tag:blogger.com,1999:blog-1495601837554159435.post5393094687083992540..comments2023-08-08T02:26:23.907-05:00Comments on Blog of Timothy, Son of Peter: My Top Seven Wishes for what Congress can do for our CountryTim Faragehttp://www.blogger.com/profile/08104599438906310838noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-1495601837554159435.post-65392269729757525922011-01-20T16:40:11.660-06:002011-01-20T16:40:11.660-06:00i was bored in one my classes and read this ... go...i was bored in one my classes and read this ... good stuff.. now we have to get it into action!... by we i mean you! haha! <br /><br />ps live long and prosperj-heezynoreply@blogger.comtag:blogger.com,1999:blog-1495601837554159435.post-56112741611983152010-11-05T00:17:13.686-05:002010-11-05T00:17:13.686-05:00Thanks to all for their comments. To Anonomous:
...Thanks to all for their comments. To Anonomous:<br /><br />1) With regard to the balanced budget amendment, I agree with your thought that defense, SS, and Medicare and Medicade are the largest programs. Nevertheless, they must be paid for somehow. So we either need to cut some of them or increase revenue. What I don't want is to just keep increasing our national debt, and pass on the debt to our chilren.<br /><br />2) It's hard for me to find an easy way to directly cut spending on Medicare for the last 3 months of life. But if we follow my suggestion of taking 10% of GDP and giving an equal portion of this to each American for their medical care, the health insurance policy obtained will not have infinite benefits. <br /><br />And this, in conjuction with a balanced budget amendment will provide good health care for all, with no unfunded liabilities.<br /><br />4) With respect to Social Security, if we were to turn it into a private plan, we'd be investing 12.4% for at least 40. years. If this were all put into a stock index fund (just to keep this simple) the average person would be rich, even if they retired during down periods. Since the average return over such long periods is 10-11%, the short term ups and downs of the market don't matter. And if you retire during a down market, you still don't take all of your money out. You might take 5% or 6% per year, and soon you'll regain what was lost.<br /><br />7) As far as school choice, it's true that we all have school choice now. But most people can't afford to send their child to any school other than their nearest public school. My plan would allow poor parents the same choices as those that are well-to-do. In every case I've read about where poor parents are given a choice with some sort of school voucher, they have loved it.Tim Faragehttps://www.blogger.com/profile/08104599438906310838noreply@blogger.comtag:blogger.com,1999:blog-1495601837554159435.post-22425341545796299882010-11-04T23:57:23.248-05:002010-11-04T23:57:23.248-05:00My thoughts.
1 - Balance budget always sounds nic...My thoughts.<br /><br />1 - Balance budget always sounds nice. If you don't increase revenues, you have to make significant cuts in defense, Medicare and Social Security to balance the budget. All the other stuff is small in comparison.<br /><br />2. - Most expenses by Medicare are in the last three months of life. Work with that and the problem is mostly solved.<br /><br />3. - Yay<br /><br />4. There are huge fortunes to be made in managing retirement funds locked in safe government accounts. SSA has 5% administrative cost to benefits. What insurance company come close to that? The million dollar scenario works well on paper in a a straight line growth curve based on long term averages. There are periods in which you can't get positive growth of any fund except US Treasury securities. If you need your fund when you retire, that fund may be way down and it may be that way for years. I know someone that happened to.<br /><br />5. Natural resource tax is a good idea<br /><br />6. I like building safe nuclear power plants<br /><br />7. Any parent can choose their child's school todayAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-1495601837554159435.post-13810190841442021772010-11-04T23:55:34.065-05:002010-11-04T23:55:34.065-05:00We'd all put our own spin on how to improve th...We'd all put our own spin on how to improve the nation, but I admire how you really spell out a method to do it -- Bravo!MaryAnnnoreply@blogger.comtag:blogger.com,1999:blog-1495601837554159435.post-59153350775250353162010-11-04T23:54:46.044-05:002010-11-04T23:54:46.044-05:00good onegood oneJimmyenoreply@blogger.comtag:blogger.com,1999:blog-1495601837554159435.post-1861687089451439552010-11-04T23:53:04.536-05:002010-11-04T23:53:04.536-05:00read your blog Tim..THUMBS UP!!!read your blog Tim..THUMBS UP!!!Rochellenoreply@blogger.com