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Thursday, March 22, 2012

WM Essay #97: Reason-Based Social Security

The intended result of the implementation of Reason-Based Taxation in federal and state and local jurisdictions is that revenues match the fiscal budget, and that the national debt is being paid down.

Since the oligarchs own 65 percent of everything and the wealthy class owns 85 percent of everything, Congress needs only to revise the tax code so that each bracket pays for the services that they receive from government.

In Reason-Based Taxation, the oligarchs are levied for 65 percent of the Defense Department budget, and for 65 percent of the budgets for Commerce, Labor, Education, Interior, Transportation, Homeland Security, Justice, Health – in fact, their share of each and every bureau and service and department. The larger wealthy class pays for 85 percent of all the above.

The remaining 15 percent is spread among the weakened middle class, and the bottom 40 percent of the population pays only their social security and local taxes.

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This latter thought is what triggered a new concept, which is the topic of this essay.

A sizable portion of the poor class and of the working poor class will not get much return from their social security program benefits, because their lifetime wages and the subsequent contributions to social security were so meager.

And people who live in the panic-ridden 'cash only' economy may never pay anything into social security, from having no regular jobs or being off-record, i.e. paid 'under the table'. These people cannot expect to retire in any sense of the word.

Here's the new idea: What if anybody could pay into their social security account at any time – without having to earn a paycheck. Poor people or rich people, no difference. Much better odds than the numbers racket or lotto games or casinos: the social security program has always guaranteed its payout.

Any dollars contributed directly by any citizen or legal resident to his/her social securiy account would be added to the social security database for that year precisely as if it were receipt of social security tax coming by way of an employer payroll system.

Reason is the only frontier left.

Copyright 2012 by G.E. Nordell, all rights reserved

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