Tax Cuts and Cuts to Medicare & the Social Compact
Center for Medicare Advocacy Executive Director Judith Stein was recently featured in the New York Times explaining how the devastating tax bills will lead to devastating cuts to Medicare and the social compact we all rely on.
Re “Republicans Are Coming for Your Benefits,” by Paul Krugman (column, Dec. 5):
Make no mistake: The tax cuts for corporations and wealthy people that Congress is determined to pass will lead to major cuts to health and economic security for the rest of us.
The Congressional Budget Office anticipates that Medicare alone will be cut by $25 billion in 2018, and the bills also set up future cuts to Medicare, Medicaid and Social Security. The tax legislation would also increase taxes for millions of households with yearly incomes below $200,000.
American families will be expected to pay the price for the trillions added to the federal deficit. Indeed, Senator Marco Rubio said recently that passage of the tax bill “will mean instituting structural changes to Social Security and Medicare.”
Speaker Paul D. Ryan said Congress will have to cut so-called entitlement programs. That’s code for Medicare, Medicaid and Social Security.
Most people and families won’t benefit from these tax cuts. Yet most will be harmed by the spending cuts needed to pay for them. Instead of gutting the social compact Americans rely on, Congress should work to pass true tax reform that helps all Americans and invests in a better future for everyone.