No Diplomas? – Still Live the American Dream

Education has been credited with lifting many poor people out of the depths of poverty and delivering the American Dream to them.  It is tragic to see endemic poverty like we saw in the wake of Katrina and be unable to do anything about it. Today a book comes out with a plan to deliver that dream to millions in America who because of circumstance or environment were and continue to be denied the opportunity to get the educational tools necessary  to  “make the big bucks” in America. This new book mathematically proves as well as illustrates by charts it can deliver that dream to the working poor as well as the middle-class.

CHATSWORTH, CA (General Release) August 28, 2007.  Dick McDonald has authored a new book which illustrates that if the people change a method used by their elected representatives to tax and spend their money, they can deliver a greater prosperity to America and all its citizens -- including the working poor and the middle-class -- particularly those without the educational tools to reach the American Dream.

Seventy per cent of Americans polled want this change immediately enacted but their elected representatives and presidential candidates are ignoring it. That change is simple. Everyone knows Social Security and Medicare are in desperate straits. Kids know those programs won’t be there when they retire. So McDonald reasoned why not kill a flock of birds with one stone.

Let’s replace the failed Social Security and Medicare programs with personal accounts program not administrated by government wherein the 15.3% of the lifetime income of working Americans now sent to the government as payroll taxes is placed in a personal investment account owned by the taxpayer and allowed to grow into million-dollar nest eggs. During their working life the taxpayer would be able to direct the investment of their monies into several safe indexed stock and bond funds.  See the Tables at   for mathematical proof.

A long-haul truck driver without a high school diploma that makes $60,000 a year would end up after 40 years with a $4.8 million nest egg and a $40,000 a month retirement check – see tables referenced above. On that kind of a retirement check, the man and his wife could afford an affluent retirement and the best medical care on the planet – and he didn’t have the educational tools to make the big bucks. Under present Social Security and Medical benefit tables he will be lucky to get $1,500 a month and no nest egg.

What McDonald reveals is that it isn’t education that is the impediment standing in the way of ordinary Americans reaching for and achieving the American Dream. In the long run it is the poor method of funding retirement by taxing current workers to pay benefits to current retirees. If those funds were saved by the taxpayer in his personal account and put to work in the capital markets during his or her lifetime, the taxpayer and in fact all taxpayers would become wealthy.

McDonald’s personal account program is almost identical to the one Senators and Congressmen and 3.3 million Federal workers have that has been working for almost 20 years. That “personal account” program has proven that the critics that say personal accounts are too risky, too costly and too expensive to transition to are just unsupported fabications - the history of this government program proves its viability for ordinary Americans.

The “Rise Up Theory of Economics” is the fancy word McDonald uses to describe his overall plan. It does for the poor and middle-class what the “Trickle Down Theory of Economics” did for the rich.  Ask your Congressmen or Senators and your talking heads if they plan to support personal account legislation and why they are ducking this issue.

To do something about your future and the future of your kids and grandkids get the payroll tax load off their backs then get a FREE copy of Dick McDonald’s e-book “Make the Poor Rich and America Wealthier”. You can download it to your computer at

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
Tel    818-998-6800
Fax   818-998-6700