Chatsworth, CA (PRWEB) August 22, 2007
Author Dick McDonald exposes why Americans are so angry at Congress and how the people can fix the problem. McDonald introduces the "Rise Up Theory of Economics" which does for the poor and middle-class in America what "Trickle Down" has done for the rich. The Rise Up Theory is based on the premise that Americans like their government small and their take-home pay big and they want Congress to stop their reckless spending habits.
McDonald, a lifelong "tax man" first as a CPA for an international accounting firm and then as a tax shelter promoter turns his focus and energies from helping the rich to helping the American worker become rich.. For ten years he prepared J. Paul Getty's personal and trust income tax returns. His ideas warrant your attention.
McDonald explains why centuries of taking from the rich and giving to the poor has not made the poor richer. For the poorest it has merely made them a dependent class; for ordinary Americans their hard earned money ends up in the pocket of the rich or as taxes confiscated by their government. Rise Up reverses that dynamic and invites the poor and middle class to the economic party - to the American Dream.
In his book McDonald exposes why the poor and middle-class seldom have enough money to retire on. The reason he explains is that they never acquire a pool of capital to invest in the American economy and benefit by its growth and built-in inflation. In "Rise Up Theory of Economics" McDonald gets them that pool of capital and does it with their own earnings. Instead of wasting the money by giving 15.3% of their lifetime earnings to the government in the form of payroll taxes, McDonald suggests that those monies be invested during an American's working life in a PERSONAL INVESTMENT ACCOUNT which will grow into a million-dollar nest egg OWNED by the individual worker. Congressmen and Senators HAVE these "personal accounts." WHY NOT ORDINARY AMERICAN TAXPAYERS?
Get Dick McDonald's new e-book "Make the Poor Rich and America Wealthier" free by clicking http://www.riseupeconomy.com/freebookrequest.html It illustrates a better way for America and Americans to grow richer socially and economically.
Prior to the distribution of this press release, all candidates for President have had their campaigns alerted to the reform suggested in Dick McDonald's book. The McLaughlin survey makes it clear that voters want entitlement reform to be a major part of the national conversation during the 2008 presidential campaign. Ninety-six percent of voters said it is important that "a candidate for President in 2008 concentrates on the present and future problems with Social Security and Medicare by discussing and demonstrating a REALISTIC PLAN to provide retirement security for current and future retirees." Yet not one Presidential campaign website offers even the hint of such a plan.
McDonald proves that America can afford the cost to change from the present system to personal accounts. He floors the retirement benefits at their present levels so Congress can no longer reduce benefits or raise taxes and continue the farce of pay-as-you-go funding that sticks our kids with the bill.
Under Rise Up, the government would guarantee that all benefits payable to retirees under the old system would be honored. There will be no danger that pension checks or medical benefits will be cut; in fact depending on the success of Rise Up they may be raised.
Under Rise Up, the average household earning $40,000 a year would end up with a $3.2 million nest egg at the end of a 40-year working life and a $28,000 a month retirement check. (2007 dollars) McDonald provides detailed schedules on just how that works. Under the old Social Security there is no nest egg created - just a paltry monthly check until you die.
Rise Up proves that capitalism can solve the riddle of poverty. What could be simpler than saving 15% of your lifetime earnings invested in a proven vehicle of growth - indexed stock funds?
In 2006, Americans spent 1 ½% more than they earned. Under Rise Up 15% of their earnings will go directly into the capital markets (stocks and bonds) thereby fueling an explosive growth in the economy - the economy Americans will be investing in.
Enacting Rise Up legislation is what ordinary Americans want. Congress has made the excuse there is little discretionary room in the budget because of "mandated entitlements." Rise Up replaces mandated entitlements. It eliminates that excuse.
Get Dick McDonald's new e-book "Make the Poor Rich and America Wealthier" free by clicking http://www.riseupeconomy.com/freebookrequest.html
The Ownership Society Institute has been formed to promote the Rise Up Theory of Economics. You can help by contributing to the cause and spreading the word.
Dick McDonald, Managing Director
Ownership Society Institute
9662 Jumilla Avenue
Chatsworth, CA 91311-5610