Ideas for U.S. Budget & Our Entitlement Programs

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Seeded by L'Mark Campaign View Original Article: Mark Memoly U.S. Senate Candidate

Seeded on Fri Mar 30, 2012 10:02 AM

Discuss:

Let’s position All Generations for Prosperity.

Ever talk to a Parent when a Bank CD due date is up?

A concern is expressed in their voice on what to do. We have an opportunity to:

1) Properly compensate people that have invested in Social Security & Medicare.

2) Transition Entitlement Programs over to States and/or Individuals.

3) Set a course for America to have a Balanced Budget each year.

4) Structure a program paying an interest rate significantly MOré than inflation.

5) Offer Business reasonable loan rates.

6) Collect any back taxes from an Individual.

7) Have better Government and less politicking.

People would be able to “Cash Out” of Social Security and Medicare and earn a rate of interest of 4% for every year they paid into Entitlements programs. Our I.R.S. would show what tax information is on file and make payment to the individual providing the person signs a waiver releasing our Federal Government of all future payments. Should a person dispute this tax information they could arbitrate it and be reimbursed if the I.R.S. information was proven to be incorrect.

The advantages of this idea are enormous = Uncollected taxes of the USA are in the billions and with Life Expectancy continuing to grow America will not have to raise the minimum age requirement of when a person could start collecting Social Security and Medicare. Furthermore, not having Long-Term debt obligations raises America’s debt rating.

Having Social Security and Medicare managed by States and/or Individuals reduces the administrative cost of our Federal Government and we do not waste resources collecting money in Washington, DC only to send it back to State residents.

Individuals would have the option of remaining in current Social Security & Medicare programs or accept a one-time payment provided they sign a waiver releasing our Federal Government from being obligated to make any future payments.

Starting in 2020 the Federal Government would stop collecting F.I.C.A. and people would no longer be eligible to enroll in Social Security and Medicare. This is enough time for States to establish their own programs ensuring people are protected and individuals have financial programs that have minimal/no risk.

Congress concentrating on providing for our National Defense, Commerce between States and other Countries, and Our Freedom will reduce the bickering that has taken over our U.S. Senate the last few years i.e. U.S. Senate not passing a Budget. If a person reported to you and was responsible for authorizing a Budget and hadn’t done it for three years would you still have a job? Do you give our U.S. Senate a Satisfactory Performance Review?

When government reduces unnecessary expenditures we will have a balanced budget. It is not a question of whether we are collecting enough taxes in Washington, DC because Americans have confirmed repeatedly we are. Therefore, it is how we are spending taxes collected and once again Americans have said we are not spending resources wisely. A Balanced Budget will result when we do.

Our SBA & I.R.S. can easily design a program that will pay individuals a guaranteed interest rate of 5% and lend it to companies at 5.5%. This is higher than the payout mentioned earlier because it takes into account that we will not continue to have people stationed in Iraq and Afghanistan after 2014. With the CPI Index usually coming in at 2 ½ % each year this program will provide people with MOré disposable income Generating Prosperity.

When Small Business no longer has to acquire products and pay an excessive credit card interest rate Americans will see significant growth in our Business sector. Jobs will be created and our Long Term unemployed will be able to get back to work with the new opportunities. People are encouraged to prepare for job opportunities by taking advantage of the free computer programs offered by Microsoft, Apple, ATB, and many other companies.

In order to collect the one-time payment our I.R.S. will have to verify taxes filed by each person. Win Win Win because, it will demonstrate a person has dutifully paid taxes, our Government will have a system in place to verify it, and the infusion of money will correct the Housing Bubble we have experienced in the last five years. Future Prosperity will result Worldwide.

With programs in place America can build High Speed Rail & MOré Reusable Energy Resources & Families will build wealth to invest in communities.

It’s time for 1time.us

Leadership Improves Our Economy & Environment.

Mark Memoly

U.S. Senate Candidate

A Fiscal Republican With Sense of Humor

Internet Resources

http://www.senate.gov/pagelayout/legislative/g_three_sections_with_teasers/legislative_home.htm

http://rockcenter.msnbc.msn.com/_news/2012/03/28/10902179-facing-few-options-americans-turn-to-pawn-shops-when-savings-run-out

http://uspolitics.about.com/od/thefederalbudget/a/budget_process.htm

http://www.forbes.com/sites/aroy/2012/03/20/paul-ryans-new-and-improved-plan-for-medicare-and-medicaid-reform/

http://www.whitehouse.gov/omb/budget