Friday, October 21, 2022

Save Social Security & Medicare - Vote For Repubicans

Every election cycle, Socialist Fascists (AKA Democrats) attempt to scare seniors by telling them that Republicans want to eliminate Social Security and Medicare.  It is just not true; but the reality is that if something is not done to save Social Security and Medicare in the next ten to fifteen years both will be insolvent.  Within this time period, there will only be enough money coming from working people's contributions to fund about 70% of current Social Security entitlements.  So unless some changes are made, cutting benefits will happen automatically.  

And, the real killer for both Social Security and Medicare is the $31 Trillion National Debt.  Shortly, with interest rates going up, the interest on this debt will exceed a trillion dollars a year.  Of course, the brainiacs in Washington will just print money to pay the interest on the debt and in the process destroy the value of the dollar.  It is already happening with the real 17% inflation we are currently experiencing.  So, we need some common sense revisions to both Social Security and Medicare now to save these programs for future generations.  

First, for people under 55 years old today, early retirement age should be 65 not 62.  Full retirement age should occur at 70 years old.  People are living much longer so stretching out retirement age for benefit purposes makes perfect sense.  To allow people to retire earlier if they choose to, there should be more liberal laws related to 401K's and Roth IRA's so people can save more while they are working so if they choose to retire younger they can do so.  The contributions for Medicare benefits, which are already means tested need to be increased for working people to 2% for the employee and 2% for the employer up from the current 3.3% total.  And, most likely Part B premiums paid by retired people will need to be higher.  Medicare Advantage programs should be the standard programs whether HMO's or PP0's.  Currently about 65% of retirees are on Medicare Advantage programs anyway.  Premiums for those that prefer Medicare supplement policies known as Medigap will need to pay more.  

Some combination of these changes will be necessary to save Social Security and Medicare for future generations.  It might be that people under 40 should be allowed to take their share of the Social Security contribution and invest it in a Roth IRA to get a better return on investment.  It is time for Socialist Fascists (AKA Democrats) to stop scaring Seniors.  Vote for Republicans to save Social Security and Medicare.  It will not happen until common sense prevails.  Unfortunately, Socialist Fascists (AKA Democrats) continue to demonstrate that they don't have common sense.  

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