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Politics : Ask Michael Burke
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To: Exacctnt who wrote (72552)12/30/1999 10:31:00 PM
From: RealMuLan  Read Replies (1) of 132070
 
<<How about retirement savings, autos, personal possessions>>

Haven't you heard the stats. that 30-40% of the people in this country have no retirement account? And about the same percentage of the people have no saving account either? What is the population living in nursing homes? Average spending down time for these elderly is 6 months (means to be eligible for the Medicaid). And when they are on Medicaid, their houses, if they still haven't transferred under their children's name, are state gov. property. Translate: after they die, the state gov., will auction their houses to recover the Medicaid cost. And what is the percentage of the total population who are on Medicaid? My guess is >10% if not higher, I might be wrong. And you cannot have much net worth to be on Medicaid.

And how many people work on minimum wage? If you really expect these people have much net worth, perhaps you should think again.

Regards.
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