This administration's plan for Medicare takes $700 million of waste, fraud, overpayments to providers and hospitals and applies that to closing the $3,600 donut hole for seniors' medications, providing preventive and wellness checkups for seniors and saving Medicare 14 percent of future payments from taxes. This helps save Medicare for future generations.
The Ryan plan - backed by Romney - will change Medicare from the program it now is. Seniors will receive a voucher to buy their coverage in the inflated insurance market. With their repeal of Obamacare and the guarantee of insurance with pre-existing conditions, how much actual insurance will a senior be able to buy with a $6,000 voucher? This will affect those under 55 years of age now and does not provide for inflation, so you will have a decreasing percentage of your insurance vouchered.
The president's plan for Social Security - an investment plan we all pay into, not a government "entitlement" - would strengthen Social Security by requiring a bipartisan plan that will raise the cap on income from the current $109,000 limit so that those who draw the maximum will pay a little more into the system. Raising the cap during the next 10 years to $180,000 would preserve Social Security for our grandchildren and their grandchildren with reasonable cost-of-living increases. Those with incomes above $180,000 would have their withholding increased from $8,150 to $13,500 over 10 years.
The Romney/Ryan administration would privatize Social Security, turning it over to the same investment bankers whose greed and stupidity destroyed our economy in 2007. This would be the new Ponzi scheme with the results like Enron, Madoff's investments, J.P. Morgan's scandals the norm and deregulation being part of the scheme.
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