The Tax Bill's Effect on Medicare and Medicaid
The AARP says the Tax Bill jeopardizes Medicare and Medicaid.
In addition to spending cuts, there are these problems:
- The cuts for individuals are temporary
- The cuts for corporations are permanent
- By changing the way the inflation index works, people may reach higher income brackets sooner than before, and the the increase in the standard deduction will slow over time, according to the Tax Policy Center.
- The bill "limits the state and local tax deduction -- which could hurt those in high-tax states like New York, New Jersey and California."
Also, the AARP says, because there's no longer a penalty for not getting health insurance, more people will be uninsured which will raise insurance premiums for the rest of us.
As to future cuts: bq. "The large increase in the deficit will inevitably lead to calls for greater spending cuts, which are likely to include dramatic cuts to Medicare, Medicaid, and other important programs serving older Americans," it said. [More...]
| < Tuesday Open Thread | CNN Hires Joan Walsh > |