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So, Dems want the top 7% richest to pay more, and the Pubs want to change the age & payouts.
How about door #3?
Freeze taxes at current levels. Cut gov't spending by 6%/yr, & take 3% of that to pay down the debt, & the other 3% goes into the SS trust fund.
Do that for the next 5 years, then, re-assess. Reducing gov't by ~30%+ in 5 years is doable, because its grossly oversized now. Gov't now consumes ~50% of GDP, in 1930 it consumed ~10%. I dont think we'll ever see 10% again, but 30% is achievable.
Shrink gov't, take the savings to shrink national debt, and fix SS.
The existing DC swamp will never propose this, so we need a bold Preesidential candidate to do it, & we all get behind him/her.
So, Dems want the top 7% richest to pay more, and the Pubs want to change the age & payouts.
How about door #3?
Freeze taxes at current levels. Cut gov't spending by 6%/yr, & take 3% of that to pay down the debt, & the other 3% goes into the SS trust fund.
Do that for the next 5 years, then, re-assess. Reducing gov't by ~30%+ in 5 years is doable, because its grossly oversized now. Gov't now consumes ~50% of GDP, in 1930 it consumed ~10%. I dont think we'll ever see 10% again, but 30% is achievable.
Shrink gov't, take the savings to shrink national debt, and fix SS.
1). Goes directly into the accounts of their immediate family members.
No it doesn't. Social Security uses it to pay other people. When your parents die, you don't get any of the money that they did not collect. You only get an amount depending on what you paid in. What your ancestors had coming does not profit you at all. The only exception is a surviving spouse whose income can increase after the other dies.
I believe he was referring to his idea of a new 401k like account where the beneficiary retains ownership of the money.
Socialist Insecurity - absolutely. That thing is an abomination that accomplishes nothing but perpetuate generational poverty.
You could make businesses pay a living wage except, one of the primary rules of economics, "wages will never increase as much or as fast as prices".
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