Social Security

I was born in 1936, just after the super progressive instituted a number of policies and government programs to get us out of the depression.  One of these programs was Social Security, advertised to provide retirement funds to retirees after they had made "Contributions" to a fund listed on the modern income allocation fund as FICA.  Additionally, the employer made a similar "Contribution".  Even though it was advertised to go into an account that was used to pay for retirement, it was actually put into the General Fund.  By law, it was not a retirement account because it was not invested in stocks and bonds as most investment programs are, but was used as a source on money for the federal government when it spent more that it took in, the deficit.  However, as late as 10 years ago, Al Gore referred to it as being in a "Lock Box". 

Now, it appears that the truth is being revealed.   The Social Security program was and is nothing more than a Ponzi Scheme.  Employees were told that they were contributing to a retirement fund but their funds were being used to pay off older employees retirement commitments.  Not only that, the current government is referring to its obligation to pay what it promised, if not in the law, but at least what it promised, as an entitlement ( a right granted by law or contract, especially to financial benefits from the government), as if an entitlement is something that recipients do not deserve.  Of course there are a number of entitlements that are costing our government that is not deserved.  Any payment to or on behalf of recipients who have not in some way contributed to the program constitutes theft of funds that contributers  originally contributed for other purposes.  Where the law-makers are exhibiting the natural generosity of citizens of the United States, it is never-the-less wrong to take the funds intended for one use and use it for another.  It is wrong for the government to take money from taxpayers and give it to non-taxpayers and even non-citizens regardless of the extent of the need.  Our citizens have demonstrated their willingness to satisfy those needs by contributions to religious institutions and other charitable organizations.

What should we do?  As former President Clinton has said, "We should not let Social Security and Medicare devour our economy."  My suggestion is simple.  Stop collecting FICA and Medicare payments.  For all of the citizens that have made contributions, pay the accumulated amounts, including the employers portion, normalized to the purchasing value of the dollar at the time it is paid to all of those who have contributed.   So we would be no worse off than we were prior to inactment of the social security act in the 1930's.  At least we wouldn't have Republicans rolling Gran'ma off a cliff or Democrats rationing Medicare to shorten our final days in addition to making them less comfortable.