Quote:
Originally Posted by Marine1974
What do you mean by we haven’t paid enough ?
Medicare is funded by a combination of sources, including:
General revenues: Contributions from the government
Payroll taxes: Paid by both employers and workers
Beneficiary premiums: Monthly payments for coverage
Other sources: Taxes on Social Security benefits, state payments, and interest
My taxes on my social security payments up to 85% also pay for Medicare . I’m being taxed on money I contributed.
|
You may be right. I meant in the collective. But the vast majority of retirees will receive more than they put in. This in large part due to the advancements in medicine and the deteriorating health of elderly Americans due to poor lifestyle.
PolitiFact | Medicare and Social Security: What you paid compared with what you get
Payroll Taxes Fall Short of Paying for Social Security and Medicare-2023-12-18.
The system will continue to get worse until beneficiaries are incentivized or convinced to eat a healthier diet and do more exercise. But I don't see that happening. But of course the downside of people living longer healthier lives will mean that the SS retirement age will need to be raised but that would be a good tradeoff.
Blue Zones: Lessons From the World’s Longest Lived Blue Zones - PMC