Finance Readers Comments

The Poor Get Poorer

“THE RICH GET RICHER AND THE POOR GET POORER”

Consider the poor when raising Medicare payments.

Preliminary figures show that the monthly Medicare premium will again increase so much that it will wipe out the annual cost of living increase for approximately the lowest 30 percent of recipients.

I am one of them. Three years of this in a row is too much.

It seems to me that, to be equitable, the monthly premium should be a percentage of one’s Social Security income. At 10 percent, recipients under $900 would get a break while those above that amount would pay more.

Those receiving the maximum Social Security benefit would pay considerably more for Medicare, but they are the folks who had high income and permanent employment with company pensions attached. They would also have been able create investment income, property income and the like.

The increased Medicare premium to them would be inconsequential.

However, low income people, part time workers, etc., would never be able to create any additional income and the current $88.50 a month deducted from their Social Security checks is devastating. To think that that figure will increase again in 2007 and again wipe out the cost of living adjustment is not right and should be corrected.

Walter T. Hansen

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