Posts Tagged ‘Medicare’

Despite such terminology as “fiscal cliff” and “debt ceiling,” the great debate taking place in Washington now has relatively little to do with financial issues. It’s all about economic winners and losers in American society, about Wall Street and Big Money, and how they’ve gotten control of both political parties. Senator Bernie Sanders says “It is all about the soul of America.”

In the following article by Senator Sanders, he doesn’t mention corruption, he simply implies it. Big Oil, Big Money, these are the phrases he uses. But Big Oil and Big Money have to have bought something with their money. They’ve purchased politicians, with political contributions, with personal favors, such as lobbying jobs after they’re finished raping and pillaging the middle class on behalf of Wall Street. You know who I’m talking about: Ron Wyden, Orrin Hatch, John Boehner, Barack Obama, and so many others. Corruption is rampant in the US government.

The Senator writes, “In America today, we have the most unequal distribution of wealth and income of any major country on earth, and more inequality than at any time period since 1928. The top 1 percent owns 42 percent of the financial wealth of the nation, while, incredibly, the bottom 60 percent own only 2.3 percent. One family, the Walton family of Wal-Mart, owns more wealth than the bottom 40 percent of Americans. In terms of income distribution in 2010, the last study done on this issue, the top 1 percent earned 93 percent of all new income while the bottom 99 percent shared the remaining 7 percent.

Despite the reality that the rich are becoming much richer while the middle class collapses and the number of Americans living in poverty is at an all-time high, the Republicans and their billionaire backers want more, more, and more. The class warfare continues.

My Republican colleagues say that the deficits are a spending problem, not a revenue problem. What these deficit-hawk hypocrites won’t talk about is their spending. They won’t discuss what they did to dig the country into this $1 trillion deep deficit hole. They waged wars in Afghanistan and Iraq without paying for them. They gave away huge tax breaks for the rich. They squandered taxpayer dollars on the pharmaceutical industry by making it illegal for Medicare to bargain for lower drug prices. They also rescinded financial regulations that enabled Wall Street to operate like a gambling casino, leading to a severe recession that eroded tax revenue and left more than 14 percent of American workers unemployed or underemployed.

Now, despite the deficits their policies helped to create and despite the enormous suffering which exists in our society, the Republicans want to cut Social Security, veterans’ programs, Medicare, Medicaid, education, nutrition programs, and virtually every program which benefits low- and moderate-income Americans. They choose to turn their backs on the economic reality facing a significant part of our population: high unemployment, reduced wages, 50 million without health insurance, college graduates saddled with enormous student debt and elderly people living in desperation. And they have tried to slam the door on any further discussion about how to raise revenue by ending tax loopholes and unfair tax breaks.

Republicans like Senate Minority Leader Mitch McConnell who say the revenue debate is over don’t want you to consider these facts:

• Federal revenue today, at 15.8 percent of GDP, is lower today than it was 60 years ago. During the last year of the Clinton administration, when we had a significant federal surplus, federal revenue was 20.6 percent of GDP.

• Today corporate profits are at an all-time high, while corporate income tax revenue as a percentage of GDP is near a record low.

• In 2011, corporate revenue as a percentage of GDP was just 1.2 percent — lower than any other major country in the Organization for Economic Cooperation and Development, including Britain, Germany, France, Japan, Canada, Norway, Australia, South Korea, Switzerland, Norway, Italy, Ireland, Poland, and Iceland.

• In 2011, corporations paid just 12 percent of their profits in taxes, the lowest since 1972.

• In 2005, one out of four large corporations paid no income taxes at all while they collected $1.1 trillion in revenue over that one-year period.

We know where the Republicans are coming from. What about the Democrats? Will President Obama fulfill his campaign pledge to “protect the middle class” or will he surrender to right-wing blackmail? Will Democrats in the House and Senate stand with the vast majority of our citizens and such organizations as AARP, the National Committee to Preserve Social Security and Medicare, the AFL-CIO, the American Legion, the Veterans of Foreign Wars and every other veterans’ organization in the fight against cuts to Social Security and veterans’ programs, or will they agree to a disastrous corporate-backed “chained CPI” concept which makes major benefit cuts to those programs and raises taxes on low-income workers?

The simple truth is there are relatively easy ways to deal with the deficit crisis — without attacking the elderly, the children the sick or the poor.

For example, we have got to eliminate loopholes in the tax code that allow large corporations and the wealthy to avoid more than $100 billion in taxes every year by setting up offshore tax shelters in places like the Cayman Islands, Bermuda and the Bahamas. This situation has become so absurd that one five-story office building in the Cayman Islands is now the “home” to more than 18,000 corporations.

Further, we must also end tax breaks for companies shipping American jobs overseas. Today, the United State government continues to reward companies that move American manufacturing jobs abroad, despite the fact that millions of American jobs have been outsourced to China, Mexico, and other low wage countries over the past decade. The Joint Committee on Taxation (the official revenue scorekeeper in Congress) has estimated that we could raise more than $582 billion in revenue over the next decade by eliminating these offshore tax loopholes.

We must also recognize that Wall Street recklessness caused the economic crisis, and it has a responsibility to reduce the deficit. Establishing a 0.03 percent Wall Street speculation fee, similar to what we had from 1914-1966, would dampen the dangerous level of speculation and gambling on Wall Street, encourage the financial sector to invest in the productive economy and reduce the deficit by more than $350 billion over 10 years.

We are entering a pivotal moment in the modern history of our country. Do the elected officials in Washington stand with ordinary Americans — working families, children, the elderly, the poor — or will the extraordinary power of billionaire campaign contributors and Big Money prevail? The American people, by the millions, must send Congress the answer to that question.”

Read Full Post »

As of March 4 2013, Wall Street President Barack Hussein Obama was talking to Republicans about cutting Social Security payments to your grandparents in order to preserve Big Oil‘s $52 billion annual federal entitlement program, and also of finding ways of making the affluent richer by pretending to do things he has no intention of doing. He’s also negotiating to reduce Medicare.

As the president knows, the Social Security Trust Fund has a surplus of $2.7 trillion that collects $120 billion a year in interest. Obviously, this program doesn’t contribute to the deficit at all. So why is Wall Street’s current president negotiating to cut what minimal payments the elderly receive from the program that they paid into?

Supposedly, the president is also negotiating raising taxes on the already rich, the top five percent, but like a good Wall Street Republican in disguise, which is the same as saying he’s a corporate Democrat, the president will most likely either cave in to Republican demands for no tax increases on the rich, or perhaps he will negotiate to ensure that enough tax loopholes exist in any agreement, that the rich pay no more in taxes that they do now, or more than likely, they’ll pay less. It’ll be good theater, no doubt.

Obama supports the Bowles-Simpson proposal as a means to reduce the deficit. Erskine Bowles is a member of the Board of Directors of Wall Street investment bank Morgan Stanley. Simpson is a former GOP senator from Wyoming and a big time supporter of Wall Street. That tells you all you need to know.

In other words, the president may be looking to redistribute income from your grandparents on their fixed incomes to the top 1 percent as a way of cutting the federal deficit. By the way, Republicans like this income redistribution scam since they play this game all the time.

Read Full Post »

Paul Ryan Care

Read Full Post »

US Senator Jeff Merkley is making a lot of sense. Get out of the war in Afganistan, and use the money saved from the war to save social security.

“If the United States can afford to build 26 hospitals in Iraq,” US citizen Verde Frazier asked Sen. Jeff Merkley, “why are senior citizens in the United States threatened with cuts to the Medicare program?”

That was one of several questions fielded Tuesday morning by the fourth-year senator from Portland, Oregon during a town hall meeting at Sweet Home High School. More than 75 people attended, including several dozen students.

Merkley could’ve told the truth about how US contractors are making a ton of money building those hospitals in Iraq, but he didn’t. That’s okay. His actions speak louder than his words, but his words were fairly loud.

“We must cut overseas spending and that includes retiring our involvement in Afghanistan,” Merkley said. “We are spending $120 billion per year in Afghanistan and it’s not enhancing our national security. We must do more nation building at home.”

Click the link below for the complete story.


Read Full Post »

Read Full Post »

This picture says it all. The Romney/Ryan, Ron Wyden economic plan is simple. Dump and kill the senior citizens of the USA and take their government insurance and dump it into the fat wallets of the already rich. In other words, it’s all about redistributing income from the old and infirmed to the already rich

Read Full Post »

“The Romney-Ryan position on health care is that many millions of Americans must be denied health insurance, and millions more deprived of the security Medicare now provides, in order to save money. At the same time, of course, Mr. Romney and Mr. Ryan are proposing trillions of dollars in tax cuts for the wealthy. So a literal description of their plan is that they want to expose many Americans to financial insecurity, and let some of them die, so that a handful of already wealthy people can have a higher after-tax income.” Paul Krugman

Wall Street Senator Ron Wyden supports the Romney/Ryan plan. He’s an alledged democrat, but that’s a lie. Wyden is a corrupt, corporate plutocrat who is willing to cut back on medicaid and medicare in order to give the already super rich tax cuts they don’t need. That’s because tax cuts for the 1 percent that result in death for members of the 99 percent is an income and life redistribution scam that Ryden supports.

Click the link below for the full story.

Death by Ideology–New York Times

Read Full Post »

« Newer Posts - Older Posts »

%d bloggers like this: