>Congressman Rush Holt will join federal Medicare officials to host two town hall forums in central New Jersey. Please join him to share your thoughts, ideas, and concerns about the future of Medicare.
Tuesday, May 17, 2011
Monroe Township Public Library
4 Municipal Plaza
Monroe Township, NJ 08831
Wednesday, May 18, 2011
East Brunswick Senior Center
2 Jean Walling Civic Center Drive
East Brunswick, NJ 08816
“Last month, the Republican majority in the U.S. House of Representatives passed, over my objections, a radical and far-reaching national budget for 2012. The proposed budget would end Medicare as we know it. Under this plan, if you are under 55 years of age, when you retire you would receive a voucher from the federal government and then fend for yourself on the private insurance market. The value of these vouchers is designed to shrink, relative to the cost of health care, each year – so seniors would be required to pay ever-growing out-of-pocket costs in order to maintain the same quality of health care.
Fortunately, the Senate has not voted on the Republican Medicare privatization plan, so there is still time to protect Medicare. I firmly believe that we need a national budget that strengthens our middle class, not weakens it, and I look forward to hearing your ideas at this week’s forum on how we can best achieve that goal. “
– Congressman Rush Holt
From Kevin Drum @ Mother Jones
Rep. Paul Ryan’s tax and spending “roadmap” is a fascinating critter: conservatives all praise it to the skies but none of them want to actually commit to supporting it. The reason for their hesitation is obvious: Ryan’s plan would cut spending dramatically, and supporting it would mean having to explain what, exactly, they’d cut. That would be electoral suicide and they know it. They much prefer their usual game of loudly denouncing “spending” without ever having to say what spending they’re actually opposed to.
However, their reason for supporting Ryan’s plan is also obvious: it would cut taxes on the rich dramatically, and there’s nothing conservatives like better than cutting the tax bills of America’s wealthy. But how much would it cut taxes on the rich? Citizens for Tax Justice has run the numbers and the answer is: a lot. The very richest of the rich would see their tax bills go down by an average of over $200,000, a whopping 15% of the income. Ka-ching! To make up for that, everyone with an income under $100,000 would have their taxes increased by about $2,000 per year.
It’s a sweet deal for the rich. But even with all the tax increases on the middle class, Ryan’s plan still raises less revenue than today’s tax code. “It’s difficult to design a tax plan that will lose $2 trillion over a decade even while requiring 90 percent of taxpayers to pay more,” says CTJ acerbically. “But Congressman Ryan has met that daunting challenge.” Details are in the table below, where you can find out how much more you’d have to pay under Ryan’s plan. Enjoy.