account similar to what President George W. Bush proposed in 2005″ would have lost much of their retirement savings.

9. Claimed Romneycare has led to “rationing and benefit cuts.” “I’m not a fan of [Romney’s health care reform] system,” Ryan told C-SPAN in 2010. He argued that government is rationing care in the state and claimed that people are “seeing the system bursting by the seams, they’re seeing premium increases, rationing and benefit cuts.” He called the system “a fatal conceit” and “unsustainable.” 

12. Co-sponsored a personhood amendment. Ryan joined 62 other Republicans in co-sponsoring the Sanctity of Human Life Act, which declares that a fertilized egg “shall have all the legal and constitutional attributes and privileges of personhood.” This would outlaw abortion, some forms of contraception and invitro fertilization.

h/t: Igor Volsky at Think Progress

NORFOLK, Va. -– Mitt Romney will announce Rep. Paul Ryan (R-Wis.) as his running mate on Saturday, according to two sources with knowledge of the decision.

Ryan is a bold pick who will energize the Republican Party, but putting him on the ticket is fraught with risk and instantly puts Ryan’s budget plan front and center in the 2012 campaign.

Romney will announce his choice in Norfolk on Saturday morning at the beginning of a four-day bus tour through key battleground states, the campaign said Friday night. The Weekly Standard reported earlier Friday that Wisconsin Gov. Scott Walker has been asked to be ready to make the case for Ryan beginning Saturday.

Romney’s alliance with the 42-year old Ryan has become the most dramatic development of the 2012 presidential campaign. Romney had been presumed for much of the last few months to be set on a safe pick, such as Sen. Rob Portman (R-Ohio), or former Minnesota Gov. Tim Pawlenty.

But now, Romney, who is 23 years older than Ryan, will signal that he is willing to roll the dice. President Barack Obama’s reelection campaign and Democratic political groups have been eager for Romney to pick Ryan, the architect of plans to slash government spending and overhaul entitlement programs that Democrats believe are political losers.

Both liberals and conservatives will be thrilled with Romney’s choice.

Conservatives believe Ryan is one of the brightest, best young faces and minds who can cheerfully articulate a case for limited government while simultaneously arguing that a less expansive bureaucracy and a revamped entitlement system is the best way to preserve government aid and benefits for the poor, indigent and elderly.

H/T: Jon Ward at HuffPo