Wake up America!! The government has often forewarned us of the impending danger. Our plans for peaceful, worry- free retirement in its present form are coming to an END! It is a fact that the number of recipients of the Social Security and Medicare benefits are growing faster than the growth of the workforce that supplies the funding. THE SOCIAL SECURITY AND MEDICARE FUNDING PLAN MUST CHANGE or there will be an increase in amount the workforce will pay, a reduction in the benefits to be received or both. Economics is a fact based study with logical conclusions and we the people must eventually face the facts and force congress to enact the RETIREMENT RESCUE PLAN or watch a radical change in payment and benefits.
Current funding must shift from the backs of the workforce to a consumption tax with the effect of giving everyone currently receiving a paycheck a 6.2% increase in pay and every employer relief from a similar amount attributed to worker employment cost. If desired, this amount may then be allocated by the employee and/or employer to a separate retirement program based on prudent investments. Otherwise, the employee has the extra money for other necessities, and the employer simply reduces the cost of their operations.
With a certain level of credit for the tax, to assure lower incomes of a smaller consumption tax burden, all buyers of new goods and services would support the beneficiaries of Social Security and Medicare. Among those sharing the new burden would be those who are tourists and other visitors enjoying the grandeur of our nation. Many, not receiving a paycheck, such as those living on investment income, now make no contribution whereas when making purchases they would pay to support Social Security and Medicare. In addition large companies who currently pay no tax at all would pay for social security and Medicare through purchases of new goods or services. Even criminals who now evade any taxation would give support through purchase, of luxury items and ordinary necessities,
The details of such a shift must be developed by Congress, but citizens all must voice our concerns and spur House and Senate into action.
Ivotemyvote.com is a voice crying out to the deaf ears of Congress to properly fund Social Security and Medicare. All workers must depart from apathy, listen to the government prophecy and take action by contacting the Senators and Representatives to enact THE RETIREMENT RESCUE PLAN.
1. Q: What is the Retirement Rescue Plan proposed in the text?
Ans: The Retirement Rescue Plan is a proposed solution to address the funding challenges facing Social Security and Medicare. It suggests shifting from workforce-funded contributions to a consumption tax system to ensure the sustainability of these programs.
2. Q: Why is there a need for a new retirement funding plan?
Ans: The current system faces challenges due to the growing number of retirees compared to the workforce contributing to Social Security and Medicare. A new plan is necessary to maintain the stability and viability of these programs.
3. Q: How would the Retirement Rescue Plan impact workers and employers?
Ans: The plan proposes shifting funding from payroll-based contributions to a consumption tax, which would increase workers’ take-home pay and reduce financial burdens on employers. This could potentially improve economic conditions for both parties.
4. Q: Who would bear the burden of the proposed consumption tax?
Ans: The burden of the consumption tax would be shared by all buyers of goods and services, including those who do not receive a paycheck, such as individuals living off investment income. It would also include those engaging in illegal activities and making purchases.
4. Q: What role does Ivotemyvote.com play in advocating for the Retirement Rescue Plan?
Ans: Ivotemyvote.com serves as a platform for raising awareness and mobilizing citizens to voice their concerns about retirement funding issues and push Congress into action. It encourages citizens to engage with government proposals impacting retirement benefits and advocate for change.
