Simple Entitlement/Tax Reform

NoSpeedBumps proposes:

  1. – Begin mandatory Retirement Savings Accounts (RSAs) and phase out Social Security
  2. – Begin mandatory Health Savings Accounts (HSAs) and achieve universal health care coverage, phase out Medicare and Medicaid
  3. – Implement a loophole-free Effective Flat Tax (EFT) that has a completely flat perceived rate

Read the whole thing to understand why this is actually very progressive and very much saner than our current system.

Philosophically I prefer taxing estates to taxing income, but that is a subject of another post. If we are going to stick with income, this is a good way to do it.

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