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