201- Efficient social security and social welfare benefit payout by family name (Bringing families closer together)
(I) Plan: Track taxes withheld for each individual, then total the amount by family name. Benefits will then be issued according to what is remaining in the family name account.
(II) Plan supplement: All taxes withheld for social security could be input into the “Pay day account” to take advantage of the 2 % tax free interest accrual. The interest will also allocated to the family name account.
(III) Example: The “Myel” family has accumulated $100,000,000 in taxes withheld over their lifetime. When a member of the “Myel” family goes in to file for benefits the process is very seamless; benefits are paid out according to the accumulated balance .
(IV) Benefit: The practice of dithering while wasting money by prearranging negative circumstances becomes null effectively saving money the first day this plan is implemented. This plan keeps families closer together which means less money could be withdrawn due to efficiency in paying out. The efficiency is due to another family member or head of household that is already collecting. After implementation of this great idea, selecting a partner for marriage becomes much more critical.
(V) Added benefit: The head of the household will experience increased responsibility due to the established family benefit entitlement hierarchy.