What many may not realize in addition to the means testing of Medicare premiums for parts B and D, is that the premiums for these programs cover, by law, only 25% of the actual costs. The other 75% comes from the General Fund. As a result, 40% of all Medicare expenditures come from the General Fund. With 10k baby boomers reaching 65 every day until 2030, Medicare expenses will consume an increasing percentage of the General Fund.
The Medicare Trust Fund (HI) will be exhausted in 2028 or 2030 depending upon whose estimate you use, i.e., Trustees vs CBO. Thus Part A benefits will be reduced, by law, to revenue received. Medicare is unsustainable as currently structured.
Employer matching is the biggest job killer and hindrance to wages. When you are hired, the employer has to match your SS withholding, pay state and federal unemployment tax and workman’s comp. Is it any wonder employers leave the country?