House Minority Leader Nancy Pelosi of California said in a statement, “Under the GOP’s twisted agenda, we can afford tax cuts for billionaires, but not the benefits our seniors have earned.”
This article was provided by Bloomberg News.
McConnell Blames Entitlements, Not GOP, For Rising Deficits
October 16, 2018
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The tax cuts had a lot to do with the deficit but we also need to ensure that social insurance programs are maintained because so many depend on them. There would be so many more poor and sick Americans without social security and Medicare. The 2.9% Medicare tax needs to be increased over time and more of social security income needs to be taxed for those who can afford it. Currently, a social security recipient can receive 15% of social security income tax free. Make it 100% so the program can be supported among other solutions. Statistics show that the majority of recipients receive a lot more than they contributed. Just live long enough. We are among the lowest taxed in the OECD nations. Rescind the corporate tax cut and make it 28% instead of 21%.