Episode 297: Can Social Security, Medicare and Medicaid Be Saved?

Today’s episode is part 2 of David’s interview with Dave Hall. David shares his thoughts about moving the retirement age to what it currently is. Dr. Larry Kotlikoff has suggested raising taxes to 4% – 2% on the employee and 2% on the employer – as a way to solve the issues around Social Security. David sees the combination of pushing back the retirement date and increasing revenue as a valuable avenue to tackle the Social Security issue. Dave and David talk about the current and future state of Medicare.  Medicare is the largest of the three programs that constitute the $239 trillion underfunding. David touches upon David Walker’s answer to the question “Do you foresee a future in which they could raise income taxes to pay for that underfunding?” States like California and Washington are concerned about the future viability of their Medicare programs because of all the long-term care needs the country has. There’s a 70% chance that, among spouses, one will end up needing long-term car...