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Almost atone, congress createq the depreciating dollar, which destroys the willingness to save. With-i out savings needed to improve' industries, our living standards and freedoms are increasingly at risk. Blame Congress for this.
Consider another assault on equ> ity: the special “tax” on seniors’ income ordered by Congress in 1988.J Aimed at improving Medicare health! insurance, the “Medicare Cataatrophic Coverage Act of 1988” re-' quires everyone covered by; Medicare to pay each year “an additional supplementary medical insurance premium” of $48.
And since that modest premium does not cover the cost of the pro- * gram, approximately half the af-, fected seniors — those who were, careful, who did without during their working years to save for old age and retirement — are penalized. They will pay an added “annual supplementary premium” (a surtax is a better name) of $22.60 for each $150,
See LETTER, p. 5 j
4
75.7%