GOP Agenda: Increase Inflation via Tax Cuts for Wealthy By Slashing Social Security & Medicare

The MAGA GOP agenda for America is becoming clearer and clearer.

Last week, Bloomberg reported House Republicans were planning to hold government funding hostage to cut Medicare and Social Security that millions of Americans rely on.

Now, the Washington Post is confirming that report:

Republicans seeking to lead the House budget committee are all exploring changes to Social Security and Medicare to reduce costs to the federal budget, seeking to use the debt ceiling or government shutdown to force the issue.

Republicans are telling the Post they want to extend tax cuts for the wealthy and corporations that economists say will increase inflation:

Economists say the GOP’s plans to expand the tax cuts flies against their promises to fight inflation and reduce the federal deficit, which have emerged as central themes of their 2022 midterm campaign rhetoric. Tax cuts boost inflation just like new spending, because they increase economic demand and throw it out of balance with supply. {…} The legislative battles could start before the end of this year. Republicans are already pushing extension of three corporate tax breaks — including two that expired at the end of last year and a third that starts to expire next year. Collectively, these three measures would add roughly $600 billion to the federal deficit over 10 years if extended, according to nonpartisan estimates.

James Singer, DCCC spokesperson:
“The MAGA GOP agenda would be a disaster for America. Every GOP candidate for Congress now owns Republicans’ plan to slash Medicare and Social Security to give tax cuts to corporations and their wealthy donors, increasing inflation and hurting vulnerable Americans.”

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