Young Oak Kim: “I hope all my California people right now are watching me an listening to me today, especially senior citizens, because…”

“I hope all my California people right now are watching me an listening to me today, especially senior citizens, because I would like to talk about Medicare. I am deeply concerned about all this rhetoric that is going on, frightening senior citizens by twisted information and disinformation. I would like to get the facts straight tonight. I was an engineer all my life. I have been dealing with the facts, numbers. I used to get straight A's in all the math and physics. Tonight I am going to talk about facts again and perhaps dealing with the simple numbers. All this rhetoric that is going on, saying that we give millions and millions of dollars tax credit to rich people at the expense of senior citizens by cutting Medicare spending. Let me get this straight. Give a tax credit to rich people? Let me get a little chart here. The tax cut we are talking about is $500 tax credit to the child support, $2,000 for child adoption. That is what we are talking about. The tax credit is coming from a non-Medicare spending cut, roughly $622 billion, the money is coming from this fund. Not the Medicare money, not the Medicare trust fund. By doing this, we can save $377 billion for deficit credit. By giving a tax credit to child support, we can stimulate the economy, thus create more jobs and more revenue to Government. Besides, Congress passed an amendment to the Medicare bill to prohibit transferring any money from Medicare to other funds.”