Saving Medicare

The Budget Control Act passed in August of 2011 stipulates that failure of the “supercommittee” and Congress to act on further future deficit reduction will trigger across-the-board cuts of $1.2 trillion dollars starting in 2013. Most Medicare spending would be reduced by 2 percent a year1. Regardless of how the 2 percent a year reduction … Continue reading “Saving Medicare”

The Graduated Flat Tax — A Good Approach (Nov 2011 Update)

The method for calculating the amount of tax that any citizen would owe using my proposed graduated flat tax approach is as follows: The first $20,000 of income for all individuals would be tax free. The next $80,000 of income (amounts between $20,000 and $100,000) would be taxed at the rate of 10%. The next … Continue reading “The Graduated Flat Tax — A Good Approach (Nov 2011 Update)”

Saving Social Security

A few relevant facts are listed below: Over 2.5 trillion more dollars was paid into the Social Security Trust Fund between the years 1983 and 2011 than was paid out of the fund in benefits. The national government borrowed the surpluses and issued special series treasury notes and bonds to be repaid to the Social … Continue reading “Saving Social Security”

Jobs

There are now approximately 14 million U. S. citizens unemployed. Although jobs are the top priority of American citizens, the U. S. government is doing very little to create jobs. It takes gross domestic product growth of around 3% for a full year to reduce the unemployment rate by 1%. Most economists are projecting growth … Continue reading “Jobs”