Here are some excerpts from New York Times columnist Paul Krugman’s April 11 op-ed, ‘No Shared Sacrifice In Ryan’s Plan’:
Obama is conspicuously failing to mount any kind of challenge to the philosophy now dominating Washington discussion — a philosophy that says the poor must accept big cuts in Medicaid and food stamps; the middle class must accept big cuts in Medicare (actually a dismantling of the whole program); and corporations and the rich must accept big cuts in the taxes they have to pay. Shared sacrifice!
I'm not exaggerating. The House budget proposal that was unveiled [by Rep. Paul Ryan] last week — and was praised as "bold" and "serious" by all of Washington's Very Serious People — includes savage cuts in Medicaid and other programs that help the neediest, which would among other things deprive 34 million Americans of health insurance. It includes a plan to privatize and defund Medicare that would leave many if not most seniors unable to afford health care. And it includes a plan to sharply cut taxes on corporations and to bring the tax rate on high earners down to its lowest level since 1931.
The nonpartisan Tax Policy Center puts the revenue loss from these tax cuts at $2.9 trillion over the next decade.
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