Comments on: The Fatal Flaw in Social Security and Medicare http://dailyreckoning.com/the-fatal-flaw-in-social-security-and-medicare/ Entertaining Ideas on the Economy, Markets, Gold, Oil and Investing Strategies. Sat, 11 Feb 2012 03:39:16 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Bill http://dailyreckoning.com/the-fatal-flaw-in-social-security-and-medicare/#comment-559616 Bill Wed, 28 Dec 2011 07:03:10 +0000 http://agoratestsite.com/wordpress-dr/?p=2088#comment-559616 Means testing any universal coverage will be the end of that program. It may also cause more recipients to become spendthrifts during their working years knowing that they can spend now and have their benefits later. That reduced incentive to save and invest will result in a lower standard of living for everyone. Perhaps we can try this in Nicaragua now and see how it works. Means testing any universal coverage will be the end of that program. It may also cause more recipients to become spendthrifts during their working years knowing that they can spend now and have their benefits later. That reduced incentive to save and invest will result in a lower standard of living for everyone. Perhaps we can try this in Nicaragua now and see how it works.

]]> By: MisterHills http://dailyreckoning.com/the-fatal-flaw-in-social-security-and-medicare/#comment-363055 MisterHills Thu, 17 Nov 2011 15:45:51 +0000 http://agoratestsite.com/wordpress-dr/?p=2088#comment-363055 All the elderly folks I know - have transferred their homes and assets on paper to their children. They now qualify for everything!.... POINT #2: If work hard, save my money, don't waste my money at bars and casinos...Won't I be penalized for my thrift? Aren't you saying I really should blow my paycheck every week and have a blast because the government will take care of me when I retire or go broke. All the elderly folks I know – have transferred their homes and assets on paper to their children. They now qualify for everything!….
POINT #2:
If work hard, save my money, don’t waste my money at bars and casinos…Won’t I be penalized for my thrift? Aren’t you saying I really should blow my paycheck every week and have a blast because the government will take care of me when I retire or go broke.

]]> By: Lynn http://dailyreckoning.com/the-fatal-flaw-in-social-security-and-medicare/#comment-336089 Lynn Tue, 08 Nov 2011 14:25:20 +0000 http://agoratestsite.com/wordpress-dr/?p=2088#comment-336089 Our government has use this fund over the years to balance the budget and pay for other programs. Keep your finger out and put this program back the way it was before Eisenhower. We would have had plenty of $ to pay everyone on SS. It's not the program but the gate keepers that have made a mess of SS. It's time for them to all go. Our government has use this fund over the years to balance the budget and pay for other programs. Keep your finger out and put this program back the way it was before Eisenhower. We would have had plenty of $ to pay everyone on SS. It’s not the program but the gate keepers that have made a mess of SS. It’s time for them to all go.

]]> By: Dan Golay http://dailyreckoning.com/the-fatal-flaw-in-social-security-and-medicare/#comment-331703 Dan Golay Sun, 06 Nov 2011 15:32:08 +0000 http://agoratestsite.com/wordpress-dr/?p=2088#comment-331703 I'm sure Medicare & Social Security (SS) will be means tested eventually simply because it's the only place left to cut and we're going to need big cuts soon with a massive 40% deficit amounting to $1400B annually. I believe seniors should be able to "unsubscribe" to either program and get their contributions back w/ reasonable interest added. That's only common sense but I suspect we won't even be able to afford that minor courtesy. Tracking and reporting entitlement contributions would help to silence all the rightously indignant seniors who keep crowing about how they "earned" their entitlements when in fact they are paid back on average within the first several years and are on welfare the vast majority of time thereafter. This is an unpleasant little factoid nobody wants to talk about. Both entitlements are essentially welfare programs that we can no longer afford at anywhere near current funding levels. Likewise if anyone thinks we can keep Medicade people in nursing homes indefinitely at $70,000 per year as we're currently doing, you're crazy. The money isn't there folks. I for one would like to unsubscribe from Medicare and get my money back. I can get my own "trauma medicine" insurance for auto and home accidents. The remaining 90% of medical care, covering degenerative diseases, I can get much better from Alternative Medicine that attempts to detoxify the body and boost the body's natural immune system. For 90% of my health care I have little use for monopolistic, expensive, ineffective and dangerous conventional medicine that's taken advantage of our bribery-based political system to censor the media and turn government at all levels into corrupt profit-protectors hiding behind bogus safety and superior-science claims. The future belongs to the lean, low-cost producers that promote cheap, effective and safe natural medicine. A startling little factoid the emerging BRIC economies already know and practice and we're soon going to be reckoning with. I’m sure Medicare & Social Security (SS) will be means tested eventually simply because it’s the only place left to cut and we’re going to need big cuts soon with a massive 40% deficit amounting to $1400B annually.

I believe seniors should be able to “unsubscribe” to either program and get their contributions back w/ reasonable interest added. That’s only common sense but I suspect we won’t even be able to afford that minor courtesy.

Tracking and reporting entitlement contributions would help to silence all the rightously indignant seniors who keep crowing about how they “earned” their entitlements when in fact they are paid back on average within the first several years and are on welfare the vast majority of time thereafter. This is an unpleasant little factoid nobody wants to talk about. Both entitlements are essentially welfare programs that we can no longer afford at anywhere near current funding levels.

Likewise if anyone thinks we can keep Medicade people in nursing homes indefinitely at $70,000 per year as we’re currently doing, you’re crazy. The money isn’t there folks.

I for one would like to unsubscribe from Medicare and get my money back. I can get my own “trauma medicine” insurance for auto and home accidents. The remaining 90% of medical care, covering degenerative diseases, I can get much better from Alternative Medicine that attempts to detoxify the body and boost the body’s natural immune system.

For 90% of my health care I have little use for monopolistic, expensive, ineffective and dangerous conventional medicine that’s taken advantage of our bribery-based political system to censor the media and turn government at all levels into corrupt profit-protectors hiding behind bogus safety and superior-science claims.

The future belongs to the lean, low-cost producers that promote cheap, effective and safe natural medicine. A startling little factoid the emerging BRIC economies already know and practice and we’re soon going to be reckoning with.

]]> By: Nancy Bauert http://dailyreckoning.com/the-fatal-flaw-in-social-security-and-medicare/#comment-326132 Nancy Bauert Thu, 03 Nov 2011 17:18:28 +0000 http://agoratestsite.com/wordpress-dr/?p=2088#comment-326132 The majority of elederly Americans could not survive without social security - Medicare is expensive (reciepients are still required to pay a premium for partB and their drug plan) and are subject to copayments. I find it presumptious to once again target the citizens who contribute to these programs - The elderly who built this country are treated poorly yet the illegals who have never put a cent into the system continually drain the coffers of our country- Why aren't the gangs who are fraudently draining Medicare of millions not targeted? I personally counted on social security after my husband died to help raise my children - even though both my husband and I both worked all our life my children were cut off at high school - Apparently during the Reagan administration benefits to the children of deceased workers was cut so there would be more money to assist those who have never contriuted to this program -- so I worked 3 jobs to support my family and put 4 children through college - So if means tested had been in effect I would still be denied benefits -- The majority of elederly Americans could not survive without social security – Medicare is expensive (reciepients are still required to pay a premium for partB and their drug plan) and are subject to copayments.
I find it presumptious to once again target the citizens who contribute to these programs – The elderly who built this country are treated poorly yet the illegals who have never put a cent into the system continually drain the coffers of our country-
Why aren’t the gangs who are fraudently draining Medicare of millions not targeted?
I personally counted on social security after my husband died to help raise my children – even though both my husband and I both worked all our life my children were cut off at high school – Apparently during the Reagan administration benefits to the children of deceased workers was cut so there would be more money to assist those who have never contriuted to this program — so I worked 3 jobs to support my family and put 4 children through college – So if means tested had been in effect I would still be denied benefits –

]]> By: Arianwen http://dailyreckoning.com/the-fatal-flaw-in-social-security-and-medicare/#comment-324058 Arianwen Wed, 02 Nov 2011 04:07:12 +0000 http://agoratestsite.com/wordpress-dr/?p=2088#comment-324058 The minute you means test Social Security is the minute all those 'entitlement' whiners start making inroads on getting rid of it altogether. Look at Medicaid. It's means tested and it's always the first to get cut because the people who benefit are poor and don't have a big lobby or voting block to to save it from the axeman. As I learned doing volunteer work in high school, many who qualify for means tested programs, like Section 8 housing and educational grants, don't get them because they're stuck on waiting lists that can take over a decade to reach the top of (in NYC there are Section 8 lists that long). Seniors who live on Social Security and Medicare are even more vulnerable due to the ravagement of age on the human body and its ability to march in the streets, and while they have AARP and other senior lobbies, pulling out the upper class seniors from those that use the program would leave it politically weakened and on the table when 'belt tightening' is needed. The minute you means test Social Security is the minute all those ‘entitlement’ whiners start making inroads on getting rid of it altogether. Look at Medicaid. It’s means tested and it’s always the first to get cut because the people who benefit are poor and don’t have a big lobby or voting block to to save it from the axeman. As I learned doing volunteer work in high school, many who qualify for means tested programs, like Section 8 housing and educational grants, don’t get them because they’re stuck on waiting lists that can take over a decade to reach the top of (in NYC there are Section 8 lists that long). Seniors who live on Social Security and Medicare are even more vulnerable due to the ravagement of age on the human body and its ability to march in the streets, and while they have AARP and other senior lobbies, pulling out the upper class seniors from those that use the program would leave it politically weakened and on the table when ‘belt tightening’ is needed.

]]> By: Jack Madara http://dailyreckoning.com/the-fatal-flaw-in-social-security-and-medicare/#comment-323098 Jack Madara Tue, 01 Nov 2011 14:27:19 +0000 http://agoratestsite.com/wordpress-dr/?p=2088#comment-323098 The person who wrote this is an idiot. If we drop all the government employee pension plans and put them on Social Security along with the rest of us, there would be a lot more support for this program and plenty of money to fund it. Those who paid into it all their lives deserve to get what they paid for. This is not a welfarte system, which is what this author would like to make it. It is our savings. The person who wrote this is an idiot. If we drop all the government employee pension plans and put them on Social Security along with the rest of us, there would be a lot more support for this program and plenty of money to fund it. Those who paid into it all their lives deserve to get what they paid for. This is not a welfarte system, which is what this author would like to make it. It is our savings.

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