First, you accept the concept that the beneficiaries should foot the bill. This is the first time in our history that the cost of a program has not been spread over the whole population. Removing the cap on income taxable by the Medicare tax portion of the Social Security tax would be a more equitable approach.
Second, it should be pointed out that the vast majority of the 40% of the seniors with enough income to pay income tax are most likely low-middle income people. The surtax, scheduled to rise to 28%, means a drastic cut in their living standards.
Finally, the benefits of the bill affecting only a small percentage of the elderly, are minimal due to the very large deductibles. As regards President Bush, he would much rather cut the capital gains tax for the rich than ease the burdens of the poor and middle-income Americans.