Historical Proof That USA Plan Will Work
We have found no proof historically that any government, university, religion or any other entity has ever attempted to eradicate poverty and explode a nation’s growth rate at the same time. We at the Prosperity Commission are proposing such a plan. We only found three instances that support features of the USA Plan.
The Japanese economy was almost non-existent at the end of WWII. Their initial efforts in manufacturing were so bad, General Douglas MacArthur, the acting head of the country, called on President Truman for engineering and financial help. To provide Japan with the financial guidance he sent Joseph Morrell Dodge, the Chairman of a Detroit Bank.
Dodge made a decision that a bankrupt country had to look to its workforce to generate the capital necessary to build its manufacturing base. Dodge’s plan was successful. The necessary financing was generated in ten short years. So successful that it had climbed from the lowest GDP (Gross Domestic Product) in the world to second only to the United States. Annual growth rates exceeded 10% in some years.
The incentive Dodge used to get the capital was his creation of the Japanese Savings Bank and the non-taxability on interest made on savings in the bank. The Japanese just flooded the bank with savings to get the tax-free benefit. The similarity to the USA plan is his inclusion of all workers getting the tax-free incentive. His plan worked wonders. As the USA Plan is an outright return of 15% of all worker’s wages and a much greater incentive, it should result in greater growth rates also.
Jeffers MacArthur Dodge is a Senior Consultant at the Prosperity Commission and the grandson of Joseph Morrell Dodge.
Privatized Social Security Plans
Many countries now have privatized retirement plans. Many never achieve the ownership status of a USA account as their government most often uses the funds and pays only nominal rates of interest. Only one of Chiles investment funds is invested in US Mutual Funds. It’s been realizing over a 10% rate of return for over 30 years.
The US Government’s Thrift Savings Plan has many of the features of the USA Plan. Unfortunately, it is limited to Federal workers and is paid for by the U.S. Government. None of these plans are designed to accomplish all of the goals of the USA Plan and most are administrated by their government. The USA Plan is administered by an independent trust overseen by the people.
You should. After 241 years, according to the USDebtclock.com total US debt is just as large as all private and public assets combined. You can’t pick one reason for such a disastrous result for the most powerful, richest, and the freest country on the...read more
When asked that question many people reply with a question. Who is going to clean my house, who will pick up the garbage, where will we get stoop labor to pick our crops? Some will think this is selfish, but the reality is very compelling. If everyone is...read more
At some point in life, everyone must consider how to pay for retirement. That was not an issue when the Constitution was written. In those days families took care of the elderly. Today, that is the exception. Individuals have had to turn to private and...read more
If you are an average American, it is unlikely that you are deeply concerned about poverty. 100 million Americans receive some sort of government financial assistance and that doesn’t include people on Social Security or Medicare. When you add government...read more
Prosperity for all is possible with Universal Savings Accounts "We have an opportunity to make the world a better place. Rather than wasting time compromising the political ideologies of progressives and conservatives, Americans could use that time to...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 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