The direct 7.65 percent tax currently imposed on wages is converted to personal savings accounts. The individual may then choose to invest these new assets in five different approved mutual funds.

Five only? I have more control over my 401k. And who, pray tell, gets to administer these mutual funds? Seems to me like this is an opportunity to get five mutual fund managers a LOT of taxpayer cash. It’s not really individual control, either, since the “choices” are limited.

And since there’s no link anywhere to the actual text of the bill, I don’t know anything about these five funds, how they were “approved,” and by whom. Considering that FreedomWorks is so hush-hush about their corporate donors (especially in light of CSE’s reversal on sugar bills after receiving money from what they used to call “Big Sugar”), I’m not exactly banking on transparency from FW/CSE or Mr. Flake, either.

Any chance you’ll actually put a link to the text of the bill itself? It would also be nice to understand what the hell the SMART Act does to “simplify” medicare, since this post is VERY short on specifics.