Should Governments Support the USA Plan?
1. The USA Plan is the solution to arguably the most irresponsible financial mistakes ever made by the US Congress, state legislatures, county commissions and city councils. The enactment of The USA Plan will eventually eliminate the need for legislatures, commissions and councils to burden American taxpayers with the costs of retirement and old-age medical plans like Social Security, Medicare and the many similar programs enacted by states, counties, and cities that were only partially funded or not funded at all.
2. California cities like Stockton and San Bernardino have already declared bankruptcy because they can’t pay the pensions unions have secured for government employees. The enactment of a self-financed retirement program like The USA Plan will take the burden off governments to finance employee retirement and old-age medical plans. As thousands of governmental units are at or near bankruptcy, there is an immediate urgency to solve this problem. The USA Plan does just that.
3. According to the www.USDebtClock.org, the Federal Government by itself has incurred $16 trillion in funded debt and $121 trillion in unfunded debt (the amount by which future Social Security and Medicare benefits exceed anticipated receipts). This $137 trillion debt amounts to a $1.2 million obligation of every taxpayer in America. The enactment of The USA Plan will immediately reduce that $137 trillion in debt to $30 trillion and eventually extinguish it in total. Similar savings will occur at the state and local levels.
4. Enactment of The USA Plan will allow all government entities to avoid the bankruptcy of their safety net programs. As The USA Plan leaves the existing Federal Social Security and Medicare programs in place to service legacy participants, and others that fall through the cracks, it also makes the existing benefits the floor under which no future benefits can fall. The incentive of The USA Plan’s multi-million dollar nest egg to retire on will lead to a massive reduction of those needing safety nets.
5. The enactment of The USA Plan will also save governments enormous money. As the Plan creates wealth and the demand for property for every American, there should be less crime as people with property tend to create societies that protect it. The reduction in government administrative costs should also be substantial as there will be no logistic needed for a bloated bureaucracy to administer welfare-type programs.
6. The Plan will generate the biggest tax cut of any nation in human history. It (payroll taxes) amounts to almost $1 trillion a year. The Plan will immediately reduce the government’s take of GDP from 25% to 15%. Other savings generated by enacting the Plan should drive that figure to 12%.
7. The Plan calls for the annual infusion of that $1 trillion right into the equity marketplace. The infusion of new capital into the economy will generate enormous business activity and kick our rate of growth north of 10% per year in the near future. With that rate of growth, the unemployed will vanish as employers seek to staff new companies and expansions. We anticipate that private sector employees will siphon off the workers no longer needed in the public sector which will solve a collateral problem.
8. The enactment of The USA Plan will reverse the need for citizens to rely on the government for their survival. The government should supply only safety nets and endorse and support plans like the USA Plan, which weans people off charity and welfare into productive and meaningful lives.
9. The USA Plan will also relieve the government from the burden of trying to supply college educations for everyone. The majority of Americans can still achieve the American Dream under the USA Plan without having to go to college.
10. The Affordable Health Care Act can be repealed, and retirees can still have the best health care on the planet because their nest egg will allow them to afford adequate coverage or pay for it themselves.
The American Government needs to work better for the people. It needs a redo. As long as it does, let’s try to make it a comprehensive redo in which many goals are reached. The USA Plan is a step in that direction. The USA Plan multi-tasks to reach the...read more
When President George W. Bush just tried to partially privatize Social Security in 2004 and 2005 the CEO of the Prosperity Commission, Dick McDonald, a life-long tax man, knew Bush’s attempt would fail. He knew it would fail because it wasn’t the type of...read more