How Much Would You Pay For Better Medicare?

About two weeks ago I received my Social Security statement in the mail – you know, that bland-looking government document that’s an accounting of lifetime earnings, how much Social Security and Medicare taxes have been paid into the system, and, most importantly, what percent of an individual’s income goes to fund the retirement and health care programs.

Photo by Flickr Creative Commons User SqueakyMarmot

Photo by Flickr Creative Commons User SqueakyMarmot

In my case, I currently pay 6.2% of my salary in Social Security taxes and 1.45% in Medicare taxes. My employer pays the exact same percentage– 6.2% and 1.45% —  into each program.  Regardless of who you work for or who your employer is, those percentages are the same.  Self-employed individuals, however, pay both the employer’s and the employee’s portion, bringing the total to 12.4% to Social Security and 2.9% to Medicare.

There’s been a lot of talk during the health reform debate about raising taxes to pay for more benefits, and to ensure that more Americans get coverage.

Taking a hard look at how much you actually pay into Medicare, how much more would you be willing to pay for a better system? (Let’s not even discuss the need to raise more revenues to avert what is foreseen to be an-almost imminent bankruptcy of the Medicare program.)

Or, do you think you should be paying less now?

—Alicia Ault (on Twitter @aliciaault)

2 Comments

Filed under health reform

2 responses to “How Much Would You Pay For Better Medicare?

  1. I’d certainly pay more, just so long as the government stays out of my Medicare!

    ; – >

    David Janus
    Twitter: @dsjanus
    totalrewards.wordpress.com

  2. LLUIS BOIX

    About the debate “Reform Health Care in USA”
    Alice Ault said in the Blogg;

    -In my case, I currently pay 6.2% of my salary in Social Security taxes…-

    First of all, I currently I am paying the 4.7% of my gross salary in Social Security taxes. I’m living in Barcelona ( Catalonia) SPAIN and I’m paying these taxes from the first day I started to work, 1st November 1979. I’m not a rich man. I am a Worker.
    I was born with a serious cardiac illness. In March of 1993 I was needed a cardiac surgery for my illness. I went in a public hospital in Barcelona, Sant Pau’s Hospital in Barcelona. I spent one month on this center, the operation was not easy, my heart was take out from my chest and in the meanwhile I was connected in a “extracorporeal” an expensive medical machine.

    Secondly, the operation was completely satisfactory and successfully. I didn’t’ pay any euro (dollar) for the Operation, and I can assure you, It was very expensive. Now I’m alive, I have two Degrees from the University of Barcelona and I’m still working and paying this Social Security taxes (and others). Doctors who care of me (Dr. Caralps and Dr. Subirana) and all their Team still working on this public Hospital and attending cases like me. I’m proud of this System.

    Finally, for those who no believe on the Obama’s Reform Health Care in USA. If I were American, now I was dead.

    The Health Care must be attended by the Public Authorities, otherwise, a lot of innocent people in America will be unattended, and this is a shame for the , supposed, 1st Country in over the World.

    American people don’t deserve this.

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