I guess we had to steal the money from the second weakest group in our society. the children have no money.
Actually the boomers/Xers/Yers paid into SS and Medicare so that when they retire they would have a pension and healthcare. Some paid about $300,000 over their working lives. Multiply that by about 100,000,000 retirees and you end up with about 30,000,000,000,000 in benefits owed.
SS will go bankrupt in 2037 and Medicare in 2017. Fixing SS is easy, fixing Medicare will be tough. Lets say that sickest 5% of the population uses ~50% of medical resources, and that ~25% of medical resources are used on the dying. So fixing Medicare is actually simple too if you don't mind denying care to the "gomers" and dying and incurable.
I can't wait to see which party actually throws the dying under the bus since they pissed away the windows that they could have used to fix the system.
ahh but you do not take into account those who will die before drawing anything from SS or who will die before drawing out a fraction of what they paid in.
All factors must be entered into the equasion for it to apporach validity.
Over 180K is in my account paid by me or my employer but I will die without drawing a penny. My survivors will get a $200 or so death benefit.
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