Under 55 Year Olds: Find $182,000 Before You Retire to Pay for the GOP Plan to End Medicare

Under 55 Year Olds: Find $182,000 Before You Retire to Pay for the GOP Plan to End Medicare

WASHINGTON, D.C. – A 54-year-old today will have to save an additional $182,000 in their IRA or 401(k) before he or she retires just to pay for the House Republican plan to eliminate Medicare, an analysis released today by U.S. Rep. George Miller (D-CA) found.

The Center for Economic and Policy Research (CEPR) estimated that individuals born in 1957 would need $182,000 by the time they retire at 65 to pay the additional costs imposed by the Republican plan if they live to 84. The analysis was included in a letter to Rep. Miller.

“Under the Republican plan, seniors will go into debt. They will be forced to sell their homes that they spent a lifetime paying off. And they will have to rely on their children just to pay for basic medical care,” said Miller. “This is not what anyone would envision as a dignified retirement.”

Last month, House Republicans voted to end the Medicare program, which offers guaranteed benefits, and replace it with a plan that would force seniors to find private insurance with the assistance of a voucher. Since the voucher’s value relative to health care costs would decrease over time and private insurance costs are higher than traditional Medicare, seniors retiring in 2022 under the Republican plan would be forced to pay much higher costs than under current law.

http://democrats.edworkforce.house.gov/newsroom/2011/05/under-55-year-olds-find-182000-1.shtml

knowing the democrats they will ignore it.

And sympathizers to that "cause"

EDIT: Of course, that is the subtext there.

They're sticking it to us again! He said.

This is all an effort to divide and conquer. The Repubs are going to scare the Senior vote into thinking this is the best deal they can get.

Post the link on Face book, and any place else you can think of. Send it to friends, relatives, etc...

If the Demo Congesscritters don't want to use it, we need to do their job for them.