Will the Republican tax plan cut Social Security and Medicare?
Under president Bush, Republicans ran up a huge debt of 10 Trillion Dollars. Now, they want to balance the budget on the backs of the poor and middle class, by cutting food stamps, social security, medicare and medicaid while refusing to cut military spending. This chart shows where all of the money is going.
Are cuts to Medicaid and Medicare the GOP’s goal?
Feb 13, 2018 · "Tax legislation approved by the Congress and signed into law by President Trump on December 22, 2017, will leave Medicare, Medicaid and Social Security vulnerable to benefit cuts because of its ...
How much will the government cut from Social Security?
Mar 29, 2018 · After giving massive tax giveaways to wealthy & powerful shareholders, Republicans in Congress are plotting to take away Medicare, Medicaid and Social Security." 🚨 #TrumpTax was only the beginning.
Does Mitch McConnell want to cut Medicare and Social Security?
Jun 29, 2018 · Here’s what the GOP plan proposes to cut: $537 billion from Medicare; $4 billion from Social Security; $1.5 billion from Medicaid; $230 billion from education and training programs, including consolidating student loan programs and Pell Grant awards; In addition to these deep cuts, the bill would also add more work requirements for food-stamp and welfare …
Who is the House Democrat who criticizes the GOP budget?
Opposition from House Democrats has been swift and pointed. Top Budget Committee Democrat, Representative John Yarmuth of Kentucky, was quick to criticize the GOP plan: “The 2019 Republican budget scraps any sense of responsibility to the American people and any obligation to be honest. Its repeal of the Affordable Care Act and extreme cuts to health care, retirement security, anti-poverty programs, education, infrastructure, and other critical investments are real and will inflict serious harm on American families.”
How much does the US government spend?
The U.S. government spends more than it takes in, creating a deficit. Cutting this deficit has been a top priority for Republican lawmakers ever since Republicans took control of the House, Senate, and White House, but their attempts to do so have been unsuccessful. Current government spending is $4.407 trillion while its revenue is $3.422 trillion, leaving the U.S. with a growing deficit of $985 billion.
Who is Kayla Pearce?
Kayla Pearce is a Content Developer at Medicare World in Memphis, TN. She has backgrounds in professional and creative writing and over a decade of experience in research and editing. She is deeply interested in literature, poetry, cats, and dessert.
What percentage of the federal budget is Medicare?
The simple answer is Social Security and Medicare, which together make up 38 percent of the total federal budget, second only to military spending. The bottom line: the American people do not want us to pass tax breaks for billionaires today and they certainly don’t want us to cut Social Security, Medicare and Medicaid.
When will Social Security be exhausted?
Both Social Security and Medicare programs are on a fiscally unsustainable path— Medicare's hospital insurance trust fund will be exhausted by 2029, and Social Security's trust fund will be exhausted by 2034.
Does Rubio have a tax cut?
Update | Florida Senator Marco Rubio admits that the Republican tax cut plan, which benefits corporations and the wealthy, will require cuts to Social Security and Medicare to pay for it.
How much was the deficit in 2018?
Democrats have seized on recent comments by Senate Majority Leader Mitch McConnell (R-Ky.) in a round of media interviews after the Treasury Department reported that the federal budget deficit increased 17 percent year over year, to $779 billion in fiscal 2018.
What was the last time the unemployment rate was below 4 percent?
The last time the U.S. unemployment rate was below 4 percent— when the economy was booming under Bill Clinton and the government was running a budget surplus — Clinton was able to blunt Republican demands for a tax cut with the mantra of “Save Social Security First.”.
Is Whitehouse running for reelection?
Whitehouse is running for reelection in what appears to be an easy race — the latest poll has him up by 24 percentage points — but that has not stopped him from running hard-hitting commercials.
Who is the second ranking senator in the Senate?
Sen. John Thune (R-SD), the second-ranking Senate Republican, expressed hope to the New York Times that Trump would be “interested” in reforming Social Security and Medicare. Sen. John Barrasso (R-WY) was even more optimistic. “We’ve brought it up with President Trump, who has talked about it being a second-term project,” Barrasso said.
Who is Larry Kudlow?
Trump’s top economic adviser Larry Kudlow, a veteran of the Reagan administration, has made this argument himself. He explicitly invoked “starve the beast” in a 1996 Wall Street Journal op ed: "Tax cuts impose a restraint on the size of government. Tax cuts will starve the beast….
Is Social Security important to retirement?
As Social Security expert Nancy Altman recently testified, Social Security is essential to the American retirement system. It is the base on which we all secure our retirement incomes. As Altman pointed out, “Social Security made independent retirement a reality.
How much is Medicare cut?
But $269 billion of that figure is reclassified under the Department of Health and Human Services, bringing the Medicare cuts to $575 billion. As Vox explained, the administration says it will achieve these cost reductions by targeting wasteful spending and provider payments and lowering prescription drug costs.
Will Trump cut Medicare?
President Donald Trump’s 2020 budget breaks one of his biggest campaign promises to voters: that he would leave Medicaid, Social Security, and Medicare untouched. “I’m not going to cut Social Security like every other Republican and I’m not going to cut Medicare or Medicaid,” Trump told the Daily Signal, a conservative publication affiliated ...