THE CULTURAL EFFECT ON TAXES
The USA Plan Triggers the Largest Tax Cut in History.
The tax cut will include all payroll taxes, Medicare, disability, etc. Those taxes will become the weekly contribution to a person’s own Universal Savings Account ( a “USA”).The Universal Savings Account should also generate the largest increase in tax revenue ever collected.
The infusion of a trillion dollars a year into the country’s investment capital pool will generate new jobs, expanding businesses, new entities, and services that will absolutely balloon tax receipts offsetting much of the decrease in revenues caused by the USA’s.
The annual cost of a trillion dollars in Social Security and Medicare cost not covered by previously collected tax revenues will be offset by a reduction in over a several trillion dollars a year in the existing $110 trillion in government’s unfunded liabilities. As the cumulative USA nest eggs accumulate and compound the gross unfunded liabilities will decrease actuarially.
The USA Plan substantially decreases the need for government and increases personal responsibility. This time, however, a well-funded USA will give personal responsibility more importance and attention.
The USA Plan will bring forth the feeling of personal self-reliance which will be the driving force behind its enactment into law.
The USA Plan has been constructed to induce family creation and maintenance. Couples who decide to have the mother stay home will still retire millionaires.
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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 multitasks to reach the...read more
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