Hey, who's this FICA guy?

On a TV comedy show one of the comedians said, "I just got my first paycheck...boy this is great huh?" Then after examining their pay stub, they asked, "Hey how come I gotta pay this FICA guy...who's he?"

That's great for comedy, but there are still many Americans  that do not understand the Federal  Insurance  Contributions  Act (F.I.C.A.), and how it affects them, and  what  will  F.I.C.A.'s effect on the upcoming election.

Seniors have been paying into F.I.C.A. since their first working day. I'm 77 years of age, and paid into the program since I was in my teens. I must write that I was proud to do it while feeling that one day I would be rewarded. I'm proud and happy to write today I feel rewarded.

For all seniors now receiving a Social Security check each month the fact is 12.4% of your paycheck was payroll deducted for future Social Security payments. Also, 2.9% was deducted for future Medicare health insurance coverage. In addition employers were mandated to match these payroll deductions to Social Security and Medicare.

Now, President Obama wants to insure over 30 million Americans who do not currently have health insurance. Where are the funds coming from to cover the cost of health insurance for these 30 million? Of course it's coming directly from seniors now receiving a monthly Social Security check starting in 2013.

Yes, in order to pay for health insurance for the 30 million will come from Medicare to the tune of $716 Billion dollars effective in 2013.  Simply, this means the Medicare deductions from the seniors' monthly payment will be increased.

Under the Romney-Ryan plan any American over the age of 55 will not be affected by any plan, and will stay under the current plan, and there will be no increase in Medicare deductions, and $716 Billion dollars will NOT be robbed from Medicare to pay for the uninsured 30 million Americans who currently do not have health insurance.

Furthermore, any American under the age of 55 will have ten years to have the option of keeping their Medicare coverage as it is currently, or they may "voucherize" their Medicare, which would increase competition among health insurance providers outside of Medicare.

In addition, the Medicare chief actuary, Richard Foster, has reported that under President Obama's health insurance plan of robbing $716 Billion dollars from Medicare, "approximately 15% of hospitals and nursing homes will become unprofitable over a decade".

President Obama has called the Romney-Ryan plan a "snake oil" approach to seniors, and would cost seniors an additional $6,400 per year in Medicare payments. Of course this is not true, but the President wants you to believe it so he can cover up his $716 Billion dollar robbing of our current Medicare. 

We currently have our worst economy since the depression, which is led by a $16Trillion dollar national debt, unemployment at 8.2%, and an ever increasing first time claims every week, so what does the President do?  Well, of course, he robs existing seniors 65 and over of $716 Billion dollars starting in 2013.

Does this President like the sound of the United States of Greece? Is he purposely trying to drive our great country into a poverty level for seniors today and future seniors from which we may never recover?

I encourage all seniors to research the President's plan and the Romney-Ryan plan in depth before you walk into the voting booth in November. I strongly believe that after one term in office we need something stronger than speeches on Hope & Change. We need action.

And that's Politics with Pete for today......God Bless our Troops