3 March 2005
Politically, I care little for the Social Security system. I understand the historical context of its founding. I understand the “benefits” of its initial ten years.
Philosophically, I believe the lower taxes a person has, the more good results. Families, churches, charities and society as a whole benefit when a person has a lower tax burden and can provide for his or her own needs.
Financially, I’m in a tiny group of people who continue to believe that conservatives are missing an excellent opportunity to discuss a five-to-twenty-five year plan for eliminating Social Security altogether. Such a plan removes a burden from families, from employers and from government. Remember, I’m speaking of a way to accomplish this financially—not politically.
Methodically, I’m in the small group of people who believe that solvency and private accounts are two completely separate matters when dealing with Social Security. Private accounts are the method that each of us should have in place to provide for retirement, disability and life’s unforeseen emergencies. As for raising the retirement age, raising the cap, raising the tax rate—well, these are all tax increases.
For one who can envision doing away with the program altogether, any alternative that increases the tax is like trying to remove a wart by cutting off a limb.
Filed under: Thinking