Sunday, March 3, 2013

Social Security & Medicare - Already Means Tested

Can we please stop all the B---S--- related to Social Security and Medicare.   These programs are already means tested today for the "rich", those that earned more than $250,000 a year, which is basically anyone with money, or assets.  For married couples filing jointly with income above $44,000 after retirement, 85% of their Social Security benefits are taxed at whatever their tax rate happens to be.   So depending on the state of residence and total income, it is probable that the "rich", that paid in far more than the average American, is giving back 30 - 40% of their Social Security benefits.   These rules are a form of means testing. 

Specific to Medicare, though the "rich", again basically anyone with money and assets that made a good living while working and paid in for Medicare benefits without any limits, are paying three times, or more, than the minimum payment is for Medicare.   So instead of paying about $100 a month for Medicare, the "rich" are paying more than $300 a month for Medicare.   In fact, the rich who are the only people in America that actually paid enough in to fund their Medicare benefits, after paying for a Medigap policy, are probably paying more for health insurance after retirement, than they paid when they were employed paying for a share of their health insurance. 

President Obama and his Socialist Pals in government always demagogue the Social Security and Medicare issue with propaganda and lies.   Anyone who wants to know the truth should just go on the government website to get the facts.  Social Security and Medicare are already means tested.  This Blogger believes that there should be NO means testing for Social Security, since no matter what we earned while working, we already paid in for a life time to receive this pension benefit.  

And, while only the rich, those earning more than $250,000 a year, have actually paid for their Medicare benefits in full, as opposed to the average American, I have no problem with means testing Medicare in order to make sure that poor Seniors have medical care even though they never paid in enough to cover this benefit.   But can we at least be honest about means testing for Social Security and Medicare.  It is already happening.   Sadly, since Socialists like President Obama will lie, cheat, steal, or borrow to stay in office feeding at the trough, don't expect the truth from them any time soon.    

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