Social Security and Medicare and Medicaid were sold to the working man as benefits, but actually social Security and Medicare and Medicaid are actually huge rip offs of the working man!
If you're a working stiff making $50,000 you pay a 15% tax rate PLUS 12% for Social Security (half paid by the worker) PLUS 6% for Medicare (half paid for by the worker).
So, a working guy who works for $50 gees per year from age 25-65 - 40 or so years - has paid about $200,000 into the system. (NOT INCLUDING HIS INCOME TAX.)
If he has a good 10 year run after retirement and is healthy until he's 75, then gets REAL SICK and needs $45,000 in surgery and drugs, the federal government is still WAY WAY AHEAD!
And when he dies A FEW YEARS LATER, all that money leftover (which includes the interest on it) STAYS WITH THE GOVERNMENT!
His heirs got nada, zilch bupkus. IOW: they get screwed. Money he sweated for HIS WHOLE LIFE goes to the government bureaucracy.
If the working guy had put that money into a savings account, then he'd have 300,000 on retirement - MORE THAN ENOUGH TO PAY FOR HIS HEALTHCARE NEEDS WHEN HE'D PROBABLY NEED THE MOST - AS A SENIOR, and if and when he dies ... HE GETS TO LEAVE THE MONEY LEFTOVER TO HIS HEIRS, NOT THE GOVERNMENT.
This is a powerful incentive to stay healthy: you get to leave more to your working class kids!
As it stands now, the system screws the working man and ensures that he doesn't build up wealth in his lifetime which he can leave to his children and grandchildren to give them a better chance at being INDEPENDENTLY wealthy.
If working folks could bequeath the money they NOW send to Washington Dc to their children instead, we could COMPLETELY wipe out poverty in the country in 40 years.
The same is true of Social Security - only more so.
It would be much better for the working man and his kin if he put his Social Security contribution into a PRIVATE ACCOUNT which bought USG bonds and T-BILLS. for the same reason.
Liberals have sold these programs as benefits for the working man, but actually they are chains.
OPIATES.
And Obama is offering more of the same.
(BTW: Instead of the employer paying half these taxes as a benefit to the worker (and getting a write-off for doing so), the worker would be better off with a RAISE and paying all the tax himself --- BUT INTO A PRIVATE ACCOUNT!)
BOTTOM-LINE: PRIVATIZATION OF SOCIAL SECURITY AND MEDICARE WOULD BE THE BEST POSSIBLE THING WE COULD DO FOR THE WORKING MAN AND TO WIPE OUT POVERTY.
DEDICATED TO EXPOSING DISINFORMATION AND PROPAGANDA AND TO PROMOTING UNIVERSAL HUMAN RIGHTS - WITH SHARP ANALYSIS AND BLUNT COMMENTARY. NO ADS. NO TIP-JAR. JUST THE TRUTH.
If the working guy had put that money into a savings account, then he'd have 300,000 on retirement - MORE THAN ENOUGH TO PAY FOR HIS HEALTHCARE NEEDS
ReplyDeleteExactly.
Now, think about what a couple pays in. I figured out once that Mr. AOW, our various employers, and I have paid in about $1 million! Of that $1 million, we've used about $200,000 in benefits over our lifetime thus far. The big bill was Mr. AOW's $100,000 brain surgery in 1993 (out of pocket for us was $20,000 on that one, including the premiums and the copays for that entire year).
And we're still paying premiums through the nose even now.
Damn! I wish that we had the $400,000 we've already paid in for health insurance. And think of the interest that would have accrued had we put that money into a certificate of deposit!
BTW, brain surgery is one of the highest possible bills anyone can face. The only thing more expensive is an organ transplant.
that's why we must not only defeat obamacare but rollback the entire new deal and the whole great society.
ReplyDeleteWhat an odd set of beliefs;
ReplyDeleteA "real sick" senior citizen requires only $45K of health care,
One guy's leftover healthcare taxes just go to the Government bureaucracy (rather than other healthcare recipients,)
Bequeathing the taxes you pay to your kids would wipe out poverty (however, most people in poverty pay little in taxes,)
Privatizing Social Security would benefit the common citizen (especially this past year,)
Yes indeed, the opiates are flowing, but I don’t think it's the masses who are imbibing...
To correct one point you made, the rate for Medicare is 2.90%, not 6%. Of the 2.90%, half (1.45%) is paid by employees and half by the employer.
ReplyDelete