Saturday, January 29, 2005

Another interesting column on social security, with a lot of rebuttal to a number of arguments against reform.

Here's a sample:
Donald R. May: Who's afraid of Social Security reform?

The power taken from politicians will be immense, as retirees will have retirement incomes greater than they would receive from the current plan. Since the taxpayers will own their retirement accounts, trying to frighten them at election time with threats that the opponents will cut their Social Security benefits will no longer work. Once people start to accumulate money, they want to make their own decisions, decrease taxes, and get government nannies out of the way.

I can see the point, and agree that this is a worthwhile goal. I have faith in our political system, though: our political leaders will most certainly try to create other programs to take Social Security's place, to ensure continued dependency on government.

2 comments:

Steve Burri said...

The old command to 'Follow the money' could also include the rider, 'And follow the strings that are attached to it'.
During the recent push for donations to organizations that relieve the tsunami suffering, there were lists that stated how much of the money given would actually be used in the relief effort versus administrative costs, etc. Some were 80-90% and more. How do our governments stand when scrutinized in like manner? 25%?

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