Buttigieg Is Trying To Buy The Votes Of Older Americans With Promises Of More Retirement Payments
On Monday Pete Buttigieg, a presidential candidate from South Bend, Indiana announced his plan to “promote dignity and security in retirement” by offering additional payments to retired Americans financed of course by imposing a payroll tax on wealthy Americans. The goal of Buttigieg’s plan is to secure the faltering social security system forever.
He claims that he had the idea after watching his father die this past January after being admitted to a hospital for an undisclosed illness. After a social worker explained to him that he should deplete his father’s assets so he can qualify for Medicaid Buttigieg claims he was wondering if that really is how the American Healthcare system is supposed to work.
As a result, the Buttigieg campaign published a plan to start Long-Term Care America. The plan calls for retired Americans age 65 or older to receive an additional payment of $90 per day to cover the costs of long-term care. Buttigieg claims that over 11 million are eligible for this additional payment.
Unlike many of the Democratic contenders for the presidential nomination, Buttigieg is trying to distance himself from the progressive calls for a Medicare for all plan that would destroy private healthcare in the United States. In contrast, Buttigieg suggests to not only leave existing private healthcare alone but also the Medicare Advantage program. The Medicare Advantage program allows seniors to expand Medicare coverage for a small supplemental payment and it is loved by many retirees.
But that’s not enough for the generous Mayor from South Bend. He is also proposing to raise the minimum payment for caregivers to $15/hour and allowing home-care workers to organize Unions. In effect, the Mayor is proposing to dramatically increase the costs of long-term care for seniors while at the same time offering an additional payment to sweeten the blow.
Still not enough? Of course not!
Buttigieg is further suggesting to help caregivers who spend their own time helping their loved ones by guaranteeing 12 weeks of paid family leave and allowing at-home caregivers to credit the time to their Social Security accounts. The proposal would force the Social Security administration to declare at-home unpaid caregiving as work and to offer credits toward future benefits.
Still not the end of Buttigieg’s generous proposal. To finance the additional spending he suggests to raise taxes on anyone earning more than $250,000 annually and he further pledges that he will protect social security forever by simply raising taxes on the wealthy whenever Social security is running out of money. As Social Security is already on the brink of insolvency this promise seems more like a threat to most of Americans.
But it does get better. Buttigieg also is suggesting that you should let the Government invest your 401(k) funds through a public option. Apparently he believes in the overwhelming success of everything the government touches (really) will ensure better returns than professionally managed funds. For the rest of us Americans, we really can’t envision the same bureaucrats we meet at the DMV will be capable of managing your money better than even just asking your cat for investment advice.
In his bid to buy the votes of retired Americans Buttigieg is “determined to usher in a new era for older Americans that upholds the unshakable promise that every American should be able to maintain a decent standard of living when they retire”
The US Census Bureau estimates that by 2035 older adults will outnumber children in the US. A historic first. And not coincidentally the Committee for a responsible Federal Budget is predicting that by 2035 Social Security will be insolvent.
Some of the other Democratic contenders have of course also proposed similar plans. All focused on taxing the wealthy to fund the ever-expanding social programs the left favors. Just remember that warren’s Medicare for all plan alone is estimated to cost over 52 trillion dollars over ten years and that’s just the beginning. Add to that free college tuition, student debt forgiveness, reparations for Native Americans and African Americans, a green new deal forcing the abolition of gas-powered cars and planes and the list goes on. It seems the list of social projects Dems want to fund with your money is never-ending.
However, not everyone is as pessimistic (or dare we say realistic) as we are. Dr. Mark Zandi, chief economist at Moody’s believes that Buttigieg’s proposal would actually save the country $1.2 trillion over 10 years if implemented. Zandi also claims that the suggested reform would prevent Social Security to go insolvent in 2035 and push back the date back to 2071. Does anyone know how to spell procrastination?