Solving The SS and Medicare Problem Painlessly

I was watching an old recording of Ben Stein and realized that he had half of the solution to the problem of our Social Security and MediCare bankruptcy problem. We all know that within just a few years, if we do nothing, they will both be bankrupt and the people will then become the slaves of the government who will just print money to fill our pockets...until the whole stack of cards comes tumbling down and our society degenerates to a free for all like the French Revolution or the current Greek situation.

Well when I realized the Ben Stein had half of the solution I just put a little thought into it until I came up with the total solution. Ben's part, and I really am not a fan of Ben Stein, is really the largest part, I am just contributing a small push to get it going. AND....it might actually be something that could pass both houses and become law.

Ben said, that maybe we should not pay Social Security and Medicare to those that are wealthy enough that they don't really need it. Thats a real radical idea, but one that both the Left and the Right can get their arms around. Since the left see the "rich" as undeserving, and the right are for fiscal responsibility, maybe this would fly.

If you limit SS and MediCare payments to only those that have an income below $xxx,xxx thousand a year. Hey, you can pick the number, I don't care, any number will work as you will soon see. But after a few months of haggling I am sure a number could be found. Once the number is found, just pass the law.

Then with a standard, average inflation rate of 6% (historically probably reasonable) in 10 years there would be 50% fewer people receiving these benefits. In another 10 years there would be another 50%, or 25% of the original number, fewer receiving these benefits. Inflation would slowly but steadily reduce the number of recipients. At the same time, the taxes to support it would be increasing because of inflation.

This would be a gradual weaning of the public off of assistance and slowly return them to self reliance, as they were before 1929. Where they were for 150 years, before the advent of the "Progressives".

It would be painless and would probably even accelerate because politicians would begin to realize that they could steal more of the public money if they lowered the cap level, which they would then proceed to do every session.

Jim Isbell
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