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curl-6 said:
Mr Puggsly said:

"In a ponzi scheme new investors are acquired to funnel profits to old investors." That's actually exactly what's happening with medicare. Again, the "old" are getting much more than they put in and the "new" pay to keep it afloat. Here in the US it starts at 65, but people weren't expected to live much longer than that when it was designed.

Taxes on medicare and social security have frankly not increased enough based on trends. The only tax increases that are popular though are on the rich. There is also the argument retirement age should be increased. Obviously that's not a popular thing for a politician to suggest. Given those circumstances its a popular system, but may lose some praise if taxes increased.

So again, just clarifying its a popular system that's arguably undertaxed and at this point very funded by the "new." Also, its not like medicare money is just sitting around. The "new" have to pay for it. Which is why I use the term ponzi scheme.

The new benefit just as much from it when they need it though, unlike in a Ponzi scheme where new investors do not get a fair share of the benefits.

If you get injured in a car crash at age 18 or are born with a lifelong congenital disease, you still get the full benefits. When I got cancer at age 30 I didn't have to go broke or go without treatment as a low income earner because of it.

I tend to be a bit pessimistic about programs run unsustainably. At some point the "new" are gonna have to get hit with a large tax increase. While the "old" will say, "I am entitled because I paid!" Hence, its not gonna be fair at this rate because the old are getting more than they put in, the new will pay more because the program is no longer sustaining itself. We are already at that point by the way, there just hasn't been a tax increase.

Medicaid and social security are different. I'm fine with safety nets for people that truly need them. Primarily if they have real problems, not just a series of dumb life choices. I want people with cancer and other serious conditions to be socialized for the poor. It would take only fraction to pay for that versus every little need that many working people could pay out of pocket. Everybody needs the small things, but a much smaller number of people need help with bankrupting medical issues.

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