I'm reading through two years of campaign propoganda and watching the final news bites on what has now been a Presidential Electoral Campaign that is beginning to resemble the length of the Cold War. Maybe I'm missing something here, but I don't see specific plans for how seventy million Boomers are going to plan for the parent's care and support as both are aging. Neither candidate has offered a specific agenda to what I believe is a bigger challenge than energy independence, Iraq, Afghanistan, Russia, or HIV/AIDS.
Here's what I think they should do:
1. Restart the Construction Industry- Roughly 86% of Americans want to live in their homes as long as they can througout old age, but 98% of the homes can't accomodate them. Let's have Congress give TAX CREDITS (Obama's word) for all improvements made to an existing dwelling to allow the occupants to "Age in Place". There's only about a trillion worth of these modifications that can be done over the next four years. Instead of buying stock in the banks they should be making the same money available for parents and children to modify their homes.
2. Get with it on Technology- The Senate Committee on Aging should be looking at how technology, (microchip, internet, RFID) can be used to store and transmit medical records and information, collaborate with medical triage centers, and summon emergency personnel when needed.
3. Create a Super Health Savings Account for Old Age- The 401-k structure is perfectly suited for cloning a Parent Care Savings Account. We don't need Medicare and Medicaid for the upper levels of income if we allow them to save and have it be capable of being passed intergenerationally tax free. As a side benefit, just get rid of the Estate Tax. The lawyers, accountants, and life insurance industry will need to find something else to do...
4 Create an old age Sales Tax- Make a portion of every gross sale in America go to a state managed Parent Care Account. We've figured out how to do it for Welfare, Social Security, Tobacco and Gasoline Taxes, so we can figure this out. Applications would be based on a minimum amount available plus means and income tested procedures for other amounts. Lots of obstacles here but nothing insurmountable.
5. Scrap National Health Care- Look at Canada, Great Britain, Italy, France, and other quasi-socialistic countries underneath their state sponsored medical sheets and you will find great discontent. Government needs to focus on defense, power, water, sewage, and Alien detection.
6. Waive Income Taxes on Care Givers- We have a shortage of nearly 700,000 care givers now. These people work for not much more than twice the minimum wage doing stuff all day long that you would not do for five minutes. Give them a break. $100 extra a month to them means a lot. According to Barack, they're not going to pay any new taxes anyway. Just waive the old ones
7. Tax Credits for Technology- Give a tax credit to the Boomers who purchase technology to take care of their parents whether it be for internet, cable, computer, IPOD, Blackberry, or other technology device to make their work more effective and efficient when providing care
8. Let Churches enter the care giving business- Churches are Elder Care First Responders. Waive all the tax exempt stuff and let churches take care of their parishoners and people in the community. Most churches don't make enough at the end of the month to pay taxes anyway, so it wouldn't matter..
Any country that can spend 12 billion per month making sure that a country half a world away gets to vote, have clean water, and education, can figure out how to take care of its own aging population. Worst case, let the contract out for bid..