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Get Ready To Pay $500 More In Taxes
January 9, 2017
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VEST THE ACCOUNT IN THE INDIVIDUAL WORKER'S NAME. ALLOW FOR NAMED BENEFICIARIES. FOLLOW MOST OF THE EXISTING RULES FOR DEFINED CONTRIBUTION PLANS. AS THE PROGRAM STANDS TODAY IT IS TRULY A PONZI SCHEME. ALLOW CURRENT WORKERS TO STAY WITH THE PRESENT PROGRAM IF THEY WISH. IF THEY OPT FOR VESTING THEIR BENEFITS WILL BE BASED ON THE ULTIMATE BALANCE(S) IN THEIR ACCOUNT. CURRENT CONTRIBUTIONS REMAIN EXACTLY AS THEY ARE WITH THE EMPLOYER MATCHING THE EMPLOYEE'S CONTRIBUTION. ANY SHORTFALL TO MEET BENEFITS TO COVER THOSE IN THE PRESENT PLAN CAN BE COVERED OUT OF GENERAL TAXES. THE GOVERNMENT CAN MORE THAN AFFORD THAT.