Essay On Income Inequality

Income inequality is not new in America but what is new is income inequality on older adults in America. US has one of the most unfair income distributions there is in comparison to other developed worlds. There are policies and programs setup to help the elderly but there are unfortunately many flaws that come with them. A few public assistance provided programs are Medicare, Social Security, Supplemental Security Income and Medicaid. Inequality is starting to be more obvious and it is bringing forth more statistics on the matter. Based on statistics around one fourth of Medicare accepters have annual incomes less that $14,400. The poverty line was recently documented at around $11,700. Most seniors don’t have a huge savings and some even go into retirement in debt due to unforeseen situations. Now, for Medicare elders in these situations their insecurity is most likely not going to get better. The biggest issues is the flaws in these public provided programs that the policymakers don’t see or don’t want to see. I think it’s a big misconceptions that seniors have what they need and are financially surviving.

One important point was that due to the increased size and longer life span of the baby boomers it’s hurting the programs in multiple ways. One being it’s impact on social Security. Social Security not has about forty percent of older persons income but will eventually run out soon. Medicare and Medicaid does not provide coverage in important areas like dental, hearing aids, important medicine and more. This when broken down is about thirty percent of most seniors expenses. With Disability and retirement benefits supplemental security income doesn’t correctly add up the living expenses and has unusually difficult paperwork that limits steers many people away from