May 25, 2011
I believe it was May 20, that I emailed my idea of Debt Reduction to Senator Schumer and others.
I sat down and calculated how much it would amount to :
Tonight i Googled Food Stamp recipients in US and also Social Security recipients .
Here are the results :
In July 2010 41,8 Million were on FOOD Stamps.
in 2008, we had 38,690,169 million people were on Social Security.
In my previous calculations i stated 40 million Food stamp recipients and about same for Social Security.
So, for the sake of Simplification , I will work with 40 million Food stamp recipients
and 40 million on Social Security.
The idea was that since the GOV sends out the Food Stamp and Social Security every month ................IT CAN withhold ONE DOLLAR as a contribution from those citizens to the US DEBT REDUCTION plan and their part in the SHARED SACRIFICE idea.
This will mean that every month the GOV will withhold only ONE DOLLAR to PAY down the US DEBT for 80 millions citizens .
80 million dollars per month ............multiplied by 12 = 960 million dollars per year
Since the RYAN and other plans calculate for 10 years,
my idea will bring down the DEBT by 960 million multiplied by 10 years will amount to....................... 9,600,000,000 dollars .
SO, the other citizens can also contribute voluntarily, and also the IRS could deduct at least 12 dollars from every Income tax filer.
Also, the 1040 Form can ask how much would you like to CONTRIBUTE to the US Debt REDUCTION plan. ALL patriotic citizens would willingly give some dollars on top of that 12 dollars.
The US Treasury would also announce in a Press Conference another way of CONTRIBUTING by check or bank direct deposit for those who would like to give more.
Every week, the US Treasury would give on a site the TOTAL amount people have voluntarily contributed. Plus the TOTAL SAVED /collected so far.
This is a serious effort on behalf of ONE American Citizen to make it possible to arrange for SHARED SACRIFICE in order to help AMERICA pay down its DEBT.
May those who feel the same , help make it a successful venture.
