Carolyn Maloney: “I respectfully suggest a small correction to the Republicans' statement that their position on the deficit negotiations…”

“I respectfully suggest a small correction to the Republicans' statement that their position on the deficit negotiations is no new taxes. It would be far more accurate for them to state their position is no new taxes except for seniors, because sharp increases to participate in the costs of Medicare and Medicaid or decreases in the benefits of Social Security would act just like a tax on income targeted right at the elderly. The Republican proposal for Medicare would hit retired seniors immediately by reopening the doughnut hole. And according to a report from the Joint Economic Committee, for my home State of New York it would cost future retirees an additional $6,500 out of pocket. You can call that some sort of adjustment if you like, but I call it a tax, and I call it wrong. Grover Norquist agrees. He says changes to the CPI is a stealth tax increase: wrong for our seniors, wrong for the economy, and wrong for the country. ____________________”