California State Government November 7, 2000 Election
Smart Voter


By Jose Luis "Joe" (Olivares) Camahort, Ph.D.

Candidate for United States Senator

This information is provided by the candidate
Consolidate all Government benefits into one computerized, electronic package based on age and income level, which incentivizes people to earn more; but disincentivizes them from having more than one child per parent per household. Plus have the U.S. Treasury Dept. provide PERSONAL financial services free of loan interest, insurance premiums and broker commissions.
In our resource consumptive society, a massive government bureaucracy distributes government benefits such as welfare, food stamps, social security, medicare, student loans, etc. The CAMAHORT Federal Benefits Package proposes that these social programs be consolidated into a universal benefit formula, which calculates the total benefit each individual is entitled to. This amount should then be credited electronically each month to the individual's financial account. The formula should incentivize individuals to earn as much money as possible, but disincentivize them from having more than one child per parent per household.

An example of what a universal monthly benefits package could look like is shown below:

  • Dependent Children, less than 18 years old = $250 per child up to a maximum of two children per couple, or one child per single parent.

  • Young Adults, 18 to 24 years old = $250 each.

  • Low Income Adults, 25 to 64 years old = $250 each for incomes up to $10,000 per year. Reduce benefit by $1 per month for each $25 that annual income exceeds $10,000. This low income benefit would drop to zero when annual income reaches $16,250.

  • Seniors, 65 years and older = $500 each.

  • Blind or Disabled = Additional $250 each.

The Dependent Child benefit can serve as K-12 education vouchers. The Young Adult benefit can replace the Student Loan Program and help in College or Trade School expenses. The Low Income Adult benefit can replace Food Stamps and Welfare, etc. And the Seniors benefit can replace Social Security. The amounts suggested above are only examples and are NOT cast in concrete. It will be up to Congress to set the details of such a sweeping proposal.


There are too many economic parasites in our society today, the greedy intermediary industries - banks, insurance companies (including HMOs), and brokerage firms; which produce absolutely nothing but siphon off the economic lifeblood of hardworking people. Is it such a bad idea to merge all of these essential PERSONAL financial services into the Federal government? It certainly doesn't seem to be a bad idea for big banks to merge with bigger banks, or big insurance companies to merge with bigger insurance companies, or big brokerage firms to merge with bigger brokerage firms, or even for big banks, big insurance companies, and big brokerage firms to merge among each other to create "one-stop shopping" for financial services. What I propose is the mega-merger to end all mega-mergers. Merge all PERSONAL financial services into the U.S. Treasury Dept. and provide these one-stop financial services free to all citizens with a valid Social Security Number (SSN)! Yes, zero-interest mortgages and credit cards, zero-premium insurance, and zero-commission brokerage services.

At a minimum, I envision a Federal Brokerage, Insurance, & Credit Union run by the Treasury Department for all personal financial services. The first step would be to merge all Federal Credit Unions (FCU), then open the FCU membership to all Citizens with a valid social security number.

We have the marvelous digital technology and the government has the supercomputers to accomplish this. Providing FREE PERSONAL financial services involves the few things that government can do reasonably well: database management, bookkeeping, and computer security. They already have a database with all the SSN information, and they send out millions of social security checks, welfare checks, etc. with few problems.

The big banks, insurance companies and brokerage firms can continue providing financial services to non-Citizens, businesses, professionals, and corporations; e.g., commercial and investment banking, commercial and professional insurance, and commercial real estate and other commercial broker services.

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ca/state Created from information supplied by the candidate: June 20, 2000 10:05
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