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Article posted Sep 05 2012, 12:34 AM Category: Economy Source: Sheldon Richman Print

Medicare Is Doomed

by Sheldon Richman

When Democrats accuse Republicans of wanting to “end Medicare as we know it,” they are right. But Democrats do too. “Medicare as we know it” is no longer an option.

Leaving aside Medicare’s fatal moral defect — that it’s coercively funded — the program is doomed. It has tens of trillions of dollars in unfunded liabilities. It threatens working generations with a crushing tax burden. Because of the relative size of the Baby Boom generation, soon there will be only two workers to pay each retiree’s medical bills. Younger people might have other plans for their money.

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Comments 1 - 2 of 2 Add Comment Page 1 of 1
Anonymous

Posted: Sep 05 2012, 10:06 AM

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98150 Meanwhile, back in reality audits show we the taxpayers gave out 16 TRILLION dollars to banks and corporations, both foreign and domestic, with the bailout of 2008.

So pray tell, what's more damaging to our society and burdening our tax payers? The system Medicare, which is used to allow millions of Americans who are on fixed income the ability to enjoy a standard of living most would consider "lower middle class".

Or

A system of corporate welfare, where the taxpayers are bled dry to the tune of trillions all to fatten the paychecks of CEOs? Such a sick world we live in where the focus is on taking away from those who need it the most, while we ignore the main problem of giving away 100x that to those who need it the least but control the political process as well as the media.

Wake up people, stop fighting each other over "social welfare" and realize corporate welfare causes a much bigger burden to the taxpayers without any benefit to them. We need to stop being such sociopaths who can't handle seeing those in need "get a handout" when those who don't need "get many handfuls" from the same till.
Chris

Posted: Sep 05 2012, 11:22 AM

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Medicare is a welfare program to doctors and the health care industry, it's just the spigot is now running dry.

The problem with all these welfare schemes, from corporate welfare to social welfare, which is really also corporate welfare, is that they're funded through extortion. You cannot call something a "service" if you're forced to pay for it and thrown in jail and or shot if you refuse.

Government spending on the whole is the equivalent of going to Costco, then having the store charge your credit card against your will for all sorts of things you don't need, buying things for other people on your tab, all while holding you at gunpoint and telling you "if you disagree, then lobby to vote us out in two or four years."

Well, the tab is some $250,000 per person now, I think you'd have to be crazy to defend such a practice. How many people in their private lives take other people's credit cards, charge things to them against their will, then scold the person for complaining by saying "they need to sacrifice for the great good," meanwhile they keep running up your tab, and when you call the police, they come and beat you up and let them go free?


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