Curing Social Security
Mr. President:
God speed in your correcting Social security from the welfare system back to the insurance system it was developed to be. Also, with intent be sure to remove social security funds from government borrowing for any other purpose of spending and put the spending back in the proper tax rolls. As to funding, it is simple, as is the cure..
As you remember, Social security started with coverage on those 10 years past expected life and for those impeded from work ability. Place emphasis on returning the plan back to it's roots and remove it from it's present horrors.
When the Great Society dipped into the social security funds, that is when our deficit darkness kicked into high gear. We became like a drunken sailor eating up the food storage needed to sustain our trip. This tax transfer could be the first step in moving the tax burden on social security over to a consumption tax with the deadline intent of removing income tax by a certain deadline.
As to funding the current systems commitment of social security and at the same time moving the investment back to the employee for self determination by private investment, offer the fruits of the social security payroll tax on wages up to, say $20,000.00, into the similar thrift saving accounts like the federal employees are presently proving a healthy system. That would entail 15.5 % payroll investment into a retirement plan, which employers would be matching half of and make it voluntary for contributing up to 10% of payroll of employee. Extend the ceiling of the social security tax up to offset the interest created by the borrowing of funds to support this shortage. What will result is an enormous influx of investment funds into the economy and an large demand on employee supply thereby thrusting an needed inflation round with wages leading the healing influx. Time is of essence for that though. Remember, the social security tax should start to need reduction as the economy heats up and the illegal spending drain is removed from social security to a consumption sales tax on all but food and staples and housing.
If the above is enacted, we will end up with an insurance plan for disability from being able to work up to an age of unable to work, no age of retirement on social security,, just ability insurance and spousal support failure. Making the first 15% of $20,000 investment to individual accounts will keep the government out of foolishly wasting it and provide a new hope for American workers. That would be $3,000.00 per year per worker who makes at least that much. That would be a blessing! That would be a fix!
Hoping in you success,
R. George Dunn
Some thoughts on the social security change
1. Realize Social Security must be re-identified that at the time of transition, it must change it's value back to original intent.
2. Use a plan like the Federal Employee Retirement System Thrift Savings plan, where after the first one percent or so, the percent put into the private savings be matched by the employee. Add to it the employee being matched by the employer after the maximum of social security funds used is met. Be sure to not allow the funds to be borrowed on, except for emergency and for housing only.
3. I believe it was the Regan Blue ribbon panel that solved the problem of social security in the eighties, but the continued un-constitutional spending of Congress increased and destroyed the plan. Put a stop to unauthorized spending by the constitutional mandates.
4. The increased private investment in capital limited to U.S. funds and U.S. Government bonding will offset the expense of transition.
5. In transition, the mandatory private investment of employees will allow for the social security to transition from a retirement account at the present 20 years short of life expectancy, to an insurance plan that allows for withdraw after life expectancy age and also provide for insurance in case of early death or disability, offset by the amount of private funds accumulated at time of demise. In other words, get the system out of the Governments pigtrough and back into the peoples hands.
6. Revisit the recommendations of David Stockton, who, for President Regan, recommended certain cuts to the Federal Bureaucracy.
7. Praise God from whom all Blessings Flow and secure our World's communication from the evil forms of decay.(censor)
R. George Dunn
God speed in your correcting Social security from the welfare system back to the insurance system it was developed to be. Also, with intent be sure to remove social security funds from government borrowing for any other purpose of spending and put the spending back in the proper tax rolls. As to funding, it is simple, as is the cure..
As you remember, Social security started with coverage on those 10 years past expected life and for those impeded from work ability. Place emphasis on returning the plan back to it's roots and remove it from it's present horrors.
When the Great Society dipped into the social security funds, that is when our deficit darkness kicked into high gear. We became like a drunken sailor eating up the food storage needed to sustain our trip. This tax transfer could be the first step in moving the tax burden on social security over to a consumption tax with the deadline intent of removing income tax by a certain deadline.
As to funding the current systems commitment of social security and at the same time moving the investment back to the employee for self determination by private investment, offer the fruits of the social security payroll tax on wages up to, say $20,000.00, into the similar thrift saving accounts like the federal employees are presently proving a healthy system. That would entail 15.5 % payroll investment into a retirement plan, which employers would be matching half of and make it voluntary for contributing up to 10% of payroll of employee. Extend the ceiling of the social security tax up to offset the interest created by the borrowing of funds to support this shortage. What will result is an enormous influx of investment funds into the economy and an large demand on employee supply thereby thrusting an needed inflation round with wages leading the healing influx. Time is of essence for that though. Remember, the social security tax should start to need reduction as the economy heats up and the illegal spending drain is removed from social security to a consumption sales tax on all but food and staples and housing.
If the above is enacted, we will end up with an insurance plan for disability from being able to work up to an age of unable to work, no age of retirement on social security,, just ability insurance and spousal support failure. Making the first 15% of $20,000 investment to individual accounts will keep the government out of foolishly wasting it and provide a new hope for American workers. That would be $3,000.00 per year per worker who makes at least that much. That would be a blessing! That would be a fix!
Hoping in you success,
R. George Dunn
Some thoughts on the social security change
1. Realize Social Security must be re-identified that at the time of transition, it must change it's value back to original intent.
2. Use a plan like the Federal Employee Retirement System Thrift Savings plan, where after the first one percent or so, the percent put into the private savings be matched by the employee. Add to it the employee being matched by the employer after the maximum of social security funds used is met. Be sure to not allow the funds to be borrowed on, except for emergency and for housing only.
3. I believe it was the Regan Blue ribbon panel that solved the problem of social security in the eighties, but the continued un-constitutional spending of Congress increased and destroyed the plan. Put a stop to unauthorized spending by the constitutional mandates.
4. The increased private investment in capital limited to U.S. funds and U.S. Government bonding will offset the expense of transition.
5. In transition, the mandatory private investment of employees will allow for the social security to transition from a retirement account at the present 20 years short of life expectancy, to an insurance plan that allows for withdraw after life expectancy age and also provide for insurance in case of early death or disability, offset by the amount of private funds accumulated at time of demise. In other words, get the system out of the Governments pigtrough and back into the peoples hands.
6. Revisit the recommendations of David Stockton, who, for President Regan, recommended certain cuts to the Federal Bureaucracy.
7. Praise God from whom all Blessings Flow and secure our World's communication from the evil forms of decay.(censor)
R. George Dunn
posted by RGeorgeDunn at 5:22 PM
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