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Social Security, Medicare, and Pensions

  • Revert Social Security and Medicare to a safety net based on need
  • Transform all government pensions – Congressional, military, civilian – to fully funded, self-directed, defined contribution plans

  • Base Social Security and Medicare eligibility on need
  • Raise Social Security and Medicare eligibility age for future participants to parallel changes in life expectancy
  • Eliminate Social Security (FICA) and Medicare taxes for employees and employers
  • Put all Social Security and Medicare expenditures "on budget" (paid from current revenue instead of trust fund)
  • Draw down Social Security trust fund to meet current liabilities and commitments

  • Maintain current benefits for current program participants
  • Fund all programs in current year and eliminate future taxpayer liability
  • For future Social Security and Medicare participants, phase in sliding scale for benefit reductions as participant income increases
  • Encourage individual savings by replacing all tax-deferred accounts with single $25,000/year contribution to one account, allowing "catch up" contributions in subsequent years.