Should Governments Support the USA Plan? YES!
The USA Plan will deliver Our Founders promise of a more limited government. Entitlement programs will significantly shrink as well as the need for the taxes that support them. Its enactment will immediately reduce the government’s unfunded debt by an estimated $70 trillion. The Plan’s enactment will go a long way in shaping the government of the future.
- 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.
- 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.
- According to the USDebtClock.org, the Federal Government by itself has incurred $22 trillion in funded debt and $122 trillion in unfunded debt (the amount by which future Social Security, Medicare, and other entitlement benefits exceed anticipated receipts). This $144 trillion debt amounts to a million dollar obligation of every taxpayer in America.The enactment of The USA Plan will immediately reduce that $144 trillion in debt to $74 trillion and eventually extinguish it in total. Similar savings will occur at the state and local levels. See US Debt Cut by USA Plan for the real $110 trillion reduction in the debt after the unfunded debt is increased by the heretofore deducted future payroll tax receipts.
- 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 retirement nest egg will lead to a massive reduction of those needing safety nets.
- The enactment of The USA Plan will also save governments enormous money. As the Plan creates wealth (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 need for a bloated bureaucracy to administer welfare-type programs.
- The Plan will generate the biggest tax cut in 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%.
- The Plan calls for the annual infusion of that $1 trillion in payroll tax 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 soon. 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.
- 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 activities.
- The USA Plan will also relieve the government from the burden of trying to supply college education for everyone. The majority of Americans can still achieve the American Dream under the USA Plan without having to go to college.
- Retirees can still have the best healthcare on the planet because their nest egg will allow them to afford adequate coverage or pay for it themselves.