${site.data.firmName}${SEMFirmNameAlt}
Throughout Southern California
310-324-9403
Toll-Free
866-402-1805
View Our Practice Areas

Will Tax Cuts Lead to Reduced Entitlements?

Senator's comments create concerns, as tax reform advances.

As tax reform moves forward, remarks by Sen. Marco Rubio have come to light that have many observers nervous, according to the Wills, Trusts & Estates Prof Blog in "Rubio: Offset Tax Cuts By Reducing Social Security, Medicare Benefits."

The senator suggested that the tax cuts could be paid for eventually by cutting programs the elderly rely on, including Social Security and Medicare. He proposed to cut benefits for future generations, since they would have plenty of time to prepare for the changes.

Republicans in both the House of Representatives and the Senate have passed a tax reform package. However, there is still a ways to go before anything becomes law.

The differences between the bills passed by the two chambers are significant enough, that a final bill needs to be negotiated in committee and then both chambers of Congress will need to vote on it.

Both bills would add approximately $1.5 trillion to the national debt, causing many observers to wonder what happened to the GOP's normal stance that the budget should be balanced.

One problem with that is Americans are already not saving enough for their retirements with current benefit amounts. It is not certain that changes to benefits would spur them to save more.

No Comments

Leave a comment
Comment Information
Email Us For A Response

Find Out The Difference That Experience And Expertise Makes

Get the peace of mind that you deserve. First, attend a seminar. This will entitle you to a free initial consultation and a discounted estate planning fee. To learn more about our services or sign up for a seminar, contact us online or call us at 866-402-1805. We have offices in Torrance, Orange, Newport Beach, Pasadena and Woodland Hills.

Questions? Contact Us.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Call Now For A Free Consultation: 866-402-1805
  • ${site.data.firmName}${SEMFirmNameAlt}
  • Main Office: Torrance

    Torrance Office
    990 West 190th Street
    Suite 500
    Torrance, CA 90502

    Toll Free: 866-402-1805
    Map & Directions

    Orange Office
    333 City Boulevard Street
    17th Floor
    Orange, CA 92660

    Toll Free: 866-402-1805
    Map & Directions

    Newport Beach Office
    5000 Birch Street
    Suite 8000
    Newport Beach, CA 92660

    Toll Free: 866-402-1805
    Map & Directions

    Pasadena Office
    790 East Colorado Boulevard
    9th Floor
    Pasadena, CA 91101

    Toll Free: 866-402-1805
    Map & Directions

    Woodland Hills Office
    5850 Canoga Avenue
    4th Floor
    Woodland Hills, CA 91367

    Toll Free: 866-402-1805
    Map & Directions

    Office map