Partisan Solution Offered to Fix the Social Security/Medicare Programs Now
Republicans Want Tax Cuts, Democrats want Entitlements – They each can have more of both under “Rise Up” – and that is big news. In Dick McDonald’s New FREE e-book which you can download at www.riseupeconomy.com/freebookrequest.html he explains how we can enact the biggest tax cut in American history and at the same time solve our Social Security/Medicare funding dilemma thereby assuring the retirement security of older Americans. He explains and demonstrates how under his Rise Up Theory of Economics Republicans get a huge tax cut for the American people and an enormous infusion of funds into the capital markets to fund new businesses, innovation and new jobs while at the same time Democrats get the poor and middle-class a pool of capital to invest and grow into millions ( that they own personally) as well as a tax cut that favors the poor and middle-class. What the Trickle Down Theory did for the rich, Rise Up does for the poor and middle-class.
Chatsworth, CA (PRWEB) August 27, 2007. Author Dick McDonald makes the case that both Republican and Democrat voters (96% actually) want their parties to address and solve the Social Security/Medicare funding mess that the politicians are ignoring. They want it done now. The voters DO NOT WANT benefits cut or more taxes imposed to pay for the failures of past Congresses to adequately fund these entitlement programs. Their kids do not believe those benefits will be there for them when they retire, The problem is that neither party wants to cut the size of government and return any power or money back to the people – they want all the tax revenues so they can pay partisan favors. Dick McDonald develops a plan that would do the “people’s business”. By cutting the national tax load almost in half and reducing the country’s annual budget by half, the needs of the American people are served.
Under Rise Up, the average household earning $40,000 a year would end up with a $3.2 million nest egg at the end of a 40-year working life and a $28,000 a month retirement check. (2007 dollars) McDonald provides detailed schedules on just how that works. See the tables at www.riseuptheoryofeconomics.com Under the old Social Security there is no nest egg created - just a paltry monthly check until you die. McDonald asks how can a nation invest 15% of the income of its workforce for 40 to 50 years and the workers end up with no “investment” whatsoever? On top of that If you believe the economists, there will be no monthly retirement check either. Remember today those checks just average over $1,000 a month – just enough to avoid starvation. The people want a change and it is up to the American public to ask their politicians why they cannot adopt Rise Up.
McDonald, a lifelong "tax man", first as a CPA for an international accounting firm and then as a tax shelter promoter, turns his focus and energies from helping the rich save taxes and get wealthy to helping the American worker become rich.. For ten years he prepared J. Paul Getty's personal and trust income tax returns. His plan warrants your attention.
In his book McDonald exposes why the poor and middle-class seldom have enough money to retire on. The reason he explains is that they never acquire a pool of capital to invest in the American economy and benefit by its growth and built-in inflation. In the "Rise Up Theory of Economics" McDonald gets them that pool of capital and does it with their own earnings. Instead of forfeiting the ownership of the 15.3% of their lifetime earnings paid to the government in the form of payroll taxes, McDonald suggests that those monies be invested during an American's working life in a PERSONAL INVESTMENT ACCOUNT which will grow into a million-dollar nest egg OWNED by the individual worker. CONGRESSMEN AND SENATORS HAVE these "personal accounts." WHY NOT ORDINARY AMERICAN TAXPAYERS?
UNDER RISE UP, THE GOVERNMENT WOULD GUARANTEE THAT ALL BENEFITS PAYABLE TO RETIREES UNDER THE OLD SYSTEM WOULD BE HONORED. THERE WILL BE NO DANGER THAT PENSION CHECKS OR MEDICAL BENEFITS WILL BE CUT; IN FACT DEPENDING ON THE SUCCESS OF RISE UP THEY MAY BE RAISED.
Enacting Rise Up legislation is what ordinary Americans want. Congress has made the excuse there is little discretionary room in the budget because of "mandated entitlements." Rise Up replaces mandated entitlements. It eliminates that excuse.
Get Dick McDonald's new e-book "Make the Poor Rich and America Wealthier" FREE by clicking www.riseupeconomy.com/freebookrequest.html
The Ownership Society Institute has been formed to promote the Rise Up Theory of Economics. You can help by contributing to the cause and spreading the word.
Dick McDonald, Managing Director
Ownership Society Institute
9662 Jumilla Avenue
Chatsworth, CA 91311-5610