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Got mortgage deduction but my taxes are so high the impact is minimal. No homestead, no Prop 13, no property tax cap, no preferential tax rate, no untaxed housing consumption. By the way, most of those are state dependent, not federal. These benefits are federal. Though Prop 13 does sound pretty great.
In most states, owner-occupied primary residences enjoy preferential tax rates. When I lived in Michigan, the school property tax rate on my rented home was FOUR TIMES the rate on the owner-occupied home next door.
That's federalism for you, when states compete, governments redistribute upward.
Two-earner couples are, on average, more affluent than the rest of us (esp singles), and live on average significantly longer than the rest of us, thus they take out more than the rest of us. Of course, those affluent two-earner couples are usually not the ones taking Medicaid.
How about we just have a government calculator. You take out until you use up what you put in. Then you're done. And if you've already taken out more than you put in, you're done already.
You hope. Seniors just love to take government money and it's typically far more than they contribute when you combine Medicare, Medicaid and Social Security. But they vote Republican so if a Republican cuts their payout, so be it. They essentially voted for their own cuts. Pretty funny really.
These seniors...they might be the "greatest" generation but not the "brightest" generation
I always find it funny when Republican seniors are outraged by cuts to Social Security. They voted for it, they should live with the results of their vote.
By the way - a major portion of Medicaid goes to seniors too. It goes to senior housing. So when you say cut Medicaid, just know seniors will definitely be affected.
Medicaid does not go for senior housing unless your idea of senior housing is assisted living or long term nursing or nurses aide care! Its the kind of care you need when you can't walk more than a few steps, cant lift things weighing more than a pound, have trouble getting on a toilet, dealing with dementia, the consequences of a stroke, heart failure or kidney failure. Neither assisted living or long term care is covered by Medicare beyond the first 60 days of it being required. To qualify for Medicaid in most states the senior must have little or zero assets, financial or otherwise (eg property).
Medicaid does not go for senior housing unless your idea of senior housing is assisted living or long term nursing or nurses aide care! Its the kind of care you need when you can't walk more than a few steps, cant lift things weighing more than a pound, have trouble getting on a toilet, dealing with dementia, the consequences of a stroke, heart failure or kidney failure. Neither assisted living or long term care is covered by Medicare beyond the first 60 days of it being required. To qualify for Medicaid in most states the senior must have little or zero assets, financial or otherwise (eg property).
How often are assets transferred in order to qualify? 4.6 Million seniors are receiving Medicaid.
While Medicaid finances most long-term care in this country, Medicaid is supposed to be "the payer of last resort" when it comes to long-term care. Medicaid pays for long-term care only for those who are poor or who have become poor after paying for medical expenses or nursing homes.
Many people try to give away their assets to relatives in order to qualify for Medicaid..Not all transfers, however, trigger a period of ineligibility for Medicaid. Federal and state Medicaid laws contain various exceptions to the rule against making gifts within five years of applying for Medicaid for long-term care (called the look back period). Following is a brief review of the most common exceptions.
How about we just have a government calculator. You take out until you use up what you put in. Then you're done. And if you've already taken out more than you put in, you're done already.
Why not just execute people when they turn 65 and then they can't collect anything.
Why not just execute people when they turn 65 and then they can't collect anything.
So let me get this straight. Seniors are all about reducing the national debt and against anyone that's a "taker". But if the money all goes to them, that's okay? If they transfer all their assets to others so they can get the government to pay for their long term care, that's okay? They can vote for a Congress that passes something like Medicare Part D, completely unfunded, and that doesn't contribute to the national debt? They are mostly against government healthcare except Medicare, even though 4.6 million are not paying their share because they are collecting Medicaid, and if you bring it up, you're against seniors?
Just imagine the conversation of someone discussing transferring all their assets to others so they can get the government to pay for all their long term care after they have been collecting years of Social Security and Medicare benefits.
Last edited by Seacove; 10-09-2015 at 11:36 PM..
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I always find it funny when Republican seniors are outraged by cuts to Social Security. They voted for it, they should live with the results of their vote.
