Unlike many of the issues that our politicians take up, this issue is a sure thing and it's impacts can be ameliorated by their actions today. Not much chance of that happening when they are busy inventing and implementing new government programs that, based on historical evidence, probably will not work anyway.

So, what do I recommend…same as I have for 20 years:

1. Take the cap off social security income. Tax all income with a lower rate. (Middle class tax cut plus making the overall tax system more progressive ---not important to me but they have been talking about it for 23 years since the TRA 1986 was supposed to make everything better).

2. Invite as many immigrants to the U.S. who want to work as we can ….increase the incentives so we have people to take care of all of us old dolts.

3. Cut the military budget, institute no new programs, rid the tax code of all business and personal benefits (huge windfall- use as transition money to blunt the economic blow moving from a consumption-biased system to a savings and investment personal responsibility system. . No government money to business save for defense contracting, making it much more transparent and competitive. No money for farmers, research, etc. Let's see how an unfettered free market works for 50-100 years. We have never had one so no one knows how it would work. No tariffs, no union protectionism. Convert all public pensions to market based 401(k)-types---collect all the unpaid taxes from tax-vagabonds. Advise all new workers that there will be no Medicare/Social Security, few deductions/credits save for the working poor and, finally,

4. there would be no tax on any capital gain from investment or savings (for education k-post graduate, medical, or retirement). Taxes would be based on consumption. The more you spend today, the more you pay in taxes today. The more you save and invest today, the more you have over the course of your lifetime earnings that goes untaxable and is available for you to take care of yourself and your family. The working poor would pay a flat rate based upon family size and would get a sliding payment BASED UPON INCOME.

I guess, in some very important ways, I haven't changed my approach to fixing the system, making me believe that I am on to a reasonable, though highly controversial, solution. It could be called the "The Self-Responsibility Act of 2010." All those in favor, say Ay, those opposed say Nay.

Please feel free to elaborate this outline as you wish. It is a very instructive exercise. Feel free to look at the Federal and State Tax Expenditure Budgets to see where the real "earmarks" are located in perpetuity.