Eleanor Holmes Norton: “I do want to point out, when you talk about the transfer of the expense, the cost of Medicare to seniors themselves--the…”

“I do want to point out, when you talk about the transfer of the expense, the cost of Medicare to seniors themselves--the costs we know they can't possibly bear--notice that hopes went up when Mitt Romney said, during the campaign, that we should reduce the loopholes. Well, note what Mr. Ryan does: he reduces the loopholes in order to give rich folks a further tax reduction. So, where does the money go? The top rate now is 39.6 percent. Well, he wants to bring that top rate down to 25 percent. So he wants to close the loopholes all right--I'm not sure which ones he has in mind-- but that savings would go back into the same 1 percent sector that already has gotten all the benefit from tax cuts until what we finally did in January, when others got some relief as well.”