You haven’t a clue, partner. It is the CHILEAN model. And it is basically private retirement accounts. IOW, phasing out SS as a Federal gubmint entitlement. Ask Galveston, TX how its working.
http://www.ncpa.org/pub/ba514
The SS Trust fund does indeed exist. It is full of IOUs. That money was spent.
Cain’s entitlement reform is a separate entity than 999. Job 1 is to get the economy booming. 999 will do just that if coupled with regulatory relief. Job 1.5 is drastic spending cuts and downsizing the fed gov’t (BTW, many thousands of IRS workers will be sent packing by 999). Job 2 is entitlement reform. Any President that gets these things done will be carved onto Mount Rushmore.
The point, which you evidently missed is that Herman has no entitlement reform included in his 999, Brazilian, Chilean or otherwise.
There is no SS Trust Fund and worthless IOU’S does not one make.
And furthermore only folks who have never run a business are gullible enough to believe that sales tax auditors are less onerous than income tax auditors.
In fact a national sales tax enables the federal government to reach down into intrastate commerce and put you daughter in jail if she doesn’t collect and remit sales tax proceeds for her baby sitting duties.
Comprende genius?