Saturday, October 9, 2010

Sociable security

Once again, desperate Democrats are bringing out the Social Security bogeyman.
Many people don't understand how Social Security works. The government forcibly takes money from a worker's paycheck and gives it to someone who has retired. If there is any left, the politicians spend it on whatever nutty fad is dominant at the moment. They promise to put the money back in the system, someday. The only way they can get that money is to take it from someone else when the time comes.
It is the greatest Ponzi scheme in history. It worked fine when 13 people were paying for every one taking out, but today with two workers sharing their paychecks with one retiree, it isn't such a good deal.
Conservatives propose making it a rational, workable system by allowing people a choice. Stick with this, and get low returns, or invest the money and get tangible returns.
When the British were offered this choice during one of Britain's occasional bouts with reality, many Brits chose the private investment route. When liberals took over again, they shut down the option.
For liberals, the problem is that investing the money in the private sector does not give them a chance to get their hands on it, and the taxpayer is not beholden to politicians for his retirement.
So, liberals refer to honest reform and offering a choice as "taking away Social Security."
Well, did you expect them to tell the truth?

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