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Social Security and Medicare
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Retirement Planning
Social Security and Medicare
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Social Security and Medicare are hot topics..Here are my thoughts: I payed into Social Security and Medicare for over 40 years..Dollars were deducted from every pay check with the understand
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Cat:7a9899c6-bb01-48a5-bd56-e73d9d7e3998Forum:f30f5dc6-f3c4-4828-8510-fbe290ff0053Discussion:df0dff7e-283e-4b4f-a187-23e3a953a8a4
Forums » Work & Retirement » Retirement Planning » Social Security and Medicare
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Social Security and Medicare
posted at April 2, 2012 12:44 PM EDT
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Posts: 1
First: April 2, 2012 Last: April 2, 2012 |
Social Security and Medicare are hot topics..Here are my thoughts: I payed into Social Security and Medicare for over 40 years..Dollars were deducted from every pay check with the understanding that when I reached my designated retirement age this money would be re-imbursed to me in the form of monthly SS checks and health care via Medicare.. There were times when I could have used this money being deducted from each of my pay checks..But, I had no choice because it was mandatory that my employer make these deductions from each pay check ! Now, it appears that some feel that SS and Medicare are entitlements that seniors are given just because they have reached a certain age..Well, this is sure far from the truth ! We payed into the system and have earned our SS and Medicare over years of payroll deductions..One new health care plan being discussed even goes as far as to say that Medicare needs to be dropped and seniors then required to " buy into a new health care plan " ! Imagine, after paying into Medicare for 40 years and never using Medicare to possibly now being forced to " buy " into a new plan just when I recently retired ! ! Another fact seems to be completely overlooked and you never hear it mentioned when Medicare comes up = Seniors like myself continue to pay into Medicare..I have Medicare dollars deducted from each of my Social Seurity checks..So, after paying for Medicare for 40 years, I am still paying a monthly fee to Medicare for my coverage..It still isn't free for any of us seniors...We're still paying every month for it !! I wish more would be said about this ! |
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Re: Social Security and Medicare
posted at May 5, 2012 12:45 PM EDT
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Posts: 54
First: May 12, 2009 Last: May 5, 2012 |
The fact that SS & Medicare are now deemd 'entitlementsd" is by no accident... and all devoted Republicans oppose any such program on the basis of their party's foundation--Calvinism. During Ronald Reagn's first term, federal accouning procedures were changed to place SS into "general ledger".. that was done to include SS Trust Funds in the ledger as an asset to off set defict of federal budgte. Thus,the true operating defcit looked smaller due to SS Trust funds offsetting operating costs.. Thus, he coudl im[plement a tax cut by making federal deficit look smaller. In 2000, Canddiate Bush decalred a "surplus" to implement a tax cut.. when actually 87% of the so-called Federal Surplus actually resdied in the SS Trust fund. An added advantage of placing SS in the accounting scheme was it's visibility as a line item expense, thus it ceased to be a "retiremnt program" as such and now maligned as "enititlement" expenses that when financed, are blaspehemy to the Republican faithful. Medicare was always on Reagan's hit list also, beginning in 1964 when Ronnie made info commercials trashing it. The one thing that could help medicare funding now and future would be to change its only being usable in US. By allowing payments out side of US would allow 10's of thousands of seniors to to live as expatriots in other countrie where medical costs are more reasonable. that si exactly why canada insurance included out of country payments from day one.. they saw "outsourcing" as very cost effective and it worked. We could do the same here.. after all, we seniors are revield as "entitlement" based free loaders... and one coudl argue our stay is deterimental to the economic future of US So, let us go... live in a foriegn land... by allowing our medciare to go with us.. jsut like SS does. Thousands u[on thoussands of us stay in US due to Medicare restriction... when we could live better in another land... staying here to use Medciare is tnamount to indentured servitude of sorts.. for teh screaming Republican politicians and the medical servcie providers that contribute to a 30% annual inflation rate taht cannot be sustained as boomers retire. As anation, we readily outsource everything else so why not our medical services? Canada did... and their insurance fund is basically solvent, experiencing only a miniscule 6% deficit last year... let our seniors go! |
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Re: Social Security and Medicare
posted at May 6, 2012 11:02 AM EDT
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Posts: 1923
First: November 27, 2011 Last: May 18, 2013 |
In Response to Social Security and Medicare: Social Security and Medicare are hot topics..Here are my thoughts: I payed into Social Security and Medicare for over 40 years..Dollars were deducted from every pay check with the understanding that when I reached my designated retirement age this money would be re-imbursed to me in the form of monthly SS checks and health care via Medicare.. There were times when I could have used this money being deducted from each of my pay checks..But, I had no choice because it was mandatory that my employer make these deductions from each pay check ! Now, it appears that some feel that SS and Medicare are entitlements that seniors are given just because they have reached a certain age..Well, this is sure far from the truth ! We payed into the system and have earned our SS and Medicare over years of payroll deductions..One new health care plan being discussed even goes as far as to say that Medicare needs to be dropped and seniors then required to " buy into a new health care plan " ! Imagine, after paying into Medicare for 40 years and never using Medicare to possibly now being forced to " buy " into a new plan just when I recently retired ! ! Another fact seems to be completely overlooked and you never hear it mentioned when Medicare comes up = Seniors like myself continue to pay into Medicare..I have Medicare dollars deducted from each of my Social Seurity checks..So, after paying for Medicare for 40 years, I am still paying a monthly fee to Medicare for my coverage..It still isn't free for any of us seniors...We're still paying every month for it !! I wish more would be said about this ! Posted by kiwiwonka 1. You were NOT forced by your employer to contribute to SS or Medicare - you were forced by the laws of the USA. Employers also matched the amount of your contribution - governed again by the laws of the USA. Exactly what do you think they are getting back for this "contribution". 2. Your contributions via payroll deductions through the years for SS and Medicare ENTITLED you to be a beneficiary if you put in for as long as legislated to be vested into the programs. It is just a word, nothing else. 3. Of course they also call Medicaid, SNAP (food stamps), Social Security Disability, Supplemental Security Income, etc. all entitlement too. But let's look at the math and see why SS and Medicare also fall within this same realm. I'll use my Mother as an example since I know her numbers.
Yes, something has to be done about both but it is the Medicare Part A (Hospital Insurance) part of Medicare that is the most critical and the Disability part of Social Security since it seems many are seeking this benefit - but we also have 10,000 baby boomers retiring every day and we, it seems. are all looking for our just rewards form those years of contributions. So figure up how much you have contributed through the years. add in your employer side of the contribution, add a modest rate of return and maybe it would be best for all of us if the USA just cut you and check and said "here's your part - use it wisely." Would that make everything "fair"???? |
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Re: Social Security and Medicare
posted at May 6, 2012 11:16 AM EDT
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Posts: 1923
First: November 27, 2011 Last: May 18, 2013 |
In Response to Re: Social Security and Medicare: The fact that SS & Medicare are now deemd 'entitlementsd" is by no accident... and all devoted Republicans oppose any such program on the basis of their party's foundation--Calvinism. During Ronald Reagn's first term, federal accouning procedures were changed to place SS into "general ledger".. that was done to include SS Trust Funds in the ledger as an asset to off set defict of federal budgte. Thus,the true operating defcit looked smaller due to SS Trust funds offsetting operating costs.. Thus, he coudl im[plement a tax cut by making federal deficit look smaller. In 2000, Canddiate Bush decalred a "surplus" to implement a tax cut.. when actually 87% of the so-called Federal Surplus actually resdied in the SS Trust fund. An added advantage of placing SS in the accounting scheme was it's visibility as a line item expense, thus it ceased to be a "retiremnt program" as such and now maligned as "enititlement" expenses that when financed, are blaspehemy to the Republican faithful. Medicare was always on Reagan's hit list also, beginning in 1964 when Ronnie made info commercials trashing it. The one thing that could help medicare funding now and future would be to change its only being usable in US. By allowing payments out side of US would allow 10's of thousands of seniors to to live as expatriots in other countrie where medical costs are more reasonable. that si exactly why canada insurance included out of country payments from day one.. they saw "outsourcing" as very cost effective and it worked. We could do the same here.. after all, we seniors are revield as "entitlement" based free loaders... and one coudl argue our stay is deterimental to the economic future of US So, let us go... live in a foriegn land... by allowing our medciare to go with us.. jsut like SS does. Thousands u[on thoussands of us stay in US due to Medicare restriction... when we could live better in another land... staying here to use Medciare is tnamount to indentured servitude of sorts.. for teh screaming Republican politicians and the medical servcie providers that contribute to a 30% annual inflation rate taht cannot be sustained as boomers retire. As anation, we readily outsource everything else so why not our medical services? Canada did... and their insurance fund is basically solvent, experiencing only a miniscule 6% deficit last year... let our seniors go! Posted by oldgringo Where are you getting your information? From the Social Security Administration: HISTORY of Social Security: "In early 1968 President Lyndon Johnson made a change in the budget presentation by including Social Security and all other trust funds in a"unified budget." This is likewise sometimes described by saying that Social Security was placed "on-budget." You can read the rest of the history yourself. You need to brush up on your history expecially in the Reagan years and what he did to make SS solvent for at least 25 - 30 more years. |
Forums » Work & Retirement » Retirement Planning » Social Security and Medicare
