Subject: Re: Morgan Stanley credits Bidenomics
Nothing is free. Biden and Newsom are reaching into my pocket and taking whatever they want to give to asset-rich seniors who could easily afford it, but being baby boomers love freeloading.

What is Medicare funded by?
Funding for Medicare, which totaled $888 billion in 2021, comes primarily from general revenues (46%), payroll tax revenue.

who sponsored medicare?
President Lyndon Johnson
On July 30, 1965, President Lyndon Johnson traveled to the Truman Library in Independence, Missouri, to sign Medicare into law. His gesture drew attention to the 20 years it had taken Congress to enact government health insurance for senior citizens after Harry Truman had proposed it.

Is Medicare deducted from Social Security?
Yes. In fact, if you are signed up for both Social Security and Medicare Part B ' the portion of Medicare that provides standard health insurance ' the Social Security Administration will automatically deduct the premium from your monthly benefit. The standard Part B premium in 2023 is $164.90 a month.