On the recordOctober 12, 1995
the part A in Medicare is going to be bankrupted which has been financed by FICA payroll taxes. That is not enough. Beneficiary pay half, employer contribute the other half. That is not enough. What we trying to do is trying to fix the bankruptcy part A program without raising taxes of those younger people. Let us take a look at the part B. This is financed by one-third by beneficiary, two-thirds by the other taxpayers. Used to be half and half. If we do nothing, it is going to end up 10 percent paid by beneficiary, 90 percent by the other taxpayers, which is not fair. All we are trying to do is maintain the ratio, one-third as is now by beneficiary, and two-third by the other taxpayers. How could my colleagues call that a cut? Is it really cut? We are trying to fix part A and part B from bankruptcy without cutting it. I am tired of this rhetoric.
Source
govinfo.gov
