Wednesday, May 18, 2011

Redistribution of Wealth: The Ryan Plan


OK, I don't read everything, I admit. But I am pretty sure I haven't seen anyone else point out the fact that Paul Ryan's plan to privatize Medicare includes a redistribution of wealth.

According to the wonderful Kaiser Family Foundation:

Government contributions would be lower for higher-income Medicare beneficiaries: payments to plans would be reduced by 70 percent for beneficiaries in the top 2 percent of the Medicare population income distribution, and by 50 percent for those in the next 6 percent of the income distribution. Thus, government payments on behalf of enrollees would be lower for Medicare beneficiaries with relatively high incomes, resulting in these beneficiaries paying higher premiums.
Did you see that? The government would collect Medicare taxes from everyone but would limit the payout the rich people get. They'd pay more for the poor people.

I wonder what Joe the Plumber would think about that...

1 comment:

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