PLAN FOR AMERICA
Benefits for ALL Americans!
Plan For America is full of wonderful and much needed benefits that exclude no one. Every American is poised to gain from PFA. From retirement to healthcare, debt-reduction to legacy-building, PFA affords America's citizenry the greatest social safety net in the world!
Below is a list of the important and powerful benefits that PFA can bring. For a more detailed breakdown, click the benefit to learn more.
ELIMINATES FEDERAL AND STATE DEFICITS AND DEBT ALONG WITH THE ESTIMATED $100+ TRILLION IN UNFUNDED LIABILITIES WITHOUT INCREASING TAXATION
A. Plan For America (PFA) is a systematic method that eliminates federal deficits, debt and unfunded liabilities. It operates on a two track path: first is an ever increasing cash flow along with ever decreasing liabilities.
B. The growing cash flow will come from the monies that presently flow into the payroll tax which amounts to 15.3% of what individuals earn. It totals over $1 trillion annually and will be placed into a trust for benefit of the participants. The trust will charge 2% per year which amounts to $20 billion in year 1 (2% of $1 trillion) and with another $1 trillion in year 2 which would be $40 billion and in year 3 another $1 trillion which would be $60 billion, continuing on indefinitely for an ever increasing cash flow which does not take into account any growth on the invested assets.
C. The ever decreasing liabilities (which would become funded by the trust) comes about because each year the monies deposited into the trust for each participant contributes to self-funding their Social Security which becomes their new retirement account. In 35 to 40 years, the retirement funds would be entirely self-funded and much of the repayment for the interest-free loans to pay the healthcare for the needy will have been repaid. This is the explanation of the ever-decreasing liabilities.
D. Once the unfunded liabilities are gone then the surplus generated by the trust (which by then will be $trillions per year) will be used to eliminate deficits and pay off the national and state debt.
E. This will not require any increase in taxation and actually involves tax reduction.
EVERY WORKER LEAVES A LEGACY
Everyone who contributes to or inherits a PFA account will have a legacy to leave to heirs. It makes no difference whether the account value is very large or very small. The tax-free cash flow that was going to the original owner will upon his/her passing be transferred to the heirs, estate and income tax-free. This money was earned by the participant and is not ceded to the government upon death.
TAX REDUCTION AT BOTH THE INDIVIDUAL AND CORPORATE LEVELS
A. The individual tax benefits include: repeal of the payroll tax for PFA participants and tax-deductible contributions to PFA account (15.3% of earnings annually) for retirement plus optional additional tax-deductible contributions up to $100,000 annually.
1. All premium payments for life, disability or health insurance obtained through PFA will be tax-deductible and all insurance benefit payouts will be tax-free.
3. The $1200 health savings account (HSA) premium which is part of the health insurance premium for the purpose of covering the annual cost of co-pays and deductibles, could be withdrawn tax-free at the end of the year to the extent it was not used.
4. Dividends on common stock of publicly traded, US based corporations will be tax-free to the owner of the common stock.
5. Under PFA all retirement payouts from the trust will be income tax-free and when it passes to heirs will be estate and income tax-free.
3. The $1200 health savings account (HSA) premium which is part of the health insurance premium for the purpose of covering the annual cost of co-pays and deductibles, could be withdrawn tax-free at the end of the year to the extent it was not used.
4. Dividends on common stock of publicly traded, US based corporations will be tax-free to the owner of the common stock.
5. Under PFA all retirement payouts from the trust will be income tax-free and when it passes to heirs will be estate and income tax-free.
B. The corporate tax benefit would be: making dividends on common stock of publicly traded US domiciled corporations tax-deductible.
COMPREHENSIVE HEALTHCARE FOR EVERY AMERICAN
A. NO PRE-EXISTING CONDITION EXCLUSION
B. Every American over the age of 26 would have his/her own comprehensive health insurance plan that covers pre-existing conditions and has no ultimate cap on the benefits.
C. Children can remain on their parent’s health insurance plans until age 26.
D. Comprehensive, high-quality healthcare insurance includes: among other features, dental, orthodontic, vision, prescription drugs, hearing aids, long-term care (nursing home) and virtually any other healthcare need.
E. Each policy would include a $1200 annual Health Savings Account (HSA). This $1200 is the maximum total amount of the deductibles and co-pays for each year. If any part of the HSA is unused in any year, the remaining funds are sent to the account holder tax-deductible.
F. Each policy would include a guaranteed issue option for life and disability insurance.
B. Every American over the age of 26 would have his/her own comprehensive health insurance plan that covers pre-existing conditions and has no ultimate cap on the benefits.
C. Children can remain on their parent’s health insurance plans until age 26.
D. Comprehensive, high-quality healthcare insurance includes: among other features, dental, orthodontic, vision, prescription drugs, hearing aids, long-term care (nursing home) and virtually any other healthcare need.
E. Each policy would include a $1200 annual Health Savings Account (HSA). This $1200 is the maximum total amount of the deductibles and co-pays for each year. If any part of the HSA is unused in any year, the remaining funds are sent to the account holder tax-deductible.
F. Each policy would include a guaranteed issue option for life and disability insurance.
HEALTHCARE AND RETIREMENT FUNDS ARE HELD IN A TRUST OUTSIDE THE REACH OF THE POLITICIANS
PFA would be established through a contract among the Federal Government, the 50 states and a private trust called the For America Security Trust (FAST). This protects the people’s funds from the politicians. If it was merely done through legislation, then a different administration and congress could undo PFA and the funds could be raided by the politicians in the same way that they did to the Social Security and Medicare trusts. A contract is safer and has penalties for any party that breaches their contractual agreement.
TRULY AFFORDABLE HEALTHCARE
Interest-free loans are available for those that would have trouble affording their insurance premiums. Annual earnings under $40,000 qualify for 100% of premium loan and those earning up to $70,000, on a phased out scale. These loans do not have to be repaid with out-of-pocket funds. They are repaid by the participant’s PFA account either before or after their lifetime.
PARTICIPATION IN PFA IS COMPLETELY VOLUNTARY
No one is compelled to Join PFA. Each American is free to remain in the present social programs: Social Security, Medicaid and Medicare, but the benefits to opt in to PFA are overwhelming. Also, if it were to be mandatory, then it could face some of the same obstacles that Obamacare did, possibly being in conflict with the Commerce Clause.
SINGLE PAYER FOR HEALTH, DISABILITY, AND LIFE INSURANCE PREMIUMS WITH NO ULTIMATE CAP ON HEALTHCARE BENEFITS
A. Single payer for healthcare needs has been an objective for many politicians and people, but there was never a plan to accomplish it on an affordable basis. PFA fulfills this objective and it does it through the people’s fully funded trust (FAST) and not depending upon a deficit and debt-ridden government that is running out of options.
B. Single payer guarantees the participants that they will not lose their healthcare or their insurance because of inability to pay premiums.
B. Single payer guarantees the participants that they will not lose their healthcare or their insurance because of inability to pay premiums.
ALL PARTICIPANTS KEEP THE WEALTH THEY HAVE CREATED
Stock market returns for growth
Government guarantees for safety
Government guarantees for safety
A. Each working American presently pays 15.3% in payroll taxes (7.65% from the employer and 7.65% out of the employee’s pay). This money goes to the government for the purpose of transferring money to retirees. Under PFA, the 15.3% of payroll will be a contribution to an account within FAST for the benefit of the contributor This account will remain in the name of the contributor for his/her lifetime and will transfer to the heirs thereafter – it does not get taxed or forfeited to the government.
B. These 15.3% of earnings contributions will be invested in an index of US domiciled corporations (historically returning over 10% compounded annually) – this is where the growth comes from.
C. The safety comes from the Federal Government guaranteeing the bonds that the trust (FAST) issues to pay the current retirees and healthcare recipients. At the same time the FAST its growing its cash flow to meet all obligations and then pay off all of its bonds and the state and federal government debt.
D. The FAST participants are guaranteed at least a 4% compounded annual return on their contributions to their accounts.
E. Also, no one (meaning the taxpayer) would have to pay for someone else’s healthcare.
B. These 15.3% of earnings contributions will be invested in an index of US domiciled corporations (historically returning over 10% compounded annually) – this is where the growth comes from.
C. The safety comes from the Federal Government guaranteeing the bonds that the trust (FAST) issues to pay the current retirees and healthcare recipients. At the same time the FAST its growing its cash flow to meet all obligations and then pay off all of its bonds and the state and federal government debt.
D. The FAST participants are guaranteed at least a 4% compounded annual return on their contributions to their accounts.
E. Also, no one (meaning the taxpayer) would have to pay for someone else’s healthcare.
DEMOCRATIZATION OF WEALTH
More equitable wealth distribution & closes income pay gap
A. Wealth will be more equitably distributed because the bulk of all publicly traded US based corporations will be owned and controlled by the workers and retirees. The corporate officers and board members will be working for them and the proxy votes will increasingly be controlled by the retirement plan of the people (FAST).
B. There will be far greater transparency because that is a condition for a corporation to be eligible to be in the FAST index.
C. The income pay gap would close because the proxy votes will be controlled by the workers and retirees who will have the ultimate vote. Also, the transparency requirement will expose abnormalities.
B. There will be far greater transparency because that is a condition for a corporation to be eligible to be in the FAST index.
C. The income pay gap would close because the proxy votes will be controlled by the workers and retirees who will have the ultimate vote. Also, the transparency requirement will expose abnormalities.