First, as we have been showing for a few years now, Medicare is a payment to the poor and a tax on those not so. I even gather that this was a discussion point in the Post.
But we’ve heard almost nothing of the main problem that makes the budget so intractable. It’s the elderly, stupid.
Wrong. If all else fails look at the facts. Social Security is well funded and Medicare is really a payment system to the poor. You see those who make money still pay into Medicare after 65 and in fact they most likely are health and do not use the system!
This wonderful author then states:
Meanwhile, Social Security, Medicare, Medicaid and other retiree programs constitute roughly half of non-interest federal spending.
Well, Medicare and Social Security are collecting massive amounts. Yet it has been Congress which has taken the money from the funds. The genius continues:
Older Americans do not intend to ruin America, but as a group, that’s what they’re about. On average, the federal government supports each American 65 and over by about $26,000 a year (about $14,000 through Social Security, $12,000 through Medicare). At 65, the average American will live almost 20 more years.
Now to be correct, life span is to 82 not 85 and the $12,000 for Medicare is really $10,500. As for Social Security the average person will have contributed well beyond any payout they receive. Remember it is 14% of their gross salary for say 45 years of their life. For that they get $15,000 per year. Do the math you wizard of Washington, it will not hold up in court! As for Medicare, I did the math, yes for the poor it is a subsidy, for those otherwise it is a tax which keeps on taking!
In my opinion this article starts a real age war! Why not let Granny just die now Sir! You have her money, so take it and redistribute it to those who have contributed nothing! This is the Washington that will drive the United States to the bottom.
Do we need reform, yes. What is it? First, take Social Security out of the hands of the Government, let the money be handled elsewhere. Do not let Congress spend it!
Second, as for Medicare, increase the rate to 4% and move the age to 10 to 12 years before the average death, so if we use 82, we move it to 70 or 72 over the next ten years. Also Medicare should really focus on catastrophic coverage, not every last thing. Yet under the new health care law we have added everything and the kitchen sink to mandated coverage. Dumb.
But why blame those who in good faith contributed? Frankly they are also the ones who vote. In a frightful way this sounds a bit like Germany in the early 1930s, pick a group which is vulnerable and blame them for someone else's stupidity. This is really scary!
I remember walking around Munich and seeing remnants of the beer halls. Echos of the past now call out for the elimination of the elderly! The system is the problem, not a class of people who have little left to defend themselves!
And by the way, if you have $200,000 in cash at say 65, and the interest rate on a 10 year bond is 3%, you get $6,000 in interest. Rich, I think not!
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