Question

In: Economics

Research the current debates from the past 6 months about Social Security and Medicare. Identify one...

Research the current debates from the past 6 months about Social Security and Medicare. Identify one issue in the Social Security or Medicare debate and discuss two changes that would help address the issue you have identified.

Solutions

Expert Solution

First of all we need to understand the principles of both social securiry and medicare. Both are an important concern.

The principles Medicare is based on are:-

1. It should access to high quality facilities.

2. Maintain reasonable choice.

3. Easy affordability.

4. Effective health care and long term coverage.

The principles of Social Security:-

1. Should be long term or durable.

2. A balance relationship between employees, government and individuals.

3. Provide special attention towards retired income group.

4 More benefits to the needy like benefits related to earning etc.

Now there gad been numerous debates related to social security and Medicare.

One current issue we would discuss will be based on the political reasoning. How they influenced these factors.:-

1.They don't look for benefits cuts.

2.Majority opposed for the cuts in benefit. They see benefiting more to the retired not focusing on the workers.

3. People are readily to pay taxes for stronging the social help.

4.Marco Rubia claims says that there will be no social security or medicare if we don't cut benefits.

5.Both social security and Medicare originated from the large section of legislation or government.

6. These two factors had been attacked since a long period of time. In 1935 it was signed in the law. Medicare was enacted in 1965. During this time the Democrats controlled all the power. All along the way it was highly opposed by many. They faced the problem of collecting payroll taxes. However social security became virtually unassailable.

The changes we can expect are as follows:-.

1. More encouragement from the political parties to strengthening social security and Medicare.

2.They can cut taxes and balance the benefits.

3. They need to change the growth of benefits to meet the steady growth of inflation.

4. The state level governors or the legislation should accept the stabilization or expanation of medicare facilities with affordable care.


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