The USA Plan will achieve these goals by a simple change to the way we allocate payroll taxes collected by the government. Everyone has heard that the 50% of the people pay no income taxes. What they almost never mention is that every worker pays a 15.3% payroll tax (FICA). The USA Plan merely shifts the 15.3% in payroll tax from the Social Security and Medicare Programs and places it in each taxpayer’s own personal USA Account otherwise known as the Universal Savings Account.
Making everyone a millionaire is epic; but making our Nation’s net worth jump $1,000 trillion in 40 years is more than exceptional. Today, America’s assets of $135 trillion are less than its $150 trillion in debt. In 40 years, America’s debt will be reduced to zero under the USA Plan and our assets will grow over $1,000 trillion. See Here.
Be advised, the USA Plan is not an attempt to privatize Social Security or Medicare. The USA Plan retains these programs in their present forms. Over the years, the need for these programs will disappear as Americans are able to afford retirement and medical costs. How the Plan pays for this is described here.
For over 10,000 years no government, no religion, no university, no think tank or any other person or entity has ever devised a realistic plan to eradicate poverty. The USA Plan does just that. It replaces (not eliminate) Social Security and Medicare as the primary safety net/retirement/healthcare programs and generates a $7.4 million nest egg on which an average American can retire. See here.
As of April 2019, the US Debt Clock estimates all American assets total $138 trillion and funded and unfunded liabilities total $145 trillion. That means America has generated no net worth in the 243 years of its existence. The enactment of the USA Plan should generate a $1,000 trillion net worth in 40 years for just the American people. See here.
US Net Worth
On the day the USA Plan is enacted into law there will be an automatic $70 trillion or so increase in the net worth of America. The increase in net worth is caused primarily by a decrease in our national funded and unfunded debt. See “Debt and the USA Plan” and “US Debt Cut by USA Plan”.
The diversion of payroll taxes to the USA Accounts will result in the largest tax cut in American history. It delivers real tax reform. How that tax cut will be financed is spelled-out at “Debt and the USA Plan” and “US Debt Cut by USA Plan”.
The US and state governments and many business entities suffer from underfunded pension funds. Some have gone bankrupt and left the retirees penniless. The USA Plan was not designed to relieve those plans but to make them unnecessary in future public or private planning.
One of the more compelling features of the USA Plan is its cost-cutting capability. It is programmed to eventually to greatly reduce or eliminate the need for entitlements, subsidies, and welfare; 60% or more of the Federal and state budgets. That means lower taxes for everyone. It will eliminate the need for government and business to provide retirement and old-age medical coverage.
Other Groups and Entities
In addition to these dramatic results the following people and entities are positively affected: Click the selection for a summary.
Latinos and Others
Big and Small Business
There are many additional benefits covered on this site as well as problems solved. Such as:
Political dysfunction – Both Democrats and Republicans should agree to eradicating poverty and exploding national wealth. That should make for fewer public and private political disagreements.
Crime and Incarceration – As many crimes are motivated by financial concerns, the USA Plan will reduce future crime and incarceration.
Hope and Aspirations – The USA Plan should give hope to young disadvantaged youths. The existence of their own investment/savings account that accumulates and compounds into what amounts to a winning lottery ticket should give rise not only to hope but strengthen self-confidence, self-esteem, and aspirations.
Also, See Mission Statement
The USA Plan sets out The Prosperity Commission’s future objectives and strategies for achieving them. Our plan is comprised of two operating elements: the “USA Trust” and the “USA Account” .
The USA Plan, as described in this website, explains how a USA Account will be set up for each taxpayer, how the IRS will distribute payroll taxes it collects from taxpayer’s paychecks to each USA Account. It also describes how the USA Trust allocates those funds with respect to investments and other fiduciary and administrative responsibilities. Finally, the USA Plan will discuss the advantages and consequences to the US economy, government, and to the Nation’s social fabric as a positive result of its implementation.