Senator Tom Coburn, an Oklahoma Republican, has just won a victory over earmarks and now is setting his sights on aid to millionaires.
The purpose behind the Oklahoma senator’s move: he hopes it will lead to means testing for Social Security and Medicare.
Coburn will use the same strategy that he used when fighting “pork barrel spending,” taking aim at what he views as wasteful spending. The Oklahoma Republican made his initial push earlier this week, publishing ”Subsidies of the Rich and Famous,” which his office said uncovers $9 billion in retirement payments that millionaires receive annually from the federal government.
“It is a new way to make the case for means testing, not just for Social Security but [also] Medicare. This isn’t class warfare. It’s classy warfare,” said Coburn’s office.
Overall, the Oklahoma Republican supports reforming the tax code, saying lawmakers must make sure that the tax code and Social Security nets are for only those that need it.
“Why is Canada’s Social Security system not in trouble? Because Canada looks at how much you are making each year, and at certain levels, you get half of your Social Security, because you obviously don’t need it because your income is up there, and at a certain other level, you get none of it,” Coburn said in a speech on Thursday.
It remains unclear whether Coburn can find support from Democrats.
Senator Debbie Stabenow of Michigan commented “that she was heartened that Coburn is concerned with the “income gap in this country and I would hope it would be reflected in what he supports in terms of tax policy for millionaires.”
