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I can't remember when you were so absolutely wrong. Social Security is funded by FICA.
Multiple Choice: FICA is an abbreviation for
a) Final Initial Charge Attire
b) First Island Chemical Attack
c) Fine Illogical Carbon Abode
d) Federal Insurance Contributions Act
d) Is the correct answer. Social Security is an insurance plan, not an investment, a lottery, a ponzi scheme, para-mutual betting, or investment in the sport of kings.
So why didn't the D-e-m-s structure the premiums to pay for their Health Insurance Reform the same way as they structured the FICA / MC (contributions /taxes), and therefore avoid all controversy, including the possibility that the courts will rule the Healthcare Reform Act unConstitutional?
Why didn't the Dems just add another 10% payroll tax to pay for everybody's healthcare preimums, like they have already done for FICA / MC?
I think you know the answer as well as I do: The Dems have not added the taxes to pay for the program because they know that the people won't pay them. In fact the Dems have just repealed the Social Security tax that people were already paying.
Since the Dems have avoided structuring the Healthcare Reform Act in the same way that they structured Social Security and Medicare taxes they will have to run the risk of having the Supreme Court rule it unConstitutional.
>>>> . Social Security is an insurance plan
Social Security - it realy is insurance providing a supplemental retirement plan. As I said before I am retired. and get my SS check every month, always ontime; no problems. I am more concerned about the retirement income I get from HP.
Here's the real question, though. According to Gertie, who seems to have knowledge of healthcare insurance, the typical value of insurance provided by private companies is $13,000 per family per year. (If I remember correctly she quoted from a study by Kaiser Insurance). The number sounds exactly right to me based on the premiums I've been quoted by Humana.
The monthly premium for Obamacare is going to be $8,800 a year for families earning $88,000. Families earning less than $88,000 will have part of it paid for the government.
So here are some questions:
1. Why would any company continue paying $13,000 to provide for insurance when the employer can buy it for $8,800? The economic logic would be for private employers to drop their company plans and give their employees an $8,800 pay increase to buy their own insurance.
Nothing wrong with that in principle except that the government is promising to provide the same level of service for $8,800 that the private sector provides for $13,000. When has government EVER provided a service for less cost than the private sector?
2. The government is going to subsidize the insurance for any family earning less than 4x poverty, which is $88,000. A family earning $44,000 is going to receive a 50% subsidy from the government, which will cost the tax payers $4,400 per family per year.
3. There are A LOT of families earning $44,000 or less per year. Some are on Medicare and some are on Medicade, but according to the D-e-m-s on statistics there are about 50 million people who aren't currently covered by any government program. Let's say that comes out to 20 million familes. Paying $4,400 to subsidize each one is going to add $88 billion to the federal budget right away.
So right off the bat we have a couple of holes in the program:
The government says that it can replace private sector programs that cost $13,000 per family with a government-mandated program that costs $8,800. That's about a 40% discount from the private sector.
The government says it's going to subsidize the cost for all families earning lexx than 4x poverty, which is most families.
There is simply no way that this program is going to be paid for. It's impossible to fund it without either creating a VAT tax or an additional payroll tax to sit on top of Social Security and Medicare.
Now, didn't the Libs just scream "bloody murder" at Herman Cain's proposed 9% VAT?
Didn't the Dems just suspend the Social Security tax because it was a drag on the economy?
And now they want us to believe that they are going to pay for the largest social welfare program in history without raising taxes on "working families?"
This is one of the biggest lies that has ever been told to the American people. It is going to haunt those who propagated the misinformation for the rest of their political lives.