Fixing(?) Entitlements

[MTK]

Originally Posted by Schneed10

CMS estimates Medicare will run out of money in 2026 so something definitely has to change with the healthcare side. When Medicare was first conceived 65 was set as the age at which it began, now life expectancy is much longer. I don't see how you can fix Medicare without adjusting the age of eligibility. It's hard to see it working without that. Math should be fairly easy - if life expectancy has increased by 5 years since Medicare was conceived, then raise the age of eligibility by five years.

Really, the same should be done with social security because it's the same concept there. People will have to stay in the workforce longer - I don't see any way around that because we need more money coming into the Medicare and SS funds to support those drawing down on them.

This part isn't complicated, it's just politically inconvenient. Nobody wants to be the bad guy to delay benefits to seniors. That's why it won't be voted into place until the public recognizes that the programs themselves are genuinely at risk. Right now it's a figment in the minds of some, but once it becomes a reality for people that they stand to lose their Medicare safety net entirely, only then does it become politically expedient to support it.

In other words, once it's too late. Hope you're all saving your money as effectively as possible. Those capable of supporting themselves on their own two feet stand to come out the other side in decent position. Others will experience difficulties.

The retirement age is already gradually increasing for benefits. The easy solution to me is to drastically raise the cap or eliminate it. Right now the maximum earnings subject to Social Security payroll tax is only $132,900. If we want to get serious about expanding and strengthening Social Security I'm down with Bernie's ideas.