Sunday, October 8, 2017
There is currently a budget on the House floor that ignores the $20 trillion national debt that we hear Republicans railing about repeatedly when a Democrat is in the White House, but now that Republicans have full power they want to borrow and raise it by $2 trillion for tax cuts of which 80 percent benefits the top 1 percent and large corporations, 25 percent of which already pay zero taxes, yet receive millions or billions in refunds (subsidies).
Now they ask, no demand, that they be granted even more tax cuts and to pay for them in part, the Republicans propose to take trillions from our SS Trust Fund and raid Medicare and cut Medicaid, all of which they want us to believe are going broke, so it now appears they wish to hasten their demise.
One change to Medicare is you'd now have to wait until 67 to receive it. We're told of the benefits of this budget for the middle class, but their version of who's in this middle class and mine differs substantially. About 5-10 percent fit in their version, and more likely it's the multimillionaires in the top 1 percent earning 6-7 figures.
Nearly half of all real middle class families with incomes around $50,000 will actually pay more, not less. We're only told about a part of it, like the doubling of the standard deduction, but not what they're taking away that mitigates that doubling.
Every year we'd hear screams about raising the debt ceiling, but I doubt you'll hear it this year.
Hot Springs Village
Editorial on 10/08/2017
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