Political Quotes

On the recordMay 11, 1995
the Republicans are solving something that has bothered all the people, but I do not think they are doing it the right way. Older people have complained to me; I am not talking about the wealthy older people who will be the beneficiaries of the Republican tax cuts but the average older person for whom Social Security is a major part of their income. And they have complained that, as the Social Security cost of living has gone up, Medicare has come and taken it away. And they have been virtually equal in many cases. Well, no longer under the Republican budget plan will the cost-of-living increase that older people get be equal to the increase they have to pay in Medicare. But the Republicans are solving this in the wrong way. Older people are going to have to pay more for their Medicare, and under the Republican plan they will get less for their Social Security. So every year older people will see under the plan an erosion in their incomes because the Republicans will reduce the cost of living. They want to cut taxes for wealthy older people who will be making $150,000 or $200,000 a year, but they will cut the cost of living for an older person living on $9,000 or $10,000. That is the wrong way to go.
Said by
Barney Frank
Democratic · Massachusetts

Editor's note · Context

Discussing the impact of the Republican budget plan on older Americans and Social Security.

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