Do you worry about your Social Security and Medicare?
TV Interviewer: Are you worried about your Social Security and Medicare?
Man1: Not particularly, because the risk of insolvency may seem a bit closer today than yesterday, but I have faith that the government can enact reforms to force through all that.
Woman 1: Absolutely.
TV Interviewer: How so?
Lady1: I don’t think it’s going to be there by the time I retire.
Man 2: A little, I won’t say a lot because I am sure that there will be some resolution to it.
Man 3: I wouldn’t say worried, I’m just not confident I am going to receive it. I am making other plans, that’s why I am not worried.
TV Interviewer: Would you prefer to see an increase in taxes or reduction in benefits to help solve this problem?
Man 4: Realistically I think it is going to have to be a combination of both. That the Americans that can most afford it need to have their benefits reduced, and perhaps the tax rates and some of the income levels that… like hedge fund managers that get theirs at a reduced rate of taxation… maybe should pay the full rate of taxation and Social Security.
Man 5: The reduction in benefits is probably going to be more feasible. I don’t know which, they’re both not a very good solution but, you know, of those two that’s the one I would prefer.
Woman 2: I think unfortunately an increase in taxes is the only answer.
Man 6: Probably a combination of both. Some decrease in benefits and some increase in taxes to pay for it. That’s seems to me like a reasonable solution.
TV Interviewer: Do you think we should revisit the idea of privatizing Social Security?
Lady 3: Ha, ha, ha. I don’t think we should revisit the idea of privatizing anything. The era of privatizing, of taking the responsibilities of government and farming them out to the lowest bidder who winds then jacking up the prices on the private citizen is just outrageous.
Man 7: Yes, I do think that despite the fact that the Bush plan was based on the assumption that stock markets would always rise, which turns out not to be the case, a system more based on individuals makes more sense.
Lady 4: Look what we’ve done on Wall Street and look at the mess we are in now. I don’t think giving it to individuals will help the situation any better.
Man 8: It hasn’t worked so well with the government so maybe we should give privatization a try.
What about our readers? Do YOU worry about your Social Security and Medicare? Post your comments below.
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