Being an idealistic libertarian, I am going against natural inclination by attempting pragmatism--
If we ever get the power but then we make excessive rapid change-- The population discomfort will precipitate counter-revolution. The counter-revolution will empower commies worse than the current crop, who would tax and spend more drastically than today.
Therefore, any changes must be gentle with plenty of lube.
Tis impossible to plan everything in strict detail. We can't realistically estimate the budget ten years out. It is by definition impossible to predict unintended consequences. If it were possible to predict an unintended consequence but we cause the consequence anyway, then such a consequence would not be unintended. It would be an intended consequence. Duh.
So this would be an interim plan to be refined year-to-year depending on how things go. After a few years the plan would require extensive re-write.
==== Revenue ====
-- Social Security --
1. Remove the Social Security Tax income cap.
2. Pass pay-go law-- SS tax receipts can only be spent on current Social Security benefits. No more squandering of SS revenue on wars, pork and political favors. No more bogus IOU SS bonds which must be paid by our grandchildren.
Each year's SS tax rate will be priced at last year's actual outlay + 5 percent. If a tax year accidentally generates a surplus exceeding 5 percent, then the SS tax for the next year would be adjusted downward to compensate and re-adjust toward the 5 percent "pay-go safety buffer".
3. For now, leave benefits and retirement ages the same, but in the future gradually raise the retirement age. For instance in year three, people reaching age 65 would have to wait an extra 3 months before collecting. In year four, people reaching age 65 would have to wait an extra 6 months before collecting. Keep incrementally bumping the retirement age in "non painful" increments until we can pay the retirees out of current tax receipts without inciting armed tax revolt among the young people.
-- Medicare --
Over the short-term, follow the same policy outlined for Social Security. Every year, tax only whatever is necessary for current-year expenses. Over time, figure out a better plan before the Medicare tax grows big enough to incite armed tax revolt among the youngsters.
-- Income Tax --
At least for a few years, leave all the tax rates and deductions in-place as today. The SS and Medicare tax changes would be sufficient shock that it would not be desirable to inspire excessive outrage via rapid drastic changes to the tax code.
Removing the Social Security Tax income cap might raise rich folks tax by several percent and make the natives restless. But if we limit the SS "flat tax" rate to whatever is required to meet current obligations, then the working-man might actually pay a slightly lower SS tax rate, which might make a lot of middle-class taxpayers happy. As long as the senior benefits do not change, then hopefully the seniors would not be out in the street with torches and pitchforks.
==== Spending ====
Keep all programs and departments exactly as today. For instance, do not completely abolish the Federal Barn Owl Administration because that would motivate organizations such as Friends Of The Barn Owl to spend zillions of dollars to kick us out of office and elect commies.
On the first year apply an across-the-board 5 percent reduction on all departments. Instruct administrators of each department to find the best way to provide the best service possible with only 95 percent funding. The good managers will figure it out. The bad managers should be replaced.
MAYBE the first-year cuts will be so transparent that citizens do not even notice. In that case we should cut another 5 percent in year two.
On the other hand, if the first-year cuts incite riots which burn out the core of most USA cities, then we would reduce the budget less than 5 percent in year two.
