Kinda awake from events last night :-) Back on topic - re FICA : A week or so ago, I saw a TV doc, saying the US population is expected to increase to 300M people, from the current 280M, over a 10 year period, and most of the increase will be from working migrants.
With that as the basis, it indicates to me, that "from the baseline of 280M, we expect a 7% increase in working population per year". Let us assume, that there will be family/kids etc that are not working, and therefore work on the basis of 4% increase per year from the baseline.
Simple as it may sound, why not give every taxpayer 4% in the 1st year, 8% in the 2nd year etc, from their FICA contributions, which they can manage themselves ? working on 4%/year, gives a 25 year period to phase out the current Ponzi scheme, and let the people decide how to make use of their money. |
