Saving Something By Destroying It
By Hey, I see that that guy Joe from Scranton got a guest essay in the New York Times Tuesday, and nobody seems to have noticed.
It’s early days yet in the budget fight – the budget was released this morning – but Joe’s getting out ahead of the pack. Once again, as he did to the Russians last February, Joe is setting the narrative.
The budget I am releasing this week will make the Medicare trust fund solvent beyond 2050 without cutting a penny in benefits. In fact, we can get better value, making sure Americans receive better care for the money they pay into Medicare.
Also,
let’s ask the wealthiest to pay just a little bit more of their fair share, to strengthen Medicare for everyone over the long term. My budget proposes to increase the Medicare tax rate on earned and unearned income above $400,000 to 5 percent from 3.8 percent. As I proposed in the past, my budget will also ensure that the tax that supports Medicare can’t be avoided altogether.
MAGA Republicans have a different view. They want to repeal the Inflation Reduction Act. That means they want to take away the power we just gave to Medicare to negotiate for lower prescription drug prices. Get rid of the $35 per month cap for insulin we just got for people on Medicare. And remove the current $2,000 total annual cap for seniors.
At the State of the Union presentation, the Republicans nicely put themselves in a box, with Joe’s help, of agreeing not to cut Medicare or Social Security. And, their fealty to their plutocrat betters means no new taxes. So of course tanking the world economy is on their table.