Means-testing Social Security and Medicare is an idea thrown around a lot to "find savings" because, on the surface, it doesn't sound too painful. Wealthy people typically are able to save more and invest in retirement than lower- and middle-income earners, so they don't need Social Security and Medicare as much, right? Wrong.
Means-testing Social Security and Medicare is a cynical way to weaken and destroy benefits for middle-income working people.
Lynn Stuart Parramore at Alternet writes:
In Washington-speak, “means-testing” is a scheme to deny or reduce Medicare and Social Security benefits for people who are “too wealthy” in the name of saving money. It’s a counterproductive, harmful idea, but one that well-intentioned liberals often get snookered into embracing.
Parramore spoke with several economists to discuss six reasons why means testing is a real dud: