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Third Party

Third Party policies will always be (1) mainstream rather than "moderate", (2) reasonable, (3) fair, and (4) practical.

Privatize Social Security

We believe in privatizing Social Security because it's controversial (when understood), unaffordable, and unnecessary.  Privatizing Social Security saves tax payers $4 billion dollars annually and empowers Social Security recipients more personal flexibility in planning for retirement.

1 

Educate Citizens on How Social Security Works

Most people think Social Security is simply putting money aside into your own personal account for use during retirement (65+), just like a 401(k) or IRA.  In reality, this is completely incorrect and most of us are actually thinking of PRIVATIZED Social Security.  In actuality, Social Security is taking taxes from people currently working and giving it to people who are no longer working (retired). 

 

Some think this is robbing Peter to pay Paul, but as far as Third Party is concerned, it's simply a controversial practice, and we thus don't support it.  Instead, we advocate making Social Security work the way most people THINK it works, and thus WANT it work, where each individual funds their own personal account, a more mainstream and sustainable approach.

2

Retirement Income Bounty (RIB)

Third Party proposes the Retirement Income Bounty (RIB), a government program that pays a $18,000 bounty reward to anyone who helps a SS recipient:

  • Receive $1,500/mo in passive income (replacing Supplemental Security Income)

  • The passive income is received for 12 consecutive months

  • The passive income is exclusively sourced from the private sector. 

 

Effectively, the bounty hunter privatizes SS for 1 individual for 1 year, securing a sustainable SS alternative for that individual, and saving tax payers an average of 12 years of SS payments to that individual.  The bounty is equal to 1 year of SS payments ($18,000 = $1,500/mo X 12 mo), since the next 11 years (expected) do not need to be paid.  Overall, this slashes SS costs by 91.6% (11 of 12 expected years are privatized).  Lastly, we avoid RIB abuse by setting a maximum of 1 bounty per SS recipient, requiring a bounty hunter to get multiple bounties only by helping more SS recipients.

3

Example

Mega School 1's IWIG program includes a passive income component, which could help privatize a construction worker's Social Security.

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For the construction worker

  1. Enroll in RIB (as a SS recipient)

  2. Enroll in Mega School 1's IWIG program

  3. Receive $1,500+/mo in passive income through IWIG program for 12 consecutive months.

  4. Report Mega School 1's eligibility for RIB Bounty to the RIB program

  5. Permanently forfeit Supplemental Security Income

  6. Decrease his Federal tax burden

    1. His ​SS forfeiture, along with all others', decreases the government's need to pay SS benefit payments

    2. This means less need for SS taxes

    3. Politicians are more likely to decrease Federal taxes that affect him and other forfeiters

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For Mega School 1

  1. Enroll in RIB (as a bounty hunter)

  2. Help construction worker get $1,500+/mo in passive income for 12 consecutive months via IWIG program

  3. Receive $18,000 bounty

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