Over the years, I’ve anteed about $250,000 into the Medicare tax kitty.
And, you may have thrown in more than you think!
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Motivated by Medicare for All hype coming from far-left-leaning Dems presidential candidates, I finally took a serious look at the buckos that I’ve thrown into the Medicare kitty over the years.
I’d like to say that I was surprised, but I really wasn’t.
Here are the details…
After paying Medicare taxes for years, weren’t the benefits supposed to be free?
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Yesterday, we argued that Medicare’s payroll taxes can thought of as prepaid premiums … that amortize to the equivalent of $10,000 per year over a retiree’s post-65 life span.
See Ouch: The (personal) economics of Medicare payroll taxes
And, we pointed out that the prepaid premiums are just the tip of the iceberg.
Once retired, the Feds collects additional annual Medicare premiums.
This may surprise pre-retirement folks who think that they pay in during their working years, but then get “free” healthcare insurance when they retire.
![image_thumb[3]](https://homafiles.info/wp-content/uploads/2019/03/image_thumb3.png "image_thumb[3]")
After
Today, let’s take a look at Medicare premiums…
Last week, we asked: if increasing the number of well-paying manufacturing jobs is important — then rather than the usual proposed bromide of just cutting corporate taxes across-the-board, why not offer employers a double tax deduction for workers’ wages earned in the U.S.?
Here’s a complementary idea (to doubling the wages deduction) that might be worth worth considering …
The Homa Files 