Social Security - History
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We Can Do Better |
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| Current Situation
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Several generations of
Americans have been led to believe that the US government established a
real pension fund. The government has subsequently incurred contractual
obligations, and those obligations must be met.
Today, young people are forced to participate in a state-run retirement scheme that is based on current income paying for past obligations. Such a retirement scheme, if conducted by a private company, would be considered illegal by the same government that operates social security. Tax status of social security benefits were changed in 1983, and again
in 1993. Today up to 85% of benefits may be taxed. Taxing of
benefits is, in effect, double taxation because the initial payments were
themselves taxes. |
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| Proposed Changes |
To improve the situation for
young people, my proposal has these features:
To improve situation for senior citizens, I support the following actions:
To pay the cost for tax reductions, and to permit withdrawal from the
system by citizens, my proposal will be funded by reductions in the
following costs: foreign aid, and worldwide policing actions by the
Department of Defense. |
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| Expected Benefits |
Benefits Include:
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