WHY? Because our seniors have paid into these programs all their adult lives and it’s your opinion that they should be robbed...just like it’s Obama’s opinion that they should be robbed? If we could apply criminal charges to our government officials they would all be in jail for bank robbery!
This graph below shows that the average man and woman (average defined in the study as average income over their working lives and living to the average life expectancy) who start receiving benefits in 2010 get over 3 times more in benefits than they pay in to the system! Of importance, the study accounts for inflation by calculating all past taxes and future payments in 2010 dollars to provide an accurate comparison.
Medicare is unsustainable. It will bankrupt the country unless it is reformed. No system can survive that pays out three times more than the person contributed. We have 10,000 baby boomers retiring every day and will continue to do so for the next 20 years. By 2030, one in five will be 65 or older, twice what it is now. And by 203 there will be just two workers for every retiree.
Medicare is a pay as you go system. Today's workers pay for the benefits of today's retirees.Medicare Part A has been running in the red since 2008. And 75% of the costs for Medicare Parts B and D come from the General Fund. By law, the premiums only pay for 25% of the costs.
And I favor paying back what’s been paid in, with interest.
Most seniors, however, are taking out large, even huge, multiples of what justice allows.
THAT is the problem.