‘No one in the US should be retiring at 65’: Ben Shapiro said Social Security was not designed to provide retirement benefits for 20+ years

[para bellum]

Medicare is the only thing retired folk have...go ahead and take it away and watch the catastrophic events.

We have medicare and social security as basics. Both are under severe actuarial pressure. Social Security is a relatively simple fix.

Medicare much more difficult due to health care inflation.

 

[Marener]

Medicare much more difficult due to health care inflation.

Sometime during the Obama administration, they managed to flatten the curve on health care inflation for Medicare.

Does Obamacare Explain Medicare’s Spending Slowdown?

Readers offered theories of their own on a big budget mystery.

www.nytimes.com

 

[para bellum]

Sometime during the Obama administration, they managed to flatten the curve on health care inflation for Medicare.

I really hope you don't think I take that seriously...

 

[Jarlaxle]

Depending on the age of the person it can be much less than 30 years. My wife will get a pension from the VA where she works after only working there 11 years when she retires at 62. It wont be a lot, but it will be something she gets for life. The Health coverage is ok, but they are paying for it. Oh, and my wife pays 8% of her salary each check into her retirement so it is far from free.

It's worse in some places, Offhand, for decades, MBTA "workers" could retire, regardless of age, after 23 years. There are people who retired in their 40s(!) and have been collecting tax-funded pensions longer than they were employed!

 

[Marener]

I really hope you don't think I take that seriously...

I take the data seriously. You, not so much.

 

[Missourian]

I would gradually phase in retirement from 67 up to 70
If you are 55 or above no change
Everyone else gets 6 months extra for every 5 years under 55

I could live with that.

 

[Marener]

I could live with that.

How old are you?

 

[Missourian]

How old are you?

47

 

[para bellum]

I take the data seriously. You, not so much.

You haven't provided any data, you made a statement and posted a paywalled NYT article.

The only data that counts is the reports from the CBO and the CMS actuaries.

Obamacare cut medicare payouts to health care providers, and added an additional 3.8% tax for high earners (which Biden and other high-earners avoid by taking their S Corp income as dividends).

The medicare "savings" is the projected difference from a baseline projection. Medicare spending continues to increase every year. That money (~$500 Billion) was spent on Obamacare.

Health care providers will shift the burden to private insurance companies by raising rates to cover the reduction in federal payment for whatever the service was.

Obamacare doesn't do anything about health care inflation, which is the underlying driver.

 

[Marener]

You haven't provided any data, you made a statement and posted a paywalled NYT article.

The only data that counts is the reports from the CBO and the CMS actuaries.

Obamacare cut medicare payouts to health care providers, and added an additional 3.8% tax for high earners (which Biden and other high-earners avoid by taking their S Corp income as dividends).

The medicare "savings" is the projected difference from a baseline projection. Medicare spending continues to increase every year. That money (~$500 Billion) was spent on Obamacare.

Health care providers will shift the burden to private insurance companies by raising rates to cover the reduction in federal payment for whatever the service was.

Obamacare doesn't do anything about health care inflation, which is the underlying driver.

 

[odanny]

If one wants to complain about excessively long retirements, paid for by YOU, look at the public sector.

Our elected representatives in the States and local governments have sought over the years to purchase the votes of government employees and their families with massive benefits, mainly health insurance and pensions. Compensation not as much because those numbers can get out, but taxpayers don't really look at the cost of pensions, which are incredibly large.

Most government employees can retire after thirty years service, which given average health and life expectancy, means that they will be retired for thirty years or more, the first 12-14 of which also include "Cadillac" health coverage. But that's not all...

Most union contracts calculate pensions based on the average earnings for the top three years, and they typically load up with extraordinary numbers of overtime hours, resulting in lifetime pensions that are 25-50% higher than they would be if based on base compensation.

But you are paying for it, so not to worry.

Who do you think have the most expensive pensions, based on your own reporting on the excessive overtime?

Cops and firefighters, more of both than there are government employees, excluding state capitols, where most government employees will be found. I've witnessed it firsthand how both, based on the relative youthful age one can begin drawing on both pensions, continue to appreciate in cost and can ruin the finances and budgets of many local governments. Volunteer firefighters are necessary because of this. I've seen this firsthand, bankrupting city budgets.

 

[para bellum]

View attachment 928858

View attachment 928859

Meaningless cartoons.

----------------------------------

...The expenditure projections reflect the cost-reduction provisions
required under current law but not the payment reductions and/or
delays that would result from the HI trust fund depletion. In the year
of asset depletion, which is projected to be 2031 in this report, HI
revenues are projected to cover 89 percent of incurred program costs.

Conclusion

Total Medicare expenditures were $905 billion in 2022. The Trustees
project that expenditures will increase in future years at a faster pace
than either aggregate workers’ earnings or the economy overall and
that, as a percentage of GDP, spending will increase from 3.7 percent
in 2022 to 6.1 percent by 2097 (based on the Trustees’ intermediate set of assumptions). Under the relatively higher price increases for
physicians and other health services assumed for the illustrative
alternative projection, Medicare spending would represent roughly
8.3 percent of GDP in 2097. Growth under either of these scenarios
would substantially increase the strain on the nation’s workers, the
economy, Medicare beneficiaries, and the Federal budget.
.....

The financial projections in this report indicate a need for substantial
changes to address Medicare’s financial challenges. The sooner
solutions are enacted, the more flexible and gradual they can be. The
early introduction of reforms increases the time available for affected
individuals and organizations—including health care providers,
beneficiaries, and taxpayers—to adjust their expectations and
behavior. The Trustees recommend that Congress and the executive
branch work closely together to expeditiously address these challenges.

https://www.cms.gov/oact/tr/2023

 

[DudleySmith]

HMO's and doctors scam Medicare into bankruptcy; Congress won't allow budgeting more to investigate fraud, and drug companies are the worst offenders.

 

[leftwinger]

Who do you think have the most expensive pensions, based on your own reporting on the excessive overtime?

Cops and firefighters, more of both than there are government employees, excluding state capitols, where most government employees will be found. I've witnessed it firsthand how both, based on the relative youthful age one can begin drawing on both pensions, continue to appreciate in cost and can ruin the finances and budgets of many local governments. Volunteer firefighters are necessary because of this. I've seen this firsthand, bankrupting city budgets.

You voted for it decade after decade you commee POS. Your stupidity kills the Country you cheating immoral bag of pig guts.

 

[leftwinger]

CA is a micricosim of the entire corrupted US govt and all States. Pension spiking is normal with millions on $100K +++pension at early age then hired back as $300K consultants In the next town or county. “Double Dippers” as they are known.

 

[DudleySmith]

Slap tariffs on outsourcing to make up the difference or better yet eliminate outsourcing as much as possible. It's not like these other countries ever actually honor these faux 'free trade' deals.

 

[para bellum]

HMO's and doctors scam Medicare into bankruptcy; Congress won't allow budgeting more to investigate fraud, and drug companies are the worst offenders.

Fake suppliers is a huge scam. They setup shop in strip malls and buy the medicare patient list from someone at a local hospital that has access to patient records.

They bill medicare for equipment for those patients, but it's never provided and the patient is unaware. Medicare by law pays in 30 days. By the time anyone catches up to the scammers, they have vacated and setup shop in another city.

 

[DudleySmith]

Fake suppliers is a huge scam. They setup shop in strip malls and buy the medicare patient list from someone at a local hospital that has access to patient records.

They bill medicare for equipment for those patients, but it's never provided and the patient is unaware. Medicare by law pays in 30 days. By the time anyone catches up to the scammers, they have vacated and setup shop in another city.

Fake doctors do the same thing, especially in hospitals; doctors you never heard of and never saw once will send you bills months later for 'services' never provided.

 

[Marener]

Meaningless cartoons.

Data

 

[odanny]

You voted for it decade after decade you commee POS. Your stupidity kills the Country you cheating immoral bag of pig guts.

Be quiet Nancy.