Romney-Ryan Medicare Plan Would Cost 29-Year-Olds $331,200

Romney-Ryan Medicare Plan Would Cost 29-Year-Olds $331,200: Report

If Mitt Romney and Paul Ryan have their way, then Americans of all ages may be spending more on health care during their retirement.

If Romney becomes president and repeals the Affordable Care Act as promised, then retirement would cost $11,100 more for the average 65-year-old and $18,600 more for the average 55-year-old because of higher Medicare premiums and drug costs, according to a report from Harvard economist David Cutler, an Obamacare architect, and the Center for American Progress.

What's more, seniors on Medicare who depend on Medicaid would need to pay more than $2,500 more per year because of planned Medicaid cuts.

Romney's plan would cost younger Americans even more, since Romney and Ryan want to turn Medicare into a voucher system for Americans under 55 for when they qualify for Medicare. The report estimates that 48-year-olds would have to pay $124,600 more for Medicare during retirement under Romney's plan, 39-year-olds would have to pay $216,600 more during retirement, and 29-year-olds would have to pay $331,200 more during retirement in total. That's because the vouchers would not keep up with rising health care costs. For those 29-year-olds, the extra costs would consume 62 percent of their lifetime Social Security benefits.

http://www.huffingtonpost.com/2012/08/2 ... f=business

Oh, THANK YOU, MITT/RYAN!!! Just think of all the wonderful benefits they will provide us...

All you have to do is be born rich, or be one of the .0000016 percent of people that start a business and get rich, and you're taken care of...And if you're one of the other 300million people, you're screwed.

Social Darwinism at its finest. The knuckle-draggers must be so proud....

...(Oh, and it's from the Center for American Progress...which I realize renders it totally irrelevant to you... I'll get over it... )

Let me know if you get a tweet about it.... I wouldn't want to miss any important information...

Time value of money? $331,200 won't look as crazy in 40 years as it does now.

Inflation, remember the Carter years?

And personally I would distrust any predictions for 40 years in the future. When they were predicting how much Social Security would need in the 1930's, most people didn't live beyond 65 and now you have the average living to 78.

Obama's team wasn't able to predict the correct rate of unemployment in 2012 when he was elected.

Health costs are going to change regardless of the plan. If a voucher plan adds that much $$, then medicare would also cost that much more (even more, since choice and competition wouldn't factor in). Where do you think the $$ are coming from??

Payroll deductions and paid taxes...like it always has. (Unless, of course, you are Mitt Romney, then the idea of paying into the system doesn't enter into it.)

RenegadeCJ wrote: Health costs are going to change regardless of the plan. If a voucher plan adds that much $$, then medicare would also cost that much more (even more, since choice and competition wouldn't factor in). Where do you think the $$ are coming from??

Don't confuse LJ with math and money questions, we already had that exercise once on another thread, and it didn't go very well.

She really needs to take a finance course. No wonder she is a Dem. Simply doesn't understand money.

DEFLECTORS ON MAXIMUM, Scotty!

Gee, in the same day someone can be worried about those poor bank-employees that might get let go because of "youthful indiscretions" ... and basically tell all of the 20-30 year olds "f**k you", because it fits with the TeaHadists narrative...

I love it... rofllol

OK, quiz, what is the present value of the $331,200 at a moderate 3% interest rate over the next 40 years?
I think you will be surprised how little it would be.

Yeah, screw 'em... As long as the tax-avoiders, tax-cheats and TeaHadists don't have to pay into the system, let the Social Darwinism cull out the sick and weak.

"Let the bastards freeze in the dark." That's their answer to everything...

I was right...Pond scum and anthrax ARE higher life-forms on the evolutionary scale.