I have one big, big, big, big, big caveat for the Romney/Ryan team, and I can’t say it enough.
They need to sell Ryan’s Medicare plan, or any suggestion to overhaul it, by preceding every such conversation with a big warning that no changes will effect anyone over 55 years of age.
Being practical here, folks 55 or older collecting Medicare, they didn’t do anything wrong. They went to work all their lives while 7.65% was deducted from our paychecks and OUR EMPLOYER MATCHED IT! Which makes over 15% put away for our retirement and medical needs.
We didn’t get breaks like they get today on this “payroll tax”, we didn’t plan on being leaches on the system, fifteen percent....that’s a lot. Husband saved only 4% of his pay all his life, with an employer match on his 401K, and we got a ton of money back on that.
Well Sears didn’t spend all the money they deducted from husband or their match. By law they had to put it aside in a separate account while the politicians spent our mandatory 15% to look us in the eye now and tell us the money is gone. Those of us who had other plans know that 15% of a check toward retirement needs should have darn well been enough.
And further, just to illustrate more, I once worked for AT&T. Yes mighty AT&T, but I worked for Western Electric, the manufacturing arm of AT&T.
Which was turned into Lucent Technologies, than Alcatel bought by France.
The other day I got a notice that I am eligible for a lump sum payout rather than a monthly pension if I desire.
Total due me...$41,787 bucks! And this was with NO contribution on my part save 15 years of service.
They too had to keep pension money aside and not spend, by law, and lookit, I got lots of money when the politicos didn’t spend it!
So Romney/Ryan have to make it clear that changes and fixes will NOT affect those 55 or older as these people spent their law-abiding lives believing the money and system would be there when they need it.
There’s a way to fix Medicare, Social Security, and goodness, permanent disability in this country is an issue. Don’t scare the seniors and they’ll get out support.
Being practical here, folks 55 or older collecting Medicare, they didn’t do anything wrong. They went to work all their lives while 7.65% was deducted from our paychecks and OUR EMPLOYER MATCHED IT! Which makes over 15% put away for our retirement and medical needs. They may have not done anything wrong, but they are receiving three times in benefits to what they paid into the system. Medicare is unsustainable. What most people don't know is that the premiums paid into Medicare Parts B and D cover only 25% of the costs. By law, the General Fund picks up the rest, which is why Medicare will consume the entire federal budget if it is not reformed.
This graph shows that the average man and woman (average defined in the study as average income over their working lives and living to the average life expectancy) who start receiving benefits in 2010 get over 3 times more in benefits than they pay in to the system! Of importance, the study accounts for inflation by calculating all past taxes and future payments in 2010 dollars to provide an accurate comparison.
If the notion that Medicare recipients are simply "getting back what they paid in" is false then where is the money coming from? Simply, the excess received is being borrowed from younger generations and the cost is more than we can bear.
They need to sell Ryan’s Medicare plan, or any suggestion to overhaul it, by preceding every such conversation with a big warning that no changes will effect anyone over 55 years of age.
Agree. Keep it focused, and simple.
Also point out that the choice proposed for a changed system is very similar to that enjoyed by congress today.
Heard this on Fox this AM by the former head of the AMA.
He repeated it at least 3 times so must feel its a selling point to focus on .
Impressed me that he wanted to reveal the hypocrisy of politicians who want to enjoy the best of both worlds, while telling us we are in danger of losing something they screwed up.