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Social Security and Retirement
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The National Ponzi Scheme
by Walter Williams
(February 4, 2009)
Social Security is unsustainable because it is not meeting the first order condition of a Ponzi scheme, namely expanding the pool of suckers. Social Security has been one congressional lie after another since its inception.
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The Future of Social Security?
by Paul Hsieh, MD
(November 18, 2008)
Eventually, the current Ponzi scheme is going to go bankrupt.
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Retire Social Security: Social Security Is Morally Bankrupt
by Alex Epstein
(August 14, 2008)
We should be debating, not how to save Social Security, but how to end it--how to phase it out so as to best protect both the rights of those who have paid into it, and those who are forced to pay for it today.
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Don't Save Social Security
by Alex Epstein
(November 19, 2007)
If Social Security did not exist--if the individual were free to use that 12 percent of his income as he chose--his ability to better his future would be incomparably greater.
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Social Security is a Monstrous Injustice
by Alex Epstein
(February 21, 2007)
Observe that Social Security's wholesale harm to those who would use their income responsibly is justified in the name of those who would not. The rational and responsible are shackled and throttled for the sake of the irrational and irresponsible.
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Something For Nothing: Social Security
by Thomas Sowell
(March 1, 2006)
The baby boomers, who are beginning to turn sixty, are unlikely to get back all the money they paid into Social Security, with or without strings. The illusion that Social Security can provide pensions more cheaply than a private annuity or other retirement plan is the grand something-for-nothing political triumph.
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The Destruction of "Social Security"
by Matt Lawton
(July 16, 2005)
Politicians, academics and citizens are crying out that Bush's plan to privatize Social Security will be the death of the program. So what?
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The Social Security Crisis Gets Personal
by Stuart M. Butler
(April 23, 2005)
The debate over Social Security reform so far has centered on the concern that, as the number of retirees balloons, the program won't be able to pay its promised benefits. That certainly is a crisis that must be addressed. But let's say, for argument's sake, that Social Security's finances were in great shape. Would reform still be necessary?
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Social Security: There is No Trust Fund, Only IOU's
by Don Luskin
(April 11, 2005)
The Social Security Trust Fund is full of Treasury bonds. Is that good enough?
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Why Social Security Should Not Be Saved
by Alex Epstein
(March 24, 2005)
Under Social Security, lower- and middle-class individuals are forced to pay a significant portion of their income--approximately 12%--for the alleged purpose of securing their retirement. That money is not saved or invested, but transferred directly to the program's current beneficiaries--with the "promise" that when current taxpayers get old, the income of future taxpayers will be transferred to them. Since this scheme creates no wealth, any benefits one person receives in excess of his payments necessarily come at the expense of others.
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 Recommended Reading:
Capitalism: The Unknown Ideal
by Ayn Rand
Whether you are one of capitalism's alleged champions (Conservatives,
Libertarians, etc.), or actually one of its defenders (a rarity in today's
culture), or a part of the "humanitarian" lynch mob that seeks to burn a straw
man, or just a curious observer -- read Ayn Rand's
Capitalism: The Unknown
Ideal -- and then judge for yourself. |
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