Patriotic Millionaires Response to Medicare Funding Report

Wednesday, June 06

For Immediate Release

Wednesday, June 6, 2018

Contact: Kelsea-Marie Pym



“Just Tax Us More, PLEASE”

“The GOP is waging a war on everday Americans on behalf of their donor class. Why else would they stand by and watch programs that help 40% of America dry up while simultaneously promoting a $1.9 trillion tax cut for the wealthy?”


Washington, DC – According to a new report released yesterday by Medicare trustees, the program is projected to run out of funding three years earlier than previously expected, now running out of money by 2026. A partner report stated that the funding for Social Security would run out in 2035.


In response to this news the Patriotic Millionaires released the following statement:


“This is beyond absurd, this is morally bankrupt. The GOP is waging a war on everyday Americans on behalf of their donor class. Why else would they stand by and watch programs that 40% of Americans benefit from dry up all while signing a $1.9 trillion tax cut for the wealthy into law?


Millions of American seniors depend on these programs every day. Maybe GOP members of Congress are not thinking about those seniors, about 2026 or about 2035 because they plan to have skipped through the revolving door to lucrative K Street lobbying jobs by then. Whatever the reasoning, it’s become clear the the GOP has plans for the type of America they want to live in, and it is not the type of America we want to live in.


We want to live in an America with a healthy population, a population that is able to live in retirement with dignity, and a population that is not under constant attack by Republican lawmakers. So tax us more. Tax us more to fund these programs and give us a healthy workforce, to give us retirees who can afford to buy our goods and services, and to give us a country that we can be even prouder to call home.”


It comes as no surprise that members of the GOP have little to say in public about this news. In fact, the party voted last year to dismantle the Independent Payment Advisory Board, created by the Affordable Care Act, in order to slow the growth of Medicare. The party also voted to repeal the penalty for people who without health insurance, which had helped to offset Medicare payments to select hospitals for “uncompensated care.” To date, the party has not taken up multiple legislative pushes to remove the Social Security spending cap which allows millionaires and billionaires to stop paying into Social Security weeks, sometimes even just days or hours, into the year.


For further comments or questions, please contact Kelsea-Marie Pym at


About the Patriotic Millionaires

Proud “traitors to their class,” members of the Patriotic Millionaires are high-net worth Americans, business leaders, and investors who are united in their concern about the destabilizing concentration of wealth and power in America. The mission of The Patriotic Millionaires organization is to build a more stable, prosperous, and inclusive nation by promoting public policies based on the “first principles” of equal political representation, a guaranteed living wage for all working citizens, and a fair tax system. You can find out more at

The Patriotic Millionaires have appeared on hundreds of media outlets here and abroad, including The Daily Show with Jon Stewart, the PBS NewsHour, The New York Times, Washington Post, CNN, MSNBC, Fox News, and many others. You can find more coverage at


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