The House budget — which Trump wants passed this week — will be the largest transfer of wealth from the bottom 95% to the top .1% in the history of our nation. The numbers are so staggering as to be absurd. It’s hard to get your head around.
According to the Penn Wharton Budget Model, if you’re in the bottom 20% of earners in America, you’ll lose around $1,000 next year. If you’re in the top 10%, you’ll receive nearly two-thirds of the total benefit of this bill. By some estimates, those in the top one-tenth of 1% will gain nearly $390,000 next year, mostly due to tax cuts.
In other words: The richer you are, the richer you will become.
But there’s another problem here that will almost immediately become life or death for millions of us: to give those few thousand folks at the top their $400k annual bonus, they have to take away Medicaid from folks who need it. And folks who need Medicaid, well, they NEED Medicaid (unlike the billionaires, who do not need an extra $400,000). It’s health care for millions of working people and nursing home care for seniors.
This isn’t some kind of lecture about income disparity on a college campus. This budget will wreak havoc on our communities, be they red or blue.
To break this down, we invited Mario Nicolais to join the guys for this week’s Strategy Session. He’s a lawyer with a degree in Health Administration who knows what’s really happening here. We knew this would be an important conversation, so we dropped the paywall.
It’s something we might do from time to time. Lincoln Square survives on your subscriptions, but we hope to earn those subs by giving you thoughtful, engrossing content like this that actually matters.
We’re all in this together.
Oh, hey! Have a question you want answered next time? Post it in the chat!
Thank you
, , , , , and many others, for tuning into this special edition of The Strategy Session! If you found the discussion useful, why not share it with your friends?And speaking of Mario … he’s graciously written a piece that goes beyond the numbers and explains what the Medicaid cuts in the budget mean for millions of us and our families.
And this is just what we know so far. As Rick, Joe and Mario discussed on Strategy Session, there’s so much evil that’s packed into this bill that won’t come to light until after the votes are taken.
The GOP Medicaid Massacre Will Destroy American Lives
The Medicaid Massacre by the House GOP will fittingly take place in the middle of the night. The cowards stripping healthcare from millions of Americans want to slink away into the shadows after screwing all but the richest people across the country.
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