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Medicare Tax not raised since 1986.... #4615596
12/27/17 10:12 AM
12/27/17 10:12 AM
Joined: Mar 2008
Posts: 6,129
Michigan
ZZman Offline OP
ZZman  Offline OP
Joined: Mar 2008
Posts: 6,129
Michigan
Did you know that the tax for Medicare has not been raised since 1986? Obviously this is a problem when the baby boomers have been retiring in huge numbers and people live longer and have more expensive medical procedures and medicines.


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Re: Medicare Tax not raised since 1986.... [Re: ZZman] #4615621
12/27/17 10:35 AM
12/27/17 10:35 AM
Joined: Dec 2003
Posts: 9,918
Florida, Cape Coral
Eddie Offline
Eddie  Offline
Joined: Dec 2003
Posts: 9,918
Florida, Cape Coral
Tax for Medicare? Please explain.


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Re: Medicare Tax not raised since 1986.... [Re: Eddie] #4615624
12/27/17 10:37 AM
12/27/17 10:37 AM
Joined: Mar 2008
Posts: 6,129
Michigan
ZZman Offline OP
ZZman  Offline OP
Joined: Mar 2008
Posts: 6,129
Michigan
Originally Posted By: Eddie
Tax for Medicare? Please explain.


2.9% of income is subject to MC tax to pay for program.

Last edited by ZZman; 12/27/17 10:39 AM.

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Re: Medicare Tax not raised since 1986.... [Re: ZZman] #4615629
12/27/17 10:43 AM
12/27/17 10:43 AM
Joined: Nov 2009
Posts: 5,123
Houston, Texas
motor_oil_madman Offline
motor_oil_madman  Offline
Joined: Nov 2009
Posts: 5,123
Houston, Texas
You realize that 15.3 percent of your salary pays for social security and Medicare? Yes your employer pays half of that but that's still more money they could be paying you.


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Re: Medicare Tax not raised since 1986.... [Re: motor_oil_madman] #4615654
12/27/17 11:07 AM
12/27/17 11:07 AM
Joined: May 2010
Posts: 2,114
Illinois, U.S.A
RamFan Offline
RamFan  Offline
Joined: May 2010
Posts: 2,114
Illinois, U.S.A
Originally Posted By: motor_oil_madman
You realize that 15.3 percent of your salary pays for social security and Medicare? Yes your employer pays half of that but that's still more money they could be paying you.


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Last edited by RamFan; 12/27/17 11:07 AM.

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Re: Medicare Tax not raised since 1986.... [Re: ZZman] #4615659
12/27/17 11:10 AM
12/27/17 11:10 AM
Joined: May 2014
Posts: 3,826
Columbus,Nebraska
Yah-Tah-Hey Offline
Yah-Tah-Hey  Offline
Joined: May 2014
Posts: 3,826
Columbus,Nebraska
It wouldn't take much of a FICA increase to secure SS for decades to come. I paid into FICA from my first paycheck to the last paycheck and now I enjoy the benefits.The system needs to be more closely monitored because it is being egregiously abused by medical providers billing Medicare for services not rendered. In my opinion, chiropractors are the worst of the bunch.

Re: Medicare Tax not raised since 1986.... [Re: motor_oil_madman] #4615661
12/27/17 11:10 AM
12/27/17 11:10 AM
Joined: May 2015
Posts: 2,008
America
Alfred_B Offline
Alfred_B  Offline
Joined: May 2015
Posts: 2,008
America
Originally Posted By: motor_oil_madman
You realize that 15.3 percent of your salary pays for social security and Medicare? Yes your employer pays half of that but that's still more money they could be paying you.


Up to 110k of earnings. Higher earners don't pay this tax.

Re: Medicare Tax not raised since 1986.... [Re: ZZman] #4615688
12/27/17 11:43 AM
12/27/17 11:43 AM
Joined: Jan 2006
Posts: 744
Los Gatos CA
djb Offline
djb  Offline
Joined: Jan 2006
Posts: 744
Los Gatos CA
Basic question: if a tax is a percentage, why would you expect the rate to increase? The adjustment for inflation and wage inflation is already built in. The expectation should be that as things become more efficient, the rate should decrease rather than decrease.

Re: Medicare Tax not raised since 1986.... [Re: Alfred_B] #4615693
12/27/17 11:48 AM
12/27/17 11:48 AM
Joined: Apr 2015
Posts: 180
Houston, TX
czbrian Offline
czbrian  Offline
Joined: Apr 2015
Posts: 180
Houston, TX
Originally Posted By: Alfred_B
Originally Posted By: motor_oil_madman
You realize that 15.3 percent of your salary pays for social security and Medicare? Yes your employer pays half of that but that's still more money they could be paying you.


Up to 110k of earnings. Higher earners don't pay this tax.


High earners do pay the tax... just on the first 110k of income. If you make 200k, 90k is not subject to the tax.

Re: Medicare Tax not raised since 1986.... [Re: ZZman] #4615702
12/27/17 11:56 AM
12/27/17 11:56 AM
Joined: May 2017
Posts: 50
Tennessee
OTCW Offline
OTCW  Offline
Joined: May 2017
Posts: 50
Tennessee
The rate hasn't changed, but the gross amount collected has gone way up since 1986. People make way more than they did then. 2.9% of what I make now is much more than 2.9% of what I made back in 1986.


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Re: Medicare Tax not raised since 1986.... [Re: djb] #4615704
12/27/17 11:57 AM
12/27/17 11:57 AM
Joined: May 2015
Posts: 2,008
America
Alfred_B Offline
Alfred_B  Offline
Joined: May 2015
Posts: 2,008
America
Originally Posted By: djb
Basic question: if a tax is a percentage, why would you expect the rate to increase? The adjustment for inflation and wage inflation is already built in. The expectation should be that as things become more efficient, the rate should decrease rather than decrease.



Real wages have been stagnant for a long time, i.e. wage increases are at inflation rate in the long run, while the medical expenditure increases have outpaced inflation as the pool of eligible persons increases, the comorbidities become complex and people with chronic illnesses have a prolonged life spans.

Re: Medicare Tax not raised since 1986.... [Re: Alfred_B] #4615727
12/27/17 12:31 PM
12/27/17 12:31 PM
Joined: Jun 2003
Posts: 10,534
Illinois
javacontour Offline
javacontour  Offline
Joined: Jun 2003
Posts: 10,534
Illinois
Originally Posted By: Alfred_B
Originally Posted By: motor_oil_madman
You realize that 15.3 percent of your salary pays for social security and Medicare? Yes your employer pays half of that but that's still more money they could be paying you.


Up to 110k of earnings. Higher earners don't pay this tax.



They don't pay the social security portion, but I don't think the Medicare portion phases out.


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Re: Medicare Tax not raised since 1986.... [Re: RamFan] #4615731
12/27/17 12:33 PM
12/27/17 12:33 PM
Joined: Nov 2009
Posts: 5,123
Houston, Texas
motor_oil_madman Offline
motor_oil_madman  Offline
Joined: Nov 2009
Posts: 5,123
Houston, Texas
Originally Posted By: RamFan
Originally Posted By: motor_oil_madman
You realize that 15.3 percent of your salary pays for social security and Medicare? Yes your employer pays half of that but that's still more money they could be paying you.


popcorn popcorn2
crackmeup crackmeup crackmeup

In before the lock.




Yes sir. I wanted to squeeze that one in there. Lol


2007.5 dodge cummins 6.7 liter. Chevron Delo400 15w40. 7000 mile or 250-300hr intervals.

Re: Medicare Tax not raised since 1986.... [Re: ZZman] #4615732
12/27/17 12:34 PM
12/27/17 12:34 PM
Joined: Nov 2009
Posts: 5,123
Houston, Texas
motor_oil_madman Offline
motor_oil_madman  Offline
Joined: Nov 2009
Posts: 5,123
Houston, Texas
Also if you're self employed you get to pay the entire 15.3 percent


2007.5 dodge cummins 6.7 liter. Chevron Delo400 15w40. 7000 mile or 250-300hr intervals.

Re: Medicare Tax not raised since 1986.... [Re: ZZman] #4615744
12/27/17 12:47 PM
12/27/17 12:47 PM
Joined: Oct 2014
Posts: 1,074
SW Ontario Canada
KGMtech Offline
KGMtech  Offline
Joined: Oct 2014
Posts: 1,074
SW Ontario Canada
AARP works as a very effective lobby group. No politician wants war with these active, voting citizens.


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