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From the category archives: Max Richtman

Hollow Victory for Trump & GOP is a Loss for Seniors, Working Americans

National Committee President and CEO Max Richtman issued the following statement after passage of the Trump/GOP tax plan::::


“Congressional Republicans have just pulled off the biggest heist in American history – transferring trillions of dollars of wealth to the rich and profitable corporations at the expense of working and middle class Americans.  By ramming this ill-considered legislation through Congress in a reckless manner, GOP members of Congress put partisanship over people and donors over constituents.  Last-minute revisions designed to woo holdout Senators – including a change benefitting real estate moguls like President Trump – tilted the bill even further toward wealthy elites.  

It is wrong to ask the poor, the working class, and elderly to pay for tax breaks for the rich and powerful, which is exactly what the Trump/GOP tax bill will do.  The tax cuts will explode the federal debt by at least $1.5 trillion, laying the groundwork for an all-out effort to cut Social Security, Medicare, and Medicaid.  House Speaker Paul Ryan and Florida Senator Marco Rubio have already promised as much in recent public statements.  Blowing up the debt for tax cuts, then claiming that there’s no choice but to cut benefits for seniors is the height of hypocrisy. As proof of Republicans’ intent, the 2018 GOP budget resolution slashes nearly $500 billion from Medicare and more than $1 trillion from Medicaid. 

The bill’s repeal of the Obamacare individual mandate will result in 13 million Americans losing coverage, and an average $1,500 hike in health insurance premiums for older adults aged 50-64.  Adopting the miserly “Chained CPI” inflation index for calculating tax brackets and deductions could easily creep into the formula for determining Social Security cost-of-living adjustments (COLAs), which would cost retirees thousands of dollars in the long run.  Unfortunately, the pleas of advocates and everyday Americans demanding that Congress abandon this cynical legislation has fallen on deaf ears. But it’s a hollow victory for the GOP. While the perpetrators of the tax scam may be popping the champagne today, next November they surely will see that voters have declared the party’s over.” 

National Committee President, House Dems Decry GOP Tax Plan’s "Dire" Impact on Seniors

As Republicans remain indifferent – or in denial – about the impact of the Trump/GOP tax scam on older Americans, seniors’ defenders are sounding the alarm.  National Committee president and CEO Max Richtman joined House Minority Leader Nancy Pelosi and other Democratic representatives in front of the U.S. Capitol today to warn of the dangers the tax plan poses to seniors’ retirement and health security. Richtman called the tax bill a “con game that should be called the ‘Washington two-step.’”

“Step one is cutting taxes for top-earning households and profitable corporations. Step two:  use the higher deficits the tax bill will create to cut critical programs, like Medicare, Medicaid and Social Security.” – Max Richtman, NCPSSM president and CEO, 12/6/17

Senator Marco Rubio (R-FL) let the cat out of the bag when he acknowledged that Republicans will come after seniors’ earned benefit programs as soon as the tax cut passes.  In fact, the tax bill will trigger an immediate $25 billion cut to Medicare unless Congress quickly waives the PAYGO provision of federal budget law. (Both Medicare and Medicaid – which helps seniors afford long-term care – are targeted for deep cuts in the GOP budget plan.) The tax scam also hurts older Americans by zeroing out the Obamacare coverage mandate penalty (which could result in higher premiums for 50-64 year-olds).  It also imposes the paltry “Chained CPI” as an inflation index for taxes, which could later bleed over into Social Security cost-of-living adjustments and shrink badly needed increases in retirees’ checks. 

Speaking on this chilly December afternoon in the nation’s capital, Leader Pelosi said, “It’s a cold day for seniors because of this GOP tax scam. It is an assault on the older Americans who built this country.  Seniors are among the biggest losers in this legislation.”

Congresswoman Jan Schakowsky (D-IL) called the tax bill “the first step in the Republican plan to undermine the financial and health security of older Americans.”

Rep. Doris Matsui (D-CA) observed that the threat to seniors from the GOP tax legislation “keeps getting worse and worse” and said the bill would have “cruel and dire” consequences.  She slammed the House bill’s repeal of the medical expense deduction, which millions of seniors use to mitigate high out-of-pocket medical and long-term care costs.

Republican members of a House-Senate conference committee are currently meeting behind closed doors to work out the differences between each chamber’s version of the tax bill.  Leadership hopes to pass a final bill and send it to President Trump for signature before Christmas – perhaps the worst holiday gift Congress could possibly give to the American people.  Seniors and their advocates are right to be concerned about this legislation, which is deeply unpopular with the public (only 29% of Americans support it in the most recent polling).  But after years of dreaming about slashing Social Security, Medicare, and Medicaid, Republicans are now in a position to carry out their craven plans - without apparent regard for public opinion, fairness, or decency. 

Outrage Crucial as Trump-GOP Tax Scam Gets Dangerously Close to Passing the Senate

When President Trump and Congressional Republicans tried to repeal Obamacare earlier this year, the gross unfairness of taking healthcare away from 20-30 million Americans sparked outrage across the country.  Members of Congress got an angry earful from constituents every time they went back home.  Speaker Paul Ryan’s office got so many calls they had to shut the phone lines down.  Despite multiple attempts to kill the Affordable Care Act, Republicans repeatedly failed under a crush of public pressure.  Senators of conscience, including Sens. McCain, Murkowski, and Collins put principle over party and stood in opposition when it counted.  That is precisely the kind of outrage we need right now as the Trump/GOP tax scam rolls toward passage.

In the face of overwhelming evidence that the Republican plan is a shamelessly giveaway to the wealthy and big corporations, the public must continue to apply as much pressure as possible on elected representatives. (The Senate GOP bill even includes a provision repealing Obamacare’s mandate, and the opposition must rise with equal fervor.)  National Committee president Max Richtman sent a letter to the Senate yesterday urging that the bill be defeated.

Now is the time to seize on the opportunity to stop the Trump/GOP tax juggernaut before it wreaks permanent havoc on the lives of the poor, the sick, the working class, and the elderly. Yesterday the Senate Finance Committee advanced the bill to the floor on a 12-11 party-line vote. A handful of GOP Senators still oppose the plan, but the number is dwindling by the day and no doubt most of them will cave in the end. Meanwhile, in an effort to woo holdouts, Senate tax writers are making the bill even more generous to the wealthy.  

“[A] change demanded by… two unhappy senators — Ron Johnson of Wisconsin and Steve Daines of Montana — would further lower the tax bills of people like President Trump who earn most of their income through limited liability companies, partnerships and other ‘pass through’ businesses that do not withhold taxes on the money passed along to their owners.” – New York Times, 11/28/17

One could rightly ask, where is the outrage on the part of deficit hawks and so-called GOP moderates? What does it even mean to be a moderate who could vote for such a regressive piece of legislation?  Even Maine Senator Susan Collins is negotiating with tax writers instead of remaining firm in opposition.  Hopes that the requisite three GOP Senators will retain the courage to buck this bill are fading fast.

We need to look past the obvious distractions of Trump’s latest tweets and petty feuds and keep our eye on the ball.  The Trump/GOP tax scam is being served up for the benefit of billionaires and corporate titans in the party’s donor base.  Republicans have admitted as much:  big donations will dry up if they don’t get this done.

Months of careful and credible analysis has laid bare the truth about who will pay the price for this irresponsible legislation.  While the 1% get trillions in tax relief, many working class Americans will see their taxes go up in the next ten years:

Almost every independent evaluation of the House and Senate plans has found a $1 trillion tax cut for corporations and changes to the individual tax code that would benefit wealthier Americans while leading to millions of middle-class and lower-income people paying higher taxes than they do now. – Dylan Scott, Vox
Those earning under $10,000 would see their taxes rise by a cumulative $100 million; those earning between $10,000 and $20,000 would see taxes rise by $638 million; those earning between $20,000 and $30,000 would see taxes rise by almost $1.2 billion; and those earning between $30,000 and $40,000 would see taxes rise by $653 billion. – Politifact.

According to Politifact, some 40 million Americans would pay higher taxes in 2027 than they would today. Older Americans would be hit particularly hard.  Not only might their taxes go up if they are not fortunate enough to inhabit the upper income echelons, but the tax legislation would automatically trigger $25 billion in immediate cuts to Medicare.  The projected $1.5 trillion the tax cuts would add to the national debt would no doubt spur Republicans to pursue even deeper cuts to seniors’ earned benefits, leading to benefit cuts and higher eligibility ages for Medicare and Social Security.  Melissa Favreault of the nonpartisan Tax Policy Center warns:

Unless the tax cuts spur immense economic growth, which many prominent economists doubt based on decades of evidence, these cuts will harm future workers and Social Security and Medicare beneficiaries. – Melissa Favreault, Tax Policy Center

Not to mention that the Trump/GOP budget plan calls for over a trillion dollars in cuts to Medicaid, which millions of seniors rely on for long-term care.  Is it fair to punish current and future generations of seniors so the rich and multinational corporations can pocket trillions they don’t even need? 

Republican members of Congress continue to shill for the plan, perpetuating the lie that it provides significant tax relief for the middle class (it clearly doesn’t) or that it will grow the economy and create jobs (a myth disproven by history time and again).  The mainstream media focuses largely on the “horse race” aspect of the tax debate – who’s up, who’s down, how badly President Trump and the GOP need a “win.” Meanwhile, we know who loses, including large swaths of President Trump’s own base in the working class, which is perhaps the most egregious betrayal of all.  As Dylan Scott points out in Vox, candidate Trump promised to bring a new kind of populism to Washington.  “The forgotten men and women of our country will be forgotten no longer,” said the President at his inaugural.  

“Trump promised that the big, beautiful tax cut Republicans would pass would be a tax cut for the middle class. He went so far as to claim that he himself, allegedly worth $10 billion, would not benefit. He pledged that he wouldn’t be swayed by the Washington lobbying class.” – Dylan Scott, Vox

Those millions of working class Americans seem to have been all but forgotten now.  The President and the Republicans in Congress are clearly hoping that most voters are, in fact, distracted or looking the other way as they pull off one of the biggest transfers of wealth in U.S. history.  But we must not look the other way, or soon it will be too late.

 

National Committee President Warns Senators About GOP Tax & Budget Scheme

Seniors and other vulnerable Americans will be hurt if the just-released GOP tax scheme is enacted.  National Committee president Max Richtman told a hearing room full of Senators - including Sen. Ron Wyden (D-WA), Sen. Elizabeth Warren (D-MA), Sen. Debbie Stabenow (D-MI), Sen. Mazie Hirono (D-HI), Sen. Amy Klobuchar (D-MN), Sen. Bill Nelson (D-FL), and Sen. Chris Van Hollen (D-MD) - that the Republicans' budget and tax legislation must be defeated.

“The Republican budget and tax plans allow [Congress] to slash programs critical to older Americans and people with disabilities – all to pay for massive tax cuts for the very wealthy and profitable corporations.” – Max Richtman, 11/1/17

We analyzed the harm that the GOP proposals would wreak on older Americans in a post last week, entitled GOP Budget Resolution a "Lump of Coal" for Seniors, Middle Class.  Among the more heinous measures, Republicans seek to cut nearly $500 billion from Medicare, $1.3 trillion from Medicaid, more than $600 billion from Social Security Disability Insurance (SSDI), and will likely slash billions from other programs that seniors rely on for financial and health security.  

Richtman told the Senators that Medicare beneficiaries “cannot afford to pay more for less coverage” – particularly when half of them have incomes of less than $26,200 a year and spend 25 percent of their Social Security check to pay for Medicare premiums and cost-sharing. “And they cannot afford cuts to Medicare such as those assumed in the House budget – turning Medicare into a voucher program and raising the eligibility age from 65 to 67,” he explained.

What’s more, the tax plan will increase the national debt and compel Republicans to cut seniors’ earned benefits more aggressively in the future – even though Social Security and Medicare Part A are self-financed and do not contribute to federal budget deficits.

 “By increasing the federal budget deficit by at least $1.5 trillion, this measure would leave Social Security, Medicare and Medicaid vulnerable to benefit cuts to make up the difference.” – Max Richtman, 11/1/17

Under the tax bill supported by President Trump and congressional Republicans, the nonpartisan Tax Policy Center estimates the top one percent of Americans would receive 80 percent of the tax cuts. For the top one percent, the average annual tax cut would be over $200,000 by 2027. 

The bottom 80 percent of Americans would receive 13 percent of the tax cuts. In fact, 115 million households earning less than $75,000 a year would receive a tax cut of just $190 on average. But ultimately, most Americans would lose much more in program cuts than they would gain from tax cuts. 

Richtman implored Congress to resist this reckless legislation:

“The National Committee urges all Senators and Representatives to oppose legislation to enact these ‘Robin Hood-in-Reverse’ budget and tax proposals and instead work together to protect the retirement and health security commitments made to generations of Americans." - Max Richtman, 11/1/17


Coming soon to a pharmacy or grocery store near you: Hi-Quality Over the Counter Hearing Aids

Seniors suffering from hearing loss have good reason to cheer. They should soon be able to purchase quality hearing aids over the counter. The Over the Counter (OTC) Hearing Aid Act of 2017 is poised to become law.  Passed by Congress this summer, the Act authorizes the FDA to create a new category of regulated, over the counter hearing aids.  With 30 million Americans (and 4 in 5 seniors) experiencing hearing loss, this is sweet relief for seniors’ pocketbooks and overall health.

Prescription hearing aids can cost as much as $2,500 each (or $5,000 a pair).  The hefty price tag can be a severe strain for seniors living on fixed incomes, especially since Medicare does not cover hearing aids. That’s why some 70% of Americans between age 65 and 84 with hearing loss are not using hearing aids.  They simply cannot afford to. 

The anticipated new generation of OTC hearing aids – meant for people with “mild to moderate” hearing loss – will retail for a fraction of the prescription price:

“By opening the market to OTC aids, manufacturers of consumer electronics --- from giants such as Apple and Samsung to small startups --- could enter the hearing aid space and sell directly to consumers… [at a retail price] between $150 and 299.” - The Hill Newspaper

Imagine being able to buy high-quality hearing aids at your local pharmacy or grocery store for as little as $150, bypassing the time-consuming and expensive process of acquiring them from an audiologist.  Of course, those with more serious hearing impairment will and should continue to seek prescription hearing aids through a specialist.

As we discussed yesterday on Facebook Live, this is not just a matter of personal cost.  It’s a public health issue. Hearing loss is a gateway to other potential medical problems – including fatigue, stress, depression and memory loss.  Access to affordable, high-quality OTC hearing aids means that millions of seniors will likely be able to hear better and stay healthier.

National Committee President Max Richtman hailed the new law as a victory for seniors and all Americans with hearing impairment:

“As someone who suffers from hearing loss, I understand what this new law means for seniors’ health – and their pocketbooks.  While we hope that Medicare will eventually cover hearing aids, the OTC Hearing Aid Act is a common sense, compassionate measure that will improve seniors’ access to quality devices.” – Max Richtman, President of the National Committee to Preserve Social Security and Medicare

The new law is the product of the kind of bipartisanship that most Americans yearn for.  It was cosponsored by Senators Elizabeth Warren (D-MA) and Charles Grassley (R-IA). The House bill was cosponsored by Democratic representative Joe Kennedy III and Republican Congresswoman Marsha Blackburn. The Over the Counter Hearing Aid Act of 2017 proves that, under the right circumstances, sensible members of both parties can come together to improve the lives of ordinary Americans.

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