Social Security the problem: When the time comes you can no longer consistently depend on the strength of you body to provide you income, then you need to depend on your mind, or your ownerships, or you will have nothing outside of friendships to offer anyone to help keep you alive.
The solution to this problem starts with turning the existing system upside down. Take the current social security tax collection system and keep it in tact. The most cost effective way to change the system involves keeping the entire infrastructure in place and then reprogramming the output. All social security taxes on the persons first $30,000 goes into an ownership account, accessible at some future date for that individual.
A person’s first obligation to society is to take care of their individual self. An obligation to society means the individual owes a financial debt to society that is paid to the government of that society. A person’s second obligation to society is to take care of others. Subsequently the tax from the income over $30,000 goes into a protected fund to pay benefits to current Social Security recipients.
When the current social security stop tax income level is reached, the individual has paid off the social debt to pay for others. The first principal of society needs to be that a citizen must be able to satisfy any debts. In other words, society can not burden an individual with a permanent debt to the government. This provision is essential to a truly free society governed by citizens elected to and authorized to administer temporary power. Social Security taxation must have both fixed annual and fixed lifetime limits.
The solution to this problem starts with turning the existing system upside down. Take the current social security tax collection system and keep it in tact. The most cost effective way to change the system involves keeping the entire infrastructure in place and then reprogramming the output. All social security taxes on the persons first $30,000 goes into an ownership account, accessible at some future date for that individual.
A person’s first obligation to society is to take care of their individual self. An obligation to society means the individual owes a financial debt to society that is paid to the government of that society. A person’s second obligation to society is to take care of others. Subsequently the tax from the income over $30,000 goes into a protected fund to pay benefits to current Social Security recipients.
When the current social security stop tax income level is reached, the individual has paid off the social debt to pay for others. The first principal of society needs to be that a citizen must be able to satisfy any debts. In other words, society can not burden an individual with a permanent debt to the government. This provision is essential to a truly free society governed by citizens elected to and authorized to administer temporary power. Social Security taxation must have both fixed annual and fixed lifetime limits.
