As the imminent collapse of Obamacare becomes more and more painfully clear, Democrats on Capitol Hill have been pow-wowing about transmutating the failed law into a fully government-run choiceless health control system, specifically, universal Medicare.
But, the average Medicare beneficiary receives three dollars in benefits for every dollar they contributed to the program.[1-3] Obviously, extending that to the entire nation is mathematically impossible: no program can pay three times as much in benefits as it receives in funding.
Further, all those funds ultimately come from taxpayers, either in federal income tax, or higher prices consumers pay on goods as a result of taxes on corporations. There is no free lunch.
And, if there’s any doubt at all remaining about Medicare’s efficiency, reading this one tiny provision of the law should settle that question permanently, in the negative:
This typical person paid around $64,971 in Medicare payroll taxes over his lifetime. Likewise, after netting out Medicare premiums, he’ll receive around $173,886 in lifetime Medicare benefits.