The Ryan Budget and The Buffett Rule

Once again, legislators are looking to slash a number of public services essential to many Americans in order to fix the federal budget.

Under a budget proposed by House Budget Chairman, Paul Ryan, Medicaid will be cut by more than $800 billion over the next decade. The cuts proposed in the Ryan Budget would put the coverage and benefits of million nursing home residents and 3 million elderly and disabled people who remain independent in their homes at risk.

Additionally, the Ryan Budget includes $133.5 billion in cuts to the Supplemental Nutrition Assistance Program over the next decade, which could require ending assistance for million of low-income families.

While Ryan and some members of Congress are pushing for drastic cuts in programs, others are pushing for tax fairness.

President Obama is calling on the nation’s wealthiest people to pay at least a 30 percent tax rate. The Buffett Rule, named after American investor Warren Buffett, would implement a higher tax rate for taxpayers in the highest income bracket.

According to Citizens for Tax Justice, the Buffett Rule would raise $50 Billion in one year and only affect the richest 0.08 percent of taxpayers.

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