Art Laffer did the math and said that Cain’s plan would generate what we’re getting now... more after the economy took off.
The funding of SS and Medicaid has been disingenuous for a long time. It was supposed to belong to *that* person - a separate account.
Well, the democrats blew the lid off that a long time ago.
For years now, the money has been coming out of the general fund.
Cain just stops the subterfuge.
But I trust Art Laffer. If he says that it’ll generate enough money to meet all of our obligations, then it is so.
You like Cain have not answered the question or given a coherent explanation. So once more and read slowly so maybe you will comprehend. You may trust Laffer all you want, but did you verify?
With no payroll tax, what happens to SS and Medicare which are now funded with payroll taxes. If no SS or Medicare as now known, what will replace them?
Current SS payments to retirees are based upon how much the individual has paid in. With no one paying in to SS, how will payments, if any, to elderly then be made? How much, if any?