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Social Security

Overview

The best way to ensure the elderly are taken care of later in life is by letting them control their own retirements.  The current Social Security system needs to be privatized so that private individuals can get the low costs, and high benefits, of an unregulated and free market. 

Today’s social “security” is a flawed and unsustainable model in which more and more people consumer the resources of fewer and fewer producers.  Government cannot produce anything – it can only take and redistribute the wealth produced by private citizens.  The illusion of social “security” is much less assured than putting individuals in charge of their own futures.   

The government can help ensure the security of the elderly by reducing the tax burden on individual citizens, especially in retirement accounts, capital gains, and estate taxes.

Other Popular Issues

Opinions

The only real security is to produce more than you consume.

Doug Casey, Casey Research

 

Social Security should be privatized at once.  It was a huge mistake in the first place and it is a program in unstable disequilibrium.  It’s a Ponzi scheme too obvious to discuss.

Richard Timberlake, University of Georgia

 

Social Security should be completely privatized and marketized, with unfunded liabilities placed on government employees and assets.

David Theroux, The Independent Institute

 

Social Security should be privatized at the very least, and ideally transitioned over to a system of retirement investment entirely controlled by each individual citizen. 

Dave Nalle, Republican Liberty Caucus

 

Phase it out entirely for people under a certain age, perhaps 50. Retirement should be a personal responsibility, not a political football.

Lawrence W. Reed, Foundation for Economic Education

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