Hold on to every penny you are in the bottom 80%, particularly if you have or are planning to retire in the future.
But if you are in the top 20%, relax, life is good.
Mitch McConnell Calls for Social Security, Medicare, Medicaid Cuts After Passing Tax Cuts, Massive Defense Spending
After instituting a $1.5 trillion tax cut and signing off on a $675 billion budget for the Department of Defense, Senate Majority Leader Mitch McConnell said Tuesday that the only way to lower the record-high federal deficit would be to cut entitlement programs like Medicare, Medicaid and Social Security.
"It’s disappointing, but it’s not a Republican problem," McConnell said of the deficit, which grew 17 percent to $779 billion in fiscal year 2018. McConnell explained to Bloomberg that "it’s a bipartisan problem: Unwillingness to address the real drivers of the debt by doing anything to adjust those programs to the demographics of America in the future." The deficit has increased 77 percent since McConnell became majority leader in 2015.
New Treasury Department analysis on Monday revealed that corporate tax cuts had a significant impact on the deficit this year. Federal revenue rose by 0.04 percent in 2018, a nearly 100 percent decrease last year’s 1.5 percent. In fiscal year 2018, tax receipts on corporate income fell to $205 billion from $297 billion in 2017.
Mitch McConnell says deficit ballooned because of Social Security, Medicare, not Republican Tax Cuts
And look at the distribution of the tax cuts, through 2015.
So, if you are in the 80% and in the retirement mode now or down the road, more than likely cuts to Social Security and Medicare are really going to hurt you.
Now consider this, how many Trumpsters and supporters of his fascist party are going to get in the butt?
But have no fear, they don't care if they are getting fucked, Trump and the Fascist Party are like Gods of the World. After all, they are top ending the uber-wealthy, to "make America great again".
But if you are in the top 20%, relax, life is good.
Mitch McConnell Calls for Social Security, Medicare, Medicaid Cuts After Passing Tax Cuts, Massive Defense Spending
After instituting a $1.5 trillion tax cut and signing off on a $675 billion budget for the Department of Defense, Senate Majority Leader Mitch McConnell said Tuesday that the only way to lower the record-high federal deficit would be to cut entitlement programs like Medicare, Medicaid and Social Security.
"It’s disappointing, but it’s not a Republican problem," McConnell said of the deficit, which grew 17 percent to $779 billion in fiscal year 2018. McConnell explained to Bloomberg that "it’s a bipartisan problem: Unwillingness to address the real drivers of the debt by doing anything to adjust those programs to the demographics of America in the future." The deficit has increased 77 percent since McConnell became majority leader in 2015.
New Treasury Department analysis on Monday revealed that corporate tax cuts had a significant impact on the deficit this year. Federal revenue rose by 0.04 percent in 2018, a nearly 100 percent decrease last year’s 1.5 percent. In fiscal year 2018, tax receipts on corporate income fell to $205 billion from $297 billion in 2017.
Mitch McConnell says deficit ballooned because of Social Security, Medicare, not Republican Tax Cuts
And look at the distribution of the tax cuts, through 2015.
So, if you are in the 80% and in the retirement mode now or down the road, more than likely cuts to Social Security and Medicare are really going to hurt you.
Now consider this, how many Trumpsters and supporters of his fascist party are going to get in the butt?
But have no fear, they don't care if they are getting fucked, Trump and the Fascist Party are like Gods of the World. After all, they are top ending the uber-wealthy, to "make America great again".
