Talk of The Villages Florida - View Single Post - Are Soc. Sec. and Medicare important to you?
Thread: Are Soc. Sec. and Medicare important to you?
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Old 10-08-2020, 11:47 AM
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Originally Posted by KRM0614 View Post
Wrong social security and Medicare is not a transfer of wealth. WhenD
FDR created SS it was clear it was supposed to supplement savings to retire. He designed it through payroll tax with holdings, original system was 6 persons contributing to one person retiring. With the onset of deficit spending starting with FDR thru today combined with disincentive to work thru welfare disability fraud and keeping young adults on Obamacare. However social security contributions are now 1.5 persons to 1 person. When the Congress split social Security into 3 pots - retirees, widows & orphans and disabled it was underfunded because it became a shell game. Medicare is funded through the budget and it was invested poorly for both social security and Medicare.
In my opinion, when you pay some beneficiaries more money then they contributed and you pay other beneficiaries less money than they contributed, that is a transfer of wealth.