When politicians throw around “free” there are people who accept that literally. In our current debate on M4A that free word pops up frequently, what do you think it means?
I was listening to a radio talk show today and a caller asked how soon after M4A was passed would he get his refund.
“What refund,” the host asked. “They keep saying it’s all going to be free and since I have been in Medicare for ten years, aren’t I going to get a refund for all the premiums I’ve paid?”
I wonder if he realized the typical Medicare beneficiary pays only 25% of the cost of Part B, and Part D and that working Americans pay a 1.45% tax on all wages plus 0.9% on wages in excess of $200,000 for the balance of all costs. And, oh yes, a portion of the income taxes paid on Social Security benefits also goes to Medicare, but all of it is not sufficient to keep the Trust solvent.