Financial Empowerment Act

From dKosopedia

Category: Proposed Legislation

Add your ideas below! Let's get our financial infrastructure back on track!

1. Remove the cap on Social Security Taxes. Completely.
2. Fully fund and raise Social Security benefits to something that people can live on.
3. Fix the Medicare Part (D) so we can negotiate and lower prices.
4. Introduce opt-in savings plans ON TOP of the SSA tax so that people can save more than they do now directly out of their paychecks, totally tax free including retirement withdrawals when the time comes.
5. Activate the lock-box and make Social Security and Medicare accounts 100% untouchable by Congress.
6. Give the SSA the power to adjust the tax rate to what is necessary to keep up with benefits, with congressional oversight. Force them to balance their budgets.
7. Keep the internal workings of the SSA completely out of private hands, but put the money in local community development banks so those banks can contribute to the renewal of our society.
8. Include funding for a nation-wide education program for students and workers so we can all learn how to save money, invest it wisely and use the power we have as shareholders to make our voices heard in the boardrooms.
9. Require banks to create savings accounts where half the interest goes to a charity of your choice, and the other half goes to increase the account balance. Encourage people to save at the same time they are funding the causes that they support.