And so it is said - there's money in compounded interest. I'm for that! So my solution - unworked out at this point - just a budding thought so to speak, is to give each newborn $25,000 and put it in something like the S&P Index Fund. My understanding is that this Fund averages 11%. So let me keep 8% and the Goverment can have the overflow. Of course in lean years, the Gov. can take that money saved and get me back up to the 8%. Now let it sit and compound for 60 years. If I did the math correctly, that will give me 2.5 million on my 60th birthday. I'm only asking for 25 thousand Uncle Sam, and really that's a lot less than you're giving me now.
Now if I die before I begin to work, put the money back in the pot. And if I don't work because I'm lazy - take a bit away. The lazier I am, the more you get back. And if I'm disabled, other taxes should be communal in nature - as it is now.
I'm asking the Gov. to bank 25K in my kids name at birth and then not contact her till she's 60. Really Unc. Sam, she promises not to bother you again!