Tag Archives: Medicare
Remember the promise of a tax cut primarily for the middle class?
For many Americans that will be a lie, and retired seniors will be hit the hardest, despite the attempted sleight of hand numbers game that “gives” you about double the standard deduction, but doesn’t mention the loss of personal exemptions.
Even worse, the so-called reform means that a couple that used to itemize deductions above $12,700 (under 65) and $15,200 (over 65) will now have to wait until the itemization exceeds $24,000.
The table below shows the current income tax formula for a senior couple with the average Social Security benefit, plus a part-time job, and an RMD. (At age 70 1/2 the government forces you to take out part of your IRA and pay income tax on it every year. If you have stocks or bonds, they must be sold to satisfy the IRS, even if they lost value.)
This average senior couple will pay $1,506 income tax under current law without itemization.
Some might wonder about that tax on Social Security Continue reading →
$4,000 Wage hike “Fake News” from the White House – whatever happened to Trump promise of “no taxes for a couple earning less than $50,000”
UPDATE to April 2017 post, Russian Dossier with complete text: DNC and Clinton campaign paid for Fusion GPS report used by FBI to investigate President.
The following was emailed to me on Saturday from the White House.
TRUMP PENCE WEEKLY NEWSLETTER 10.21.17
TAX CUTS FOR REAL AMERICANS
President Trump is working harder than ever to bring tax reform to middle class Americans, including the biggest tax cut in American history. This week, the President took his case to conservative leaders, seeking their support in pushing Congress to pass a tax reform bill, he said, “We need…help…to get our tax cuts through the house, through the Senate, and to my desk for signature.” Now is the time for all Republicans in Congress and maybe even patriotic Democrats to come together and support major tax reform that will boost wages and deliver families a $4,000 annual pay raise. We must get Congress on board, in order to deliver tax relief to hard-working Americans. Call and remind your Representative and Senators to support the President’s Middle Class Miracle today.
Although I am retired and there is no boss to give me a pay raise, I imagined that, at least, my children and grandchildren would benefit, and perhaps send me a fancier birthday card or buy me a funny hat with all the extra cash in their checking accounts.
And after learning that I am a “Real American”, according to this government email, I wondered: “could this $4,000 pay raise be real?” I turned to YouTube, where your computer screen seems to come alive with the voice of Mr. Trump and Bill Nye, among others, and found the President making this same promise: Continue reading →
GOP House passes plan to raise Medicare eligibility age to 67, then turn it over to insurance companies
Time after time, Mr. Donald Trump promised no cuts to Medicare and Social Security, but the current leader of the nation and Republican Party now seems to have a change of heart – to put it very kindly – or he has just wandered even deeper into the swamp.
It could be the President is distracted by his fake plan to lower taxes for the middle class and so he hasn’t noticed the GOP-dominated House passed its 2018 budget resolution on Thursday by a vote of 219-206. The cunning House Speaker Paul Ryan led his swarm to approve cutting $1.5 trillion from Medicare and Medicaid. Eighteen Republicans voted against the resolution, along with all the attending Democrats.
Robert Roach, who heads the Alliance for Retired Americans, was furious at the news: Continue reading →
The Food and Drug Administration (FDA) last year had 4,036 generic drug applications waiting for approval. In October 2012, there was a backlog of 2,868 drugs. It now takes a median 47 months to approve a generic drug by the FDA – nearly four years.
What does this mean to the healthcare consumer?
First, it allows a drug company to continue selling their “brand name” drug because there is no replacement on the market. Brand name drugs are sold at incredible prices, pushed up by obscene profits, as well as constant advertising, plus promotion of drugs by medical professionals. To many in the health business, brand name drugs are the real money makers.
By comparison to the United States, the European FDA – the European Medicines Agency (EMA) – has just 24 generics awaiting approval. It takes about a year to get approval in Europe, one quarter the time of the U.S.
Why would it be faster to approve generics in Europe than here? The answer is that patients in America pay for their drugs, either directly or through health plan premiums. In Europe the government negotiates drug prices, because they are working to lower costs to benefit their citizens and reduce spending. It’s the difference between healthcare for profit or Continue reading →
71-year-old man shoots robbers at internet cafe in Florida
Last week, it became more dangerous to be old or disabled.
That’s because the Barack Obama brain trust ordained a rule that will force the Social Security Administration (SSA) to share records with the Department of Justice (DOJ) to look for so-called disabled or impaired individuals.
The government then decides whether or not to ban them from buying a gun.
The SSA maintains that “under our representative payee policy, unless direct payment is prohibited, we presume that an adult beneficiary is capable of managing or directing the management of benefits.” That means you better keep your checking account in your own name, and if you go crazy. just let someone handle your finances using only your name.
Alan Greenspan, former Federal Reserve chairman, current hubby of Andrea Mitchell (Hillary Clinton’s talking head at NBC), and long-time member of the Trilateral Commission, has a big problem
Al isn’t mad at the “pop” in pop-out-of-the-cake by some former girlfriend, like Barbara Walters. He sees a dangerous “pop”, the worst kind – the potential revolt of what he might call the “vast unwashed multitude of the deplorable and nonredeemable.”
Google identifies the threat to Al this way: Continue reading →
Gary Johnson wants to cut 43% from Medicare and the Defense Dept., end the senior drug benefit, eliminate student loans, and stop taxing the rich
Is the grass always greener?
It was a simple question to Gary Johnson in a 2012 interview, while running for President as the Libertarian candidate: How do you stop the deficits and out of control spending?
The answer from Johnson, who is currently managing 6% to 10% voter support in national polls:
A: Well, cutting $1.675 trillion from the federal government. You got to start out by talking about (cutting) Medicare and Medicaid by 43 percent. They could block grant the states, 50 laboratories of innovation. Give it to the states to deliver health care to the poor and those over 65 and do away with the strings. Do away with that regulations; let states handle it. There would be best practices emerge. Other states would emulate the best practices. They’re be failure. States would avoid the failure.
Johnson also wants to eliminate the Federal Income Tax, which would require huge program cuts in the federal budget to pay for it. His revenue solution would be a national 23% sales tax, plus virtual elimination of the earned Medicare benefit (now paid for by workers with a payroll tax). Continue reading →
UPDATE: (July 23, 2016) Rumors swirling today that Jeb Bush may announce that he will vote for Gary Johnson, joining the smoking car on the Libertarian train to nowhere No word yet from Bush the elder, Bush the brother or mama Bush.
Former Republican Presidential nominee Willard Mitt Romney said recently he would not vote for presumptive nominee Donald Trump in the general election in November and would consider voting for Libertarian candidate Gary Johnson.
Romney’s running mate in 2012, Paul Ryan, has also been described as a Libertarian, although he votes as a Republican. His consideration to vote for Johnson, Romney explained, is because he doesn’t regard Donald Trump as a true conservative. Johnson ran against Romney in 2012 for the nomination.
Here’s what “true conservative” Gary Johnson believes, gleaned from press interviews: Continue reading →
Leave it to the scions of Washington D.C. to break up middle class marriages.
Under current law if your spouse enters a nursing home, both of you are obligated to pay for care. With an average Social Security check at about $14,000, the cost of a nursing home is impossible to pay out of current income. Most folks dip into savings.
But even a family with say, $400,000 saved over a lifetime, will see that money rapidly disappear because nursing home care is not covered by Medicare. You have to pay 100% of the costs.
To give you better sense of these expenses the states with the most expensive median annual rate for a single person’s private room bed in a nursing home:
- Alaska – $259,515
- Connecticut – $158,775
- Massachusetts – $139,430
- New York – $136,510
- Hawaii – $135,050
The states with the least expensive median annual rate for a single person’s private room bed in a nursing home:
- Oklahoma – $60,225
- Missouri – $60,955
- Louisiana – $62,050
- Kansas – $65,700
- Arkansas – $65,700
Double all the above numbers for two persons.
The table below shows the range of costs by state in 2015 of the daily rate for a private room. Continue reading →
Cut Medicare and Social Security Club is back again – this time pointing its daggers at Donald Trump
The Committee for a Responsible Budget (CFRB) is at it again in their quest to cut Social Security and Medicare. Cloaked behind a lace curtain of “bipartisan” concern, the committee includes impotent deficit hawks, sharks and other carnivores of ill repute.
Of course, at the top of the list is Pete Peterson, a very, very old creature and to his fellow seniors, certainly very, very cold and calculating. This Wall Street darling, founder of the Blackstone Group (about $7 billion annual income), is former chairman of the Federal Reserve Bank of New York, chairman emeritus of the Council for Foreign Relations, founder of the Concord Group, and former CEO of Lehman Brothers (John Kasich’s prior employer). With that background he deserves the Establishment+ designation.
If you watch tv you have probably noticed ads from Fix the Debt, which was founded in 2012, funded by Peterson and multiple CEOs and corporations. Fix the Debt is calling for a grand deficit bargain to be reached by reducing taxes on the wealthy, and cutting Medicare and Social Security by raising eligibility ages for both and reducing benefits.
Enter Stage Right Donald Trump. Continue reading →