Ryan and Rouzer: A Medicare Cutting Match Made in Heaven
Raleigh, NC - Today, Congressman Paul Ryan, the author of the House Republican budget plan, pitched his idea for massive cuts in Medicare to North Carolinians which lobbyist and congressional candidate David Rouzer has said he supports “wholeheartedly.” This plan devastates Eastern North Carolina families by turning Medicare into a voucher program, raising senior citizen’s health care costs while protecting tax breaks for companies that ship jobs overseas and giving “huge tax cuts for CEOs, billionaires and business insiders.”
Eastern North Carolina families are all too familiar with lobbyist and politician David Rouzer’s record of defending tax breaks for big corporations even when the state was facing a $800 million shortfall.
“Washington Lobbyist David Rouzer is too eager to return to Washington to vote for massive cuts in Medicare in order to protect tax cuts for ‘CEOs, billionaires and business insiders,” said Walton Robinson with the North Carolina Democratic Party. “Eastern North Carolinians are tired of the Ryan-Rouzer agenda that prioritizes senior citizens and hardworking families after special interests, billionaires, Big Oil and companies that ship jobs overseas.”
Rouzer Supports Ryan Budget “Wholeheartedly.” In April 2012, Rouzer said, “And yes, I support Paul Ryan’s proposal. And do so wholeheartedly.” [Republican Primary Debate, 4/09/12]
Ryan’s Plan is a Budget for Wall Street, Not for Us. The Cap Times wrote that Ryan’s plan is “A budget for Wall Street.” The newspaper wrote: “The Wisconsin Republican has a history of crafting budgets that deliver for Wall Street. And he makes no great apology for that. The Ryan budgets of the past several years have come at federal spending, tax, debt and deficit questions from different directions. But they have all ended up in the same place: outlining huge tax cuts for CEOs, billionaires and business insiders; proposing voucher schemes that have as their likely outcomes the steering of Medicaid and Medicare money into the accounts of private insurers; imagining Social Security ‘reforms’ that would have Americans trusting their retirement ‘security’ to the speculators.” [Madison Cap Times, 3/29/12]
Ryan’s Plan Also Encourages Companies to Ship Jobs Overseas. Currently, U.S. companies pay the tax rate of the country where the outpost is located and then, if they bring those profits home, often pay some U.S. taxes as well. Under Ryan’s proposal, companies essentially would pay just the tax rate of the country where the profits are earned. According to the Tax Policy Center, exempting these offshore earning from U.S. tax liability “might encourage some domestic companies to move more of their operations—and shift both jobs and more reported income—to low tax countries.” Similarly, Citizens for Tax Justice concluded that adopting this type of system would increase the incentives for job offshoring. [National Journal, 3/20/12; Wall Street Journal, 3/19/12; Tax Policy Center, 2/28/12; Citizens for Tax Justice, 10/19/11]
Rouzer Pledged to Protect $92.5 Billion in Subsidies That Encourage Companies to Outsource Jobs. The Americans for Tax Reform pledge has become a litmus test for Republican congressional candidates and Members of Congress. The Americans for Tax Reform falsely claims that cutting tax expenditures constitute a tax increase. In reality, it is widely recognized that cutting tax expenditures is just another way to cut spending. Rouzer, who signed the Americans for Tax Reform pledge, has promised to protect $92.5 billion in subsidies that encourage companies to ship jobs overseas. [CBS News, 11/20/11; Americans for Tax Reform Pledge Signers, accessed 5/09/12; Americans for Tax Reform, 4/11/11; Center for American Progress, 3/11]