"THE ESSENCE OF CIVILIZATION IS , THE STRONG HAVE THE DUTY TO PROTECT THE WEAK. WE SHOULD ALWAYS ERROR ON THE SIDE OF LIFE. ".…GEORGE W. BUSH on 03/ 31/05 THE RANGLE FIX This is the simplest fix of a large group of patches available. Due to the fact that the number of live births is at 4 million per year and, rising a patch is all that is needed. The Presidents Plan does not fix the short fall, and it produces 3 to 4 trillion in new debt. All the Presidents speeches and all the presidents talking heads can’t pay the bills of the boomer’s. No amount of F.O.G. SPREAD THROUGH OUT THE COUNTRY, to confuse and confound the issue will fix the short fall. The only way to correct the imbalance is to pay the tab. The solution is going to cost money. Any one who tells you different is LYING TO YOU. THIS IS LIFE THE REAL MASHUGENA . THERE ARE OVER 50 MILLION PEOPLE WHO WILL FALL OFF THE RADAR OF THE ECONOMY IF THE SSA TRUST FAILS. This is 1/5th of our population. If there is one among you who thinks that won’t cause a recession on it’s own, then he/she is living in a fantasy world. The SSA TRUST must be stabilized, then MEDICARE and MEDICADE can be dealt with. The simplest way of doing this is the Rangle plan. 1.89 to 2 % increase in the FICA Tax . This amount is ~ 13.79 @1.89% per week per worker @ 35k/yr salary. Simple to start and easy to repeal when no longer need. This plan will only by time to deal with MEDICARE and MEDICADE. As a result the SSA Trust will be stable . SOME BASIC REQUIREMENTS FOR A PRIVATE ADDITION TO THE SSA BENEFIT. • This is in addition to the SS FICA • There is a higher limit on the annual contribution say 20k dollars/year. • The FICA salary cap shall rise to $140,000.00 . • The money is exempt from state and federal tax. • The money grows tax free • The money can be available from say 59 to 64 on, as a monthly pay out over 30 years. • THE CONGRESS IS PRECLUDED FROM ANY FORM OF BORROWING FROM THIS ACCOUNT, THE EXECUTIVE BRANCH IS PRECLUDED FROM ISSUING ANY PROCLAMATIONS OR EXECUTIVE ORDERS ATTACHING OR USING THESE FUNDS FOR ANY PERPUS OTHER THAN THE BENEFITS OF THE OWNERS . FURTHER THERE WILL BE NO COMMINGLING OF THESE FUNDS WITH ANY OTHER AGENCY OR BRANCH OF THE U.S. GOVERNMENT. NO LIEN OR ATTACHMENT OF THE "PRIVATE PLAN’s" LEGALLY OBTAINED AND DEPOSITED FUNDS BY ANY COURT, JUDICIAL ENTITY, OR ENTITY WILL BE PERMITTED BY THE U.S. GOVERNMENT. THESE FUNDS WILL BE INVESTED AND MANAGED AS A BOND FUND. THE OBJECTIVE WILL BE OPTIMUM LONG TERM YIELD . ALL US GOVERNMENT ISSUED AND GUARANTEED OPENLY TRADED US GOVERNMENT BONDS AND NOTES , OF ALL MATURITIES SHOULD BE USED AS NEEDED . • The operation of the "private plan" should mimic the operations of a bond mutual fund. • Interest compounding and, pay outs should be made quarterly . • A $ 3.00 minimum per week contribution with a $20,000.00 yearly maximum . • Extra deposits should be accepted via inter bank money transfers or EFET deposits to the account, also deposits can be made at any bank cash or check . Subject to the prevailing money laundering laws on the books . • All deposits will be tracked by SSA and reported to the IRS as exempt income ( not taxable ) but reported . • The total of all deposits will show up on the W - 2 form . • The amount to be deposited via weekly payroll deduction should be easily changeable, up or down . • The interest paid is as close to the coupon as clipped value as possible • Once the agreed upon retirement age is reached the right to start, stop and restart benefit pay outs should be available. • Each baby born an American Citizen at the issuance of his / her SS card will have 3.00 dollars deposited into his / her private plan, as a one time retirement grant. The Idea here is to reach the first $ 1000.00 in the account A.S.A.P. . For a new worker entering the work force and, living at home with his /her parents making extra deposits as savings would make for an comfortable retirement . When this worker moves up the pay scale increasing the weekly deposit and or making extra deposits will further increase the additional income provided by the " private plan " The power of large scale buying of bonds can reduce the fixed cost of the operation to the .5 % to .2 % level. This plan has the potential to transform the idea of retirement living. This plan can double the safety net for new workers entering the labor pool. In order for us older folks to take advantage of this system we would have to increase the amount of our initial deposits. The best use for us older folks would be an cash trap , say after the sale of a house, what should you do with 50k excess profit ? shelter 20k , and let it turn into over $159,000.00 in 15 years . That points to the 6 trillion dollar question, why has not the brain trust that Bush has assembled figured this out . Is there some other reason why some thing like this is not on the table and, up for debate . There is some thing going on and they are not talking. WILL SOME ONE IN THE ADMINISTRATION PLEASE TELL THE TRUTH, WHAT IS GOING ON. This plan will enhance the savings rate in the country. The number of seniors on welfare will decline . The spending power of seniors will start rising just as the population starts to gentrify. As the baby fizzle of the, late 70's early 80's, moves to the workforce center stage, the spending power of the retied will be on the rise. To days pre-tweens will be entering the work force with their greater numbers and, will have spending support to maintain job growth. The pre-tweens will have at least a chance to establish themselves as an economic force. The number of seniors retiring to poverty should begin to approach 0 , because of the doubling of the safety net benefit. This plan has one goal to produce more customers. This country needs more customers with money. GROW OR DIE
So says our inferious leader
Let's stop thinking like a poor man, why have 1 SSA plan that may or may not yield a profit, when you can have 2 plans that will both be profitable. Why take a risk that in normal circumstances a NASD registered securities sales professional would not sell to you. The Bush plan is A BOONDOGGLE. Any one who has passed the " series 7 "
knows this is an " inappropriate investment " for the majority of seniors. This is not privatetization it is a BOONDOGGLE rip-off, of the American public. This plan is PORK for the F.O.G. on wall street.
Study the Rangel plan it will produce double the income for the retiree that the Bush plan will.
WE NEED MORE CUSTOMERS
SSA has done its job and much more the RNC has been trying to load the program up with all the debit they can toss on and it won't die. Now is the time to add an extension to the safety net. The Rangel Fix Plus addition should make retirement poverty obsolete. We must take action now to fuel the economy of the next century. The Rangel Fix private plan if implemented would add the needed fuel. Note retirement savings start at issuance of the SS card near birth. We may not be able to solve all of our problems but we can , and should fix the problems for the following generations
Compare Bush's plan to this plan to fix SSA and create a extension to the SSA safety net.
