"A means test done in an efficient way isn't a problem," he said. "I understand that. Like in Social Security. We already have a partial means test. I get Social Security. My Social Security income is taxed as it should be. I would increase the tax rate on my Social Security income. You don't want to means test it up front -- that becomes awkward -- but say you're making more than $100,000? Tax my Social Security at 95 percent. That's fine. There's an easy way to do that."Why not just outright cuts on the wealthy seniors?
On Medicare, "I would be for increasing copays for people above a certain income," Frank said. "I think high copays for people making more than $100,000 is perfectly reasonable."
Friday, July 22, 2011
Barney Frank Hints At Means Test For Social Security and Medicare
TPM reports that Barney Frank is open to some sort of means test for entitlements: