Why Dump Social Security and how

In order to bring the budget down and make social security solvent I propose the following.
People age 56 and above will continue to get the current benefits. People age 50 to 55 will have a choice. Put 25% of the total social security contribution in a 401K type vehicle and take a 25% reduction in social security benefits or continue the way it is. People age 40 to 49 will put 50% of the total social security contribution into a 401K vehicle but will get a 50% reduction in social security benefits. People age 30 to 39 will put 75% of the total social security contribution into a 401K vehicle but will get a 75% reduction in social security benefits. People age 20 to 29 will put 100% of the total social security contribution into a 401K vehicle but will get a no social security benefits.
When I say total social security contribution I mean both the employee and the company contribution. As a side benefit 401K distributions will not be taxable and they will be able to add up to 5% more to their 401k's. Business will be able to write off their contributions from their income taxes. Individuals will have to claim it as income.
The 401k must be in mutual funds and must be reviewed by the House finance committee, approved by both houses of Congress and signed by the President. Investment firms must apply for the right to handle the funds. The firms filing must have a group of offerings, for the people to choose from, in their package.
People may start taking distributions at 59 ½ and may retire at 65 years of age. People starting this at 40 or above may make as much income as they want when retired and only pay taxes on 50% of that income. The federal government may never again control any of the funds for the peoples retirement.

How the middle class became the underclass
http://finance.yahoo.com/news/How-the-middle-class-became-cnnm-2876148381.html


Alex Jones
http://www.infowars.com/
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