Minority Leader Turtle suggests Medicare, Social Security cuts to Preserve Tax Breaks for Billionaires

Politics • December 2012 • Views: 1,297

The Senate’s top Republican suggested specific cuts to popular safety-net entitlement programs – Medicare and Social Security – as the kind of proposals his party wants on the table in talks with the White House over the year-end budget crisis.

Negotiations have hit a stalemate, but Sen. Mitch McConnell of Kentucky, the minority leader, provided the first GOP counter-offer to President Obama’s push for higher taxes on the wealthy. McConnell said his party would like to increase the Medicare eligibility age and ask wealthier Americans to pay higher Medicare premiums. He also suggested paring back the cost-of-living increases given to Social Security beneficiaries, a nonstarter for many Democrats.

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9 comments

sauceruney Sat, Dec 1, 2012 5:19:11pm

We should all work harder so they don't have to. Right.

Skip Intro Sat, Dec 1, 2012 5:25:28pm

re: #1 sauceruney

We should all work harder so they don't have to. Right.

I have a modest proposal for the Congress that would jump-start some spending cuts:

1) Cut all congressional and staff salaries 30%.
2) Eliminate all pensions for new members elected after 2014.
3) Free the Congress from the bonds of their health care plan, and let them experience the wonderful free market of health insurers, on their dime, of course.
4) Tax all campaign contributions as ordinary income.

jaunte Sat, Dec 1, 2012 5:25:36pm

Mitch McConnell, one of the wealthiest men in the Senate, is purported to represent Kentucky, where almost 17% of the population are poor.

Sen. Mitch McConnell: The tax code favors the poor and hurts the rich

nines09 Sat, Dec 1, 2012 6:35:05pm

Mitch is one arrogant asshole, isn't he? Would I be out of line hoping he falls down a flight of stairs? Twice?

Jaerik Sat, Dec 1, 2012 6:59:54pm

I'm pretty sure Obamacare already revoked the posh health insurance plan for Congress and their staff, and mandated they have to get it through the new exchanges like the rest of us:

SEC. 1312 [42 U.S.C. 18032]. CONSUMER CHOICE.

(D) MEMBERS OF CONGRESS IN THE EXCHANGE.— (i) REQUIREMENT.—Notwithstanding any other provision of law, after the effective date of this sub- title, the only health plans that the Federal Government may make available to Members of Congress and congressional staff with respect to their service as a Member of Congress or congressional staff shall be health plans that are—

(I) created under this Act (or an amendment made by this Act); or

(II) offered through an Exchange established under this Act (or an amendment made by this Act).

(ii) DEFINITIONS.—In this section:

(I) MEMBER OF CONGRESS.—The term ‘‘Member of Congress’’ means any member of the House of Representatives or the Senate.

(II) CONGRESSIONAL STAFF.—The term ‘‘congressional staff’’ means all full-time and part-time employees employed by the official office of a Member of Congress, whether in Washington, DC or outside of Washington, DC.

lostlakehiker Sat, Dec 1, 2012 8:05:27pm

A 100 Percent tax on all incomes over 1000000 would not begin to close the deficit. No feasible tax increase, even scooping deep into the ranks of the middle class, could do that. Spending cuts simply must be part of the equation.

I know, I know, tax all income at 35 percent, no deductions, and the deficit goes away. But that is not feasible because the economy would contract sharply.

lostlakehiker Sat, Dec 1, 2012 8:13:01pm

re: #3 jaunte

Mitch McConnell, one of the wealthiest men in the Senate, is purported to represent Kentucky, where almost 17% of the population are poor.

Sen. Mitch McConnell: The tax code favors the poor and hurts the rich

It favors the poor, as well it should. It lands more heavily on the rich. But there must be tax revenue. Taxation is not harm when the money is well spent doing things even the rich cannot do with their own private funds.

But speaking of rich senators, was not Jon Corzine a senator, and a billionaire? With very sketchy business methods?

Varek Raith Sun, Dec 2, 2012 12:07:33am

re: #6 lostlakehiker

A 100 Percent tax on all incomes over 1000000 would not begin to close the deficit. No feasible tax increase, even scooping deep into the ranks of the middle class, could do that. Spending cuts simply must be part of the equation.

I know, I know, tax all income at 35 percent, no deductions, and the deficit goes away. But that is not feasible because the economy would contract sharply.

Except history has shown that to not be the case.

Fred72 Sun, Dec 2, 2012 12:18:56am

re: #6 lostlakehiker