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Goodbye Social Security and Medicare!

Updated on May 12, 2009

 

Today on Yahoo! News, May 12, 2009, was an article about the future of Social Security and Medicare benefits collected from working Americans today that will eventually tap into those financial bonuses after retirement.  The enormous number of 600,000 Americans losing their jobs over the past two months because of the bad economy has seriously affected the collection of Social Security and Medicare taxes.  Nobody is working therefore the U.S. government can’t do what it does best; collect taxes from its hard-working American citizens.  Well the Hurricane Katrina fund is exhausted and so will the financial accounts of both Social Security and Medicare; these two sources of funds will be exhausted by tomorrow before working Americans today will ever get to reap both benefits. 

 

The government has already thought about a terrific plan that will be so simple to implement yet make Americans angry.  Raise the collection of Social Security and Medicare taxes taken out of hard-working American paychecks!  That is ridiculous!  Why are both of these funds experiencing financial difficulties with balances close to zero dollars?  Where is all the Social Security and Medicare money going?  Who is it going to?  What did the audit report say?  Nothing, nada, the audit report is strictly confidential!  What’s the point of taking out both of these taxes today if hard-working Americans won’t be able to enjoy at least a penny of it during their retirement?  It’s like you’re buying a product that you’re not going to use which means it’s a waste of money!  And that’s what working Americans are doing today paying their Social Security and Medicare taxes, they’re wasting their money! 

 

But why can’t the government just “make-up” more money?  They thought about doing it when Yahoo! News in February 2009 reported the economic stimulus package could go up to as much as $3T, which is abbreviated for trillion.  Can you believe it?  $3 trillion dollars?  Where does anyone come up with that kind of money? 

 

An interesting thought would be the time when a high ranking authority figure decided who would be lower class, middle class, and upper class by money status i.e. under $10,000 is lower class, over $50,000 but less than $100,000 is middle class and anyone whose life and owned assets are worth more than $100,000 would be upper class.  It’s like going into the White House today as this same man with that same idea declaring humanity should be segregated by the amount of money they have.    

 

This could force every household in America to homelessness and then there will be no more middle class, only upper and lower!  It’s scary but the United States government has already called a plan to action, raise the collection of Social Security and Medicare taxes today!  It’s like what Montano Inc. is doing to American farmers and farmers across the globe with their stupid patent laws for being the original inventor of genetically altered foods that kill lab animals and insects.  Farmers use Montano’s seed to produce the crop and always end up with pennies after doing all the hard work while Montano Inc. makes off with millions making phone calls by selling and marketing the food crops to international countries for double or triple the profits.

 

 

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    • Roy Patterson profile image

      Roy Patterson 

      6 years ago from Phoenix, Arizona USA

      I not so concerned about Social Security as I am about Medicare. Obamacare has them taking $500 billion from the fund and cutting payments to doctors and hospitals. This is to pay for Obama's Medicad ins. for every so called poor person in the country. Doctors and hospitals will simply stop taking Medicare patients(just like my doctor- if payments are cut). Where would that leave most Medicare Patients- out in the cold or will poor sub-standard health care.

    • Ralph Deeds profile image

      Ralph Deeds 

      9 years ago from Birmingham, Michigan

      ssaffery, don't worry Social Security will be there when it's time for you to retire. The latest estimate is that without any changes the fund will not be exausted until 2037. There are a number of small changes that will make the fund solid for the forseeable future. Some of them are 1) Remove the $100,000 wage cap on contributions; 2) Dampen the cost of living adjustment formula which currently overstates increases in the cost of living; 3) Increase the age at which full benefits are payable to allow for improving health and life expectancy. Here's an accurate summary in today's paper explaining the outlook for Social Security and Medicare;

      http://www.nytimes.com/2009/05/13/us/politics/13he...

    • ssaffery profile imageAUTHOR

      ssaffery 

      9 years ago from Los Angeles, California

      "Paying for Medicare is a problem. However, you overstate the deficiency in the Social Security fund. The balance in the fund is nowhere close "to zero dollars." With a few small tweaks, Social Security will be okay for the forseeable future. Medicare is another matter. Finding ways to reduce the rate of medical care cost increases in this country is imperative. Social Security is a solid program that has broad public support and in Congress. Medicare also is widely supported but, thanks to inefficiencies and waste in our health care non-system it does pose serious funding problems."

      Yes, America's Social Security fund ain't close to zero dollars but it's headed there and it's unfair because I won't get a Social Security check when I retire. I think the entire stimulus package should go directly into the Social Security and Medicare fund given America already wasted billions of dollars trying to save its two automaker giants, Chrystler and G.M., from filing for bankruptcy. These two companies only got a few extra months to remain in business before standing in that Chapter 11 line while the filing line for unemployment benefits continues to grow. Another thought to hold would be how quickly America bounces back from its 2008-2009 version of the "Great Depression" as the world turns and Americans continue to lose their jobs everyday!

    • Ralph Deeds profile image

      Ralph Deeds 

      9 years ago from Birmingham, Michigan

      Paying for Medicare is a problem. However, you overstate the deficiency in the Social Security fund. The balance in the fund is nowhere close "to zero dollars." With a few small tweaks, Social Security will be okay for the forseeable future. Medicare is another matter. Finding ways to reduce the rate of medical care cost increases in this country is imperative. Social Security is a solid program that has broad public support and in Congress. Medicare also is widely supported but, thanks to inefficiencies and waste in our health care non-system it does pose serious funding problems.

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