Saturday, April 30, 2011

NPR: Medicare's Math Problem, $100k IN and $300k OUT

There's a reason system current system is unsustainable, says Eugene Steuerle, a former Treasury Department official and senior fellow at Washington's Urban Institute. He boils it down to two simple numbers.

"An average couple retiring today has paid just a little over $100,000 in Medicare taxes" over the course of their working lives, Steuerle tells Guy Raz, host of weekends on All Things Considered.

And what do they receive?

"About $300,000 in benefits" — even after adjusting for inflation.