Solving Social Security Funding

The easiest way to solve this, and to educate both the current and future recipients that you MUST pay for something NOW to get something later, is easy.

Freeze the amount spent for Social Security at the same amount paid out in 2009. As more and more people get into it then the amount paid PER PERSON just goes down. If there are 60 million people being paid now, and 3 more million join in, now divide the total pot available by 63 million instead of 60 million.

 

This "entitlement" is an INSURANCE policy you pay into over your whole working career - not a defined benefit plan. If the insurance pool of money is thus fixed - and the number claiming it goes up - then people can SEE the effect of Congress not fixing the underlying problem: granting more money to more people who never worked at all, people living longer than the people though would 70+ years ago when it was enacted, and compound interest on the amount of money being paid out, than the working people ever paid into it or can be paid into at the current rate.

 

The only way to ensure it will be solvent forever is to fix the total paid out per year for the next 5 years, up the amount actual PEOPLE pay into it to 12% to match the amount that they will eventually receive - so that people NOW have a big stake in the running of it - and thus get congress to stop giving away money for all these "feel good" things they have heaped upon The Social Security system these past 50 years since the "Great Society" giveaway of the 1960s.

 

 

When you see the word "reform" in any Congressional bill . . .

You must be VERY wary since almost all of these “reform” bills passed created one of these.

 

Tax his land,

Tax his bed,

Tax the table,

At which he's fed.

 

Tax his tractor,

Tax his mule,

Teach him taxes

Are the rule.

 

Tax his work,

Tax his pay,

He works for peanuts

Anyway!

 

Tax his cow,

Tax his goat,

Tax his pants,

Tax his coat.

 

Tax his ties,

Tax his shirt,

Tax his work,

Tax his dirt.

 

Tax his tobacco,

Tax his drink,

Tax him if he

Tries to think.

 

Tax his cigars,

Tax his beers,

If he cries

Tax his tears.

 

Tax his car,

Tax his gas,

Find other ways

To tax his ass.

 

Tax all he has

 

Then let him know

That you won't be done

Till he has no dough.

 

When he screams and hollers;

Then tax him some more,

Tax him till

He's good and sore.

 

Then tax his coffin,

Tax his grave,

Tax the sod in

Which he's laid...

 

Put these words

Upon his tomb,

Taxes drove me

to my doom...'

 

When he's gone,

Do not relax,

Its time to apply

The inheritance tax.

 

A very partial list of taxes that are paid:   

 

Accounts Receivable Tax

Building Permit Tax

CDL license Tax

Cigarette Tax

Corporate Income Tax

Dog License Tax

Excise Taxes

Federal Income Tax

Federal Unemployment Tax (FUTA)

Fishing License Tax

Food License Tax

Fuel Permit Tax

Gasoline Tax (currently 44.75 cents per gallon)

Gross Receipts Tax

Hunting License Tax

Inheritance Tax

Inventory Tax

IRS Interest Charges IRS Penalties (tax on top of tax)

Liquor Tax

Luxury Taxes

Marriage License Tax

Medicare Tax

Personal Property Tax

Property Tax

Real Estate Tax

Service Charge Tax

Social Security Tax

Road Usage Tax

Recreational Vehicle Tax

Sales Tax

School Tax

State Income Tax

State Unemployment Tax (SUTA)

Telephone Federal Excise Tax

Telephone Federal Universal Service FeeTax

Telephone Federal, State and Local Surcharge Taxes

Telephone Minimum Usage Surcharge Tax

Telephone Recurring and Nonrecurring Charges Tax

Telephone  State  and Local Tax

Telephone Usage Charge Tax

Utility Taxes

Vehicle License Registration Tax

Vehicle Sales Tax

Watercraft Registration Tax

Well Permit Tax

Workers Compensation Tax

 

Not one of these taxes existed 100 years

ago.

 

From a Charley Reese e-mail.

 

Charley Reese

P.O. Box 2446

Orlando, FL 32802

 

http://www.lewrockwell.com/reese/reese-arch.html