At this writing, I am five years and nine days away from retirement. I mention this because I’m concerned that the recently approved federal tax reform plan will eventually use my hard-earned Social Security and Medicare earnings (That’s right, earnings!) to help pay for the tax cuts to corporations, millionaires, and billionaires.
My response to such a monstrous move cannot be printed in a family publication.
Although there are ongoing threats to my pension, this post focuses on the danger facing Social Security and Medicare. The $1.5 trillion tax bill approved by Congress provides a tax cut to working families that expires after 2025. Corporations win a permanent tax cut from 35 percent to 21 percent.
Because the tax bill will increase the national debt by $1.5 trillion over 10 years, something must be done to address the shortfall. Senator Marco Rubio (R-Florida) proposed two things: "We have to generate economic growth which generates revenue, while reducing spending. That will mean instituting structural changes to Social Security and Medicare for the future."
So, I'm inferring that cuts in both programs go toward paying down the deficit from (partially) tax cuts to corporations and rich people.
Again, my response cannot be printed in a family publication.
I have worked for 35 years for the private then public sectors, enduring incompetent and bullying bosses along the way. I have a little more than five years from the finish line. I want my prize: low-cost health care and my retirement funds, which include my full Social Security allocation.
Because of this Trojan horse of a law, I will work in 2018 to get people elected who oppose this legislative mess. Why? As a famous comedian said as a tag line for a commercial for a defunct investment company, "It's my money!"