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Rep. Rangel on the Ryan vs President Obama's 2013 budget

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Published on Apr 19, 2012

On February 13, 2012, President Barack Obama sent his FY 2013 budget to Congress. The President announced that the budget was built around the idea "that our country has always done best when everyone gets a fair shot, everyone does their fair share, and everyone plays by the same rules."

On March 20, 2012, The House Budget Committee advanced an alternative 2013 budget resolution. Committee Chairman Paul Ryan proclaimed that he was "happy to say we have taken another step on the path to prosperity."

... if you look at Ryan's budget, you have to wonder: Prosperity for whom?

To find the answer, let us take a closer look at both budget proposals...

Taxes:

Despite warning that the nation faces perils of debt, the Ryan budget's tax proposals would be extremely costly and would disproportionately favor the nation's highest-income households and large corporations, including Big Oil. People earning more than $1 million a year would, on average, receive $265,000 in new tax cuts, on average... on top of the $129,000 they would receive from the Ryan budget's extension of the Bush tax cuts.

The Democrats' budget, on the other hand, would put a stop to tax breaks for the wealthy and provide tax relief for working families. It would also expand incentives for low- and middle-income families to earn income, save for retirement, and attend college.
To increase fairness and reduce the deficit, the budget closes a variety of corporate tax loopholes. It also includes the "Buffett Rule," which ensures that working families do not face a higher tax rate than the wealthiest Americans.

Health care:

The Ryan Budget would replace Medicare's current guarantee of coverage with a premium-support voucher, raise the age of eligibility from 65 to 67, and reopen the "doughnut hole" in Medicare's coverage of prescription drugs. Together, these changes would shift substantial costs to Medicare beneficiaries and leave many 65-66 year old Americans without any health coverage at all.

The Democrats' budget rejects any policy to end Medicare's guarantee of health care coverage for seniors and disabled workers, and ensures the social safety net remains intact. It supports reforms in the Affordable Care Act to close the prescription drug "donut hole" for seniors with high prescription drug costs and ensure free preventive care.

The Ryan budget would radically restructure Medicaid by converting it into a block grant and to slash federal funding by about one-fifth over the next decade. This would add tens of millions of Americans to the ranks of the uninsured and underinsured.

The Democrats' budget would maintain Medicaid to ensure that 57 million low-income people continue to get health care. Seniors and people with disabilities account for two-thirds of Medicaid spending, and children account for another 20 percent. 

Question repeated... if you look at Ryan's budget, you have to wonder: Prosperity for whom?

The Ryan budget is nothing more than Robin Hood in reverse - it would likely produce the largest redistribution of income from the bottom to the top in modern U.S. history.

...How do you want your tax money to be spent?

Support the Democrats' budget proposal. Ensure prosperity for all Americans.

Produced by the Office of Congressman Charles B. Rangel (D-NY).

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