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My concern is that after wiping out a vulnerable demographic in our country and solving our Social Security and Medicaid funding issues COVID-19 creates a whole new demographic of folks vulnerable to other stuff. Or, based on the antibody research thus far vulnerable to a future case of COVID-19.
While it’s early this thing could be a witches brew of badness.
Flu bros up now!
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It doesn't do a thing to help social security and medicare. Suppose everyone who dies is over the age of 80, and 200,000 people die. These numbers are overstated, but at best that's a $2 billion a year savings in social security payments in a $1 trillion a year program. Worse for your cost savings idea: every year 3.5 million more Americans turn 65 and are eligible for benefits. And even worse for your cost savings idea: when people who are 60 see lots of people older than them dying off, they tend to change their plans and retire early which results in more social security payments and far fewer tax revenues to support them.
Use your head--suppose the social security and medicare deficits were erased overnight. What happens then? Congress will just expand the benefits. That's why there are deficits to begin with. The benefits are 10,000 percent higher than they were ever supposed to be.