Now is the time to explore serious, alternative free market
solutions to fix our broken Medicare and Social Security
system, instead of asking Americans and their employers to
embark on a grandiose experiment in socialized medicine.
Such an experiment could drive federal taxes up by 80%.
“House Democrats are weighing an expansion of the government’s role in health care that would include a mandate that employers provide coverage to all full- time workers or pay a percentage of their payroll to the Treasury,” reportsBloomberg News.
“It sounds to me like the government is about to mandate participation in the biggest Ponzi scheme since The Social Security Act of 1935! “ says Swiss America CEO Craig R. Smith.
Proposed Free Market Solutions
Every year consumers pay more and more for healthcare. About 50 million American have forgone coverage due to the astronomical price of premiums. Businesses are also hemorrhaging under the weight of rising costs.
The Medicare and Social Security crisis requires a substantial overhaul of the system. It's time to get the government's hands out of our pockets and instead allow the free market privatization of our retirement options. Great Britain and Australia have both proven privatization of Social Security to be successful. Privatization produces; more income, boosts private savings, triggers economic growth and minimizes tax burdens.
“Government barriers to free trade stifle competition, with disastrous results. The absence of robust competition artificially inflates the cost of insurance, preventing millions of Americans from purchasing affordable coverage. This shifts the cost burden to those who pay for insurance and to government programs. To reverse this, competition must flourish,” reports Michael Ciamarra, a Fellow with the Center for Health Transformation.
“One approach the president may want to explore is a targeted new take on an old national standby--the savings bond. It's a proven method for financing. It's something many Americans are familiar with. And if it's structured properly--to give bond buyers a real piece of the budget savings that health care reform is expected to produce--a new form of Health Savings Bond could be well-matched and well-timed for this specific enterprise,” reports Dan Gerstein atForbes.com.
Last time health care reform was up for serious public debate in 2004, we supported CATO Institute's Social Security Choice plan calling for half of the payroll tax (6.2%) to fund existing retirees and to allow individuals to divert the other half into privately invested accounts.
Now is the time for financial accountability America! Let your elected leaders know how you feel. If you would like a complimentary copy of our Special Report “Social Security: The Problem and Proposed Solutions”. Part I of this Special Report is postedhere.
