Patrick Moynihan: “I repeat, sir, that the 1993 measure was part of a long-range effort…”

On the recordJuly 13, 2000

I repeat, sir, that the 1993 measure was part of a long-range effort to restore actuarial balance to the Social Security and Medicare systems. It treats Social Security income, retirement income, as all other retirement income is treated. That part for which taxes have been paid is exempted. The rest is taxed normally for others. Low-income beneficiaries of Social Security would pay no tax. This money goes into the Medicare trust fund and is part of the long-term solvency we seek. I thank the Chair.

Said by

Patrick Moynihan

Illinois

Source

govinfo.gov

Editor's note · Context

Discussing the 1993 measure related to Social Security and Medicare during a floor speech.

Share on X Share on Facebook Email this quote

More from Patrick Moynihan

Oct 23, 2000

I wonder if I might ask our distinguished leader, he mentioned the Executive Calendar. The Finance Committee has held hearings on six nominees, two tax court judges of some considerable salience, two public trustees of the Social Security…

govinfo.gov

Oct 2, 2000

When I arrived at the Senate near 25 years ago, it was very clear to me that I would look to Robert C. Byrd as my mentor; and he has been. I have sat at the foot of this Gamaliel for a quarter century. As I leave, sir, he is my mentor…

govinfo.gov

Dec 6, 2016

When a security official--officials--tell you something is classified, don't believe them.

congress.gov

Dec 6, 2016

If the present report is to serve any large purpose, it is to introduce the public to the thought that secrecy is a mode of regulation. In truth, it is the ultimate mode for the citizen does not even know that he or she is being regulated.

congress.gov

View all Patrick Moynihan quotes

Other voices in this conversation

Patrick Moynihan: “I repeat, sir, that the 1993 measure was part of a long-range effort to restore actuarial balance to the Social Security…”

Editor's note · Context