Apr 14
If I were dictator of the United States, this is how I would fix our budget problems.
- Social Security
New age at which you’re now eligible for benefits: 81 years old
When social security was first enacted in 1935, the law provided a monthly benefit to individuals age 65 and older and no longer working. But, the average life expectancy in 1935 was just about 62 years. Thus, the majority of people would be dead before they’d collect social security. That is how the system was supposed to work – to provide income in the last years of life, not the last decades of life. The program will be phased out over a period of several decades and payroll deductions will cease immediately. You’ll see receive a pro-rata share of what you paid into it, but if you’re not yet at retirement age, it’s time to start saving. - Medicare / Medicaid
Abolished and replaced with a Canada / UK type of National Health System
Yeah, yeah. B*tch and moan all you want. Nothing can change the fact that we in the US spend over $4,000 per person each year on health care compared to Canada at $2,000 and the UK at $1,700. Yet, we consistently score lower than these countries on a number of items, such as life expectancy, infant mortality rate and health care cost as a percent of the GDP. Government run health care works when implemented and administrated correctly. - IRS
Abolished and replaced with a National Flat Income Tax
Tax returns will be one page long and will take no more than one hour to complete. The more you make, the more you pay. Simple and fair. - National Sales Tax
Implemented immediately.
By law, the government would levy a VAT of 7%, states could levy up to a further 2.5% and local governments could levy up to an additional 0.5%.
I think those 4 things along would more than solve our budge problems.
What about you? What would you do?
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