The Niihau Plan
© Copyright 2012 M7C
Social Security Reform:
In place of a set amount of Income Tax for Social Security,
we propose a 20% Retirement Bond, per 1 month of work, which is tax-exempt with
no age requirement necessary to cash-in.
Disability Bonds would exist but would only come from normal
Taxes.
Social Security Retirement Bonds would be cashed-in like
normal bonds, per SSRB Accounts.
Each bond would represent one month of work, with varied
amounts of Bond value:
Say a person earning $50,000 per year would create $10,000
in SS Retirement Bonds per year, or less than $1,000 per month. This amount of 20% is deducted from the
paycheck prior to payment. Unlike current
Social Security, this SSRB can be cashed-in at any age, not just when one is
Elderly (65+ yrs old), and can be treated as tax-exempt earnings after a set
amount of time, as with normal Bonds. The
only difference is taxable Interest, if any exist after a set date of Bond
Maturity has expired.
As Social Security exists as a form of savings for
retirement, why not save money as Retirement Bonds?
© M7C 2012, Pharaocracy of Niihau, Hawaii USA
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