Posted: Apr 27, 2005 By: Joseph Peters

Subject: Joseph Peters’s plan to integrate social insurance with income tax.

Comment: Advantages:

– same tax bracket for everybody yet net tax rate is progressive.

– equitable to both taxpayers and social security recipients.

– automates social security increases and effective tax rates.

– eliminates social security trust fund liability.

– self-adjusting for inflation.

– all social insurance payments including social security pensions ,welfare, disability,
and unemployment are incorporated in a single national scheme. The payouts
are linked to gross payroll receipts so that government deficits are prevented.