A Plan to Restore Individual Liberty and Economic Freedom in the United States
1. Return power to the states by passing the Freedom Amendment. The Freedom Amendment shifts power from the federal government to the states by restoring state control of the Senate as originally intended in our Constitution and making the federal government dependent upon the states for the revenue to finance social programs, earmarks, and other vote-buying programs. Decentralization of power is a necessary condition to restore individual liberty.
2. Create 25+ million net new jobs to reduce dependence on social programs. This is the best way to reduce spending. We can create 25+ million new jobs by reducing the cost of taxation, regulation, litigation, health care, and oil (see The Freedom Plan, The Freedom Plan for Health Care Finance Reform, and The Switch and Drill Plan).
3. Change welfare programs from handout-based to loan-based to reduce the burden on taxpayers. Provide a helping hand, not a handout (see Welfare Reform for more information). We cannot simply “cut” social spending. We must provide an alternative that costs taxpayers less.
4. Replace ObamaCare with a medical credit card program (see The Freedom Plan for Heath Care Finance Reform). We cannot simply repeal ObamaCare. We must replace it with a better alternative.
5. Reduce the cost of living to help those who struggle to make ends meet. This is a key aspect of economic freedom. If someone works and makes only enough to buy basic necessities and pay taxes, then he is a slave of the government. Reducing the cost of taxation, regulation, litigation, health care, and oil will reduce the cost of doing business and consequently the cost of living.
6. Allow people to opt out of Social Security provided that they have a retirement plan of their own and finance Social Security from general tax revenues. See The Freedom Plan for more information. The current Social Security program acts like a regressive tax, helping to “keep the poor, poor,” because it denies low-income individuals and families an opportunity to access the wealth-building mechanisms within the economy. A 25-year-old individual today, making $15,000 per year until he retires at age 67, could have as much as $3.8 million in his IRA under the Freedom Plan if he lives to age 90 and receives a 10% annual return on investment. The value of this IRA provides a measure of the “opportunity cost” imposed on low-income individuals and families by the current Social Security program. This opportunity cost represents the actual Social Security “tax” paid by the individual and his heirs. An individual who enjoys economic freedom should not be forced to pay this insidious, regressive, and Draconian tax.