And for those of us at the tail end of the Baby Boom (dob 1960)....
WE”RE STILL SCREWED!
How so? If you are under 55, with current Medicare system you will have nothing..zero..nada..because it is going bankrupt in 10-15 years.
With Ryan’s plan you will get vouchers to shop for your own health insurance, which fosters competition and hence reduced costs. So there is very good chance you will get at least some help.
With Social security, if you are under 55, you can put portion of your FICA tax in your own plan which will be divorced from government interference, and you can even leave the money to your children.
I think that Mitt’s slip of the tongue, “President Ryan” means he figures that he has a poor chance and that Ryan is the future hope of the party.
So far as Social Security is concerned. I ran across this information. The cap for salaries subject to the SS tax used to be 90% of all earners, top income around $106,000 about 5 years ago. Now, however, salaries at the top have expanded so much that a cap at the 90% level should be $215,000, but in fact is only $110,000 which is now somewhere in the 80% range. Supposedly increasing immediately to the 90% level would reduce SS shortfall by around 36%. If Ryan wants to support middle class wage earners, and retirees then he should push this change asap.
True, but we knew that from the start. I’m just a year older than you but I realized long time ago that the Ponzi scheme they call Social Security was not going to be around by the time I retired, so I have not factored it into my reasoning.
I’ll have to work until I die, there will be no pension for me — unless I want to quit now and be a useless drone until the crash comes.
At least you won't be getting snuffed out by Bill Ayers's Death Panels, like those of us in the leading-edge of the Boom, and the War Babies.