Very much YES. But why wait until now to start doing that? "The state" has always been at best a necessary evil, and in many cases the "necessary" part wasn't true either. (How many dictatorships have basically had the guy at the top be a leech who did nothing but get fat on the toil of his subjects, for instance?)
The government never really was going to help the elderly or poor, it just said it was to get the populace to accept another tax hike. If you want the elderly or poor to be helped, then get out there and DO it! (For myself, I want tigers to keep on existing, so that's where I funnel my charitable works. I figure the elderly and the poor have got other folks watching their backs.)
Live a good life, for yourself, about yourself, and in spite of the government. Obey the law, pay your taxes, and do your best to vote the bums out. But take it from a lifetime inmate of Washington, the previous administration wasn't any less evil than the current one, they just had better P.R.