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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Stay tuned. Overspending by the GOP will trigger automatic cuts in Medicare. [/quote]
Government has been overspending for over a century. 
Government will continue to overspend until it all crashes. Fiat currency be like it be. [/quote]

Government hasn’t been overspending. It has been under taxing the rich. [/quote]

The top 1% of earners paid 46% of federal income taxes in 2021, despite earning 15% of total income, according to the National Taxpayers Union.

The top 10% paid 75%, while the bottom 50% paid 2%.

The Joint Committee on Taxation confirms millionaires pay an average effective tax rate 3.5 times higher than most Americans.

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What about billionaires with their fancy ways of extracting funds from their investments? It's not income so it's not taxed. They need to pay.[/quote]

If we took all the billionaires’ money and funneled it towards Medicaid and Medicare, how long do you think it would last?
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The top 5 percent of earners currently pay on average a 23 percent tax rate. If that was raised (through increases on various forms of income) to an average of 25 percent, the amount they would contribute would go from $1.3 trillion to $1.4 trillion a year, or about $100 billion a year. An average 2 percent tax increase. Its not going to save Medicaid and Medicare but its about how much they are planning to cut per year through the OBBB. [/quote]

I get what you’re saying but I don’t think that can even touch the problem. If the full $100 billion went towards Medicaid alone- and no where else - it won’t make a dent. Medicaid alone cost over $870 billion in 2023. Medicare cost $848 billion in 2023. Upping the tax rate on billionaires, while arbitrary, doesn’t cause me much heartburn. However, it won’t make any difference and we still have the same problem.[/quote]

Well CUTTING the taxes on the rich doesn't help, and definitely hurts. And that's what Congress did. And republican member after member went on TV, went to town halls, went on record saying nothing would be cut except waste, fraud, and abuse. I didn't hear any of the ones that voted for it say that states would have to raise state income taxes to make up for less federal spending, that there might have to be cuts to other state spending to backfill Medicaid, that optional services and populations (like 18-21 year olds, or physical therapy and eyeglasses) might have to be cut, or that Medicaid providers would have to be paid less across the board. 
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