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Medicare: Did You Really Pay For That?

Bill258 Wrote: Mar 13, 2013 11:44 AM
If my Medicare taxes and premiums had been placed in a private account and earned 3.65% per year, my Medicare premiums and the interest during the period I have been on Medicare would have paid for my Medicare benefits. When I die, my heirs would receive $82,000. Instead, they will receive nothing from Medicare. newsandopinions dot net

Editor’s note: A version of this article first appeared at Forbes.com.

Last summer, Barack Obama riled a lot of entrepreneurs when he got carried away at a campaign event and told any American who had built up a successful enterprise, “you didn’t build that.” An even greater backlash awaits any politician who dares to tell Medicare recipients, “You didn’t pay for that”—for there are far more seniors than entrepreneurs in our country.

Time after time during Election Year 2012, seniors and near-seniors reacted to the slightest mention of Medicare reform with indignation and the emphatic insistence, “Don’t you...