You’re exactly right.
REGULATIONS are killing the economy and the Left lives to tie them around and around and around us.
The Social Security system in my opinion is definitely a ponzi scheme. I am also against the Ryan plan because it fleeces those of us who are in our forties and early fifties, millions of Americans who have contributed to the social security system for 20 to 30 years and would be totally screwed by the government raising the eligibility age, reducing benefits, means testing, etc..
However, there is a relatively easy way to fix the social security problem. For those of us in our early fifties and younger and who have contributed for 20 - 30 years into the “system,” it is apparent that we are not going to get out of social security what we put in.
The government is either going to have to reduce benefits, means test benefits, or raise the age of eligibility or a combination of the three. These solutions are already being proposed and a combination of the three being enacted is a given.
So go ahead and raise the retirement age, reduce benefits and means test. But in conjunction, a relatively equitable solution is for those of us who are ages 51 - 55, give us a lifetime future 70% federal income tax credit on federal income taxes owed on amounts up to $100,000 per year from now on so that we can start to save the difference now for our retirement years.
Those younger than 51 can have the tax credit percentages staggered downward. For example: 46 - 50, 60%; 41 - 45, 50%; 36 - 40, 40%; 31 - 35, 30%; 26 - 30, 20%; 21 - 25, 10%.
This way the federal government can go reduce and reduce its substantial entitlement obligation, but will forced to reduce its entitlement obligations in other areas given the immediate reduction in its tax revenue stream(unemployment benefits, medicare, medicaid, welfare, etc.).
The benefits will be that the general tax burden will be decreased, spuring job growth and resulting in an eventual increased tax revenue stream from a healthy, growing economy, and people won’t be entirely deprived after having contributed up to 35 years into the social security ponzi scheme.
With increased tax revenues from a growing economy we would hopefully be able to reduce and eventually retire the debt.
However a fair tax and/or low flat tax would be necessary so the federal government doesn’t just enact the above referenced tax credits while raising taxes in general.
Now this would be change we could believe in and would incentivize and reward the work ethic once again, while recognizing the reality that the Social Security system as we know it is broken and we can’t fix it without substantial restructuring.
For those of us who are in our mid 50s and younger, we have to recognize that those Social Security “income projections” which we receive in the mail from the government are false promises and will never come to pass.
What bothers me is why the RNC allows Republican debates to be moderated by leftists. That is insane. Why don’t they get Hannity or someone like him to moderate? Who’s really running the show here?