MORE THAN $719 BILLION will be taken from Medicare over the next ten years to pay for Obamacare. According to Rep. Wally Herger, Chairman of the House Ways and Means Subcommittee on Health, the Independent Payment Advisory Board established by Obamacare is authorized to unilaterally impose price controls and de facto rationing of medical care.
Medicare is already in trouble. Taking $719 billion over ten years from Medicare to fund Obamacare will exacerbate financial problems. Medicare benefits are not a return on taxes paid into the system over time because Medicare is run as “pay as you go” – today’s wage earners pay taxes to fund benefits for today’s retirees. Since people live longer, “Medicare payroll taxes cover only 38 percent of current benefits.” (Rep. Wally Herger) – Dr. Ileana Johnson Paugh, Canada Free Press