The Universal Savings Account (the “USA”)

Last night I introduced the Universal Savings Account (the “USA”) in a speech three of us from the Ownership Society Institute (OSI) gave to a group of Republicans in Los Angeles. It was enthusiastically received and we are immediately starting a grass roots movement to enact “USA” legislation at every level of government from the Federal to the state to the local.

Its enactment will immediately generate not only the biggest tax cut in American history it will also cut our national and local budgets in half. In the process it will extinguish almost all of our unfunded entitlement debt ($59 trillion and counting) and more immediately turn our economy around and head it to growth rates never seen before in American history - 10% to 30% per year for the initial years after its enactment.

Today our economy is shrinking because it is being managed by collectivists who want to “level the playing field” by “redistributing wealth and income” from the rich to the poor. That policy doesn’t create wealth it merely divides it.  The “USA” has been designed to be the greatest wealth creating policy ever enacted by any society in history. A smaller version of the “USA” was already employed in Japan after WWII to build a free Market capitalist economy. Their growth rates measured in the 30% to 70% per year range for ten years when their GDP went from essentially nothing to second only to that of the United States. We need to employ the “USA” to enjoy that kind of growth again.

The “USA” works on the  principle that 300 million people make better decisions on how to invest their money than any “command” economy could ever hope to achieve. One King, one dictator or one “Dear Leader” always ends up calling all the important shots in any “command” economy. As America is presently suffering from an attack of the “collectivists” being orchestrated by President Barack Obama the failure of all command economies and collectivist policies is becoming painfully clear.

President Obama has demanded and received stimulus legislation that will not stimulate. He doesn’t have an organization that can efficiently spend $787 billion – governments don’t have that kind of talent on staff.  His solution to high unemployment rates is the creation of “green jobs” like making windmills and solar panels that he believes will reduce our dependence on fossil fuels. Whereupon T. Boone Pickens a billionaire posed to privately build thousands of windmills in the Mid-West,  evaluated our President and his policies and abruptly abandoned his windmill project to concentrate on fossil fuel –  natural gas.

To a collectivist like President Obama “hope springs eternal” - they believe they can make their dreams into reality by calling for  “change.” No single issue should be examined more closely than “Universal Health Care (UHC).”   What he is proposing has been tried in many countries in the world and despite propaganda to the contrary UHC has reduced the quality and amount of health care wherever it has been implemented. 

The cost of any collectivist plan is the reduction in the capital pool (wealth) of a people and its “consumption” by direction of their leader. UHC will be extremely costly and highly inefficient as the incentive of those who run healthcare presently will disappear and be replaced by those who don’t care what they spend to employ their leader’s fantasy that government (of the elites) can dictate the salaries and compensation of doctors and specialists who spend four to ten years in training after college to make the kind of money medicine currently provides them. Those doctors and specialists will disappear and the shortages, wait times and rationing of procedures and medicines will make it painfully clear that the “common good” is not served by denying the rights of its practitioners.

The “USA” has been designed to pay doctors more that they presently get under the Medicare straight-jacket or what they would get under UHC..  A “USA” is a wealth creator with enormous potential for increasing salaries, wages and fees because it makes everyone wealthier and let’s patient’s decide which Doctor to go to.  That will bring competition into play and the internet can be used to find just the right doctor or hospital to use. A “USA” is universal – everyone gets one – it just creates wealth it doesn’t consume it. 

The enactment of “USA” legislation will also stop politicians from claiming to do the “common good” when their collectivist policies of higher taxes, suffocating regulations and punishing inflation are only sharpening the pain ordinary American’s feel when they “hope” for the “change” that will deliver the American Dream of financial independence. The “USA” will reduce taxes significantly, repeal regulations and rather than decrease the value of the dollar and the resulting inflation it will increase and stabilize the value of the dollar and eliminate inflation. It “will” deliver the American Dream to everyone.

President Obama and those elitists in Congress are pushing the country into more socialism with a force of effort never before seen in American history. The “USA” is the capitalist answer to his socialist policies and hopefully becomes a force of equal or greater measure that will throw socialism and Obama’s efforts in the dustbin of history. 

If you are a patriot and believe in our Founding principles of smaller government and lower taxes please join the Ownership Society Institute by going our website and becoming a member by requesting our free e-book that explains how a “USA” works.  We will shortly be going on Twitter and Facebook and will be using You Tube and PopModal to promote the “USA”.  Please join us – the people have to take back what government has confiscated from them.