First, and always, when the government
makes a commitment, it must fulfill it. Those that have become dependent on Social
Security have the right to receive the full benefits they were promised.However,
we must reexamine Social Security for the future. If a corporation attempted to introduce
a program, structured like our current Social Security program, it would be called a
"pyramid scheme," and therefore illegal. Social Security, like any other pyramid
scheme, works only when the population in the program grows perpetually. With the dramatic
reduction in the birth rate, the weight of Social Security on the taxpayer is crushing.
Social Security has had a history of problems. There are the infamous "notch
years" between 1917 and 1926. Those born at the wrong time receive reduced benefits.
There are the numerous cases of a husband "contributing" into the program all
his working years and then dying at 65 years of age. After a lifetime of his support, his
widow receives nothing. If he had invested the money, instead of having it taken from him,
his widow would have a significant fund from which to draw in her latter years. Where are
the Social Security funds? The federal government borrowed them, and they will tax us, yet
again, to pay them back.
Life insurance and other investment programs are a better value for the vast majority
of taxpayers. Then, when retirement comes for those with investments, there is no
continuous burden on the next generation.
I will vote for:
- Elimination of the "notch year" penalty.
- Elimination of penalties on retired workers’ income.
- A rational approach to making Social Security private and voluntary.
