Joe Biden: 'Medicare is more than a government program. It’s the rock-solid guarantee that Americans have counted on to be there for them when they retire.'
projection is 2028. But we should do better than that and extend Medicare’s solvency beyond 2050.
Second, let’s ask the wealthiest to pay just a little bit more of their fair share, to strengthen Medicare for everyone over the long term. My budget proposes to increase the Medicare tax rate on earned and unearned income above $400,000 to 5 percent from. As I proposed in the past, my budget will also ensure that the tax that supports Medicare can’t be avoided altogether.
Add all that up, and my budget will extend the Medicare trust fund for more than another generation, an additional 25 years or more of solvency — beyond 2050. These are common-sense changes that I’m confident an overwhelming majority of Americans support.
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