Socialist Security

I go out to the old mailbox today and find a letter of correspondence from our benevolent Social Security Administration. It is my annual report, letting me know that I and my employers have paid in enough money for me to be eligible to receive “benefits”. It looks like I am currently being taxed around 6.2 % of my salary for the benefit of getting some of it back at the retirement age of 67. They were kind enough to list what I should get at different ages of retirement, along with what my family may receive if I were to die today. Now as you can imagine, I am getting all warm inside from knowing that my handlers are saving money for me; putting it up today for my financial tomorrow as I am incapable of doing this myself. I continued to read and imagine my shock when I came across this line:

“*Your estimate benefits are based on current law. Congress has made changes to the law in the past and can do so at any time. The law governing benefit amounts may change because, by 2040, the payroll taxes collected will be enough to pay only about 74 percent of scheduled benefits.*”

Allow me to translate the above into redneck for you:

“Those numbers you just read above, don't mean squat. Whenever we feel the need to cut off your retirement pudd, we can and will do so. We have already bankrupted the system by not only robbing Peter to pay Paul but we put Peter in a miniskirt and pumps and have turned him out for 2$ a pop. The number we gave you of 2040 is a B.S. number too, it is really closer to 2018. But we figure since you believe all the other numbers we put on this page you will go for that one. If you are depending on us, boy are you screwed”


So, where is 'ist' after the word social – Socialist Security?

Remember that big dictionary on my desk? It defines socialism as (1.) A political and economic theory and movement for the reform of society by the substitution of the collective for the individual ownership of capital and property.

Let's compare that definition with what some of our Nation's leaders had to say about Social Security. Now I am not the sharpest knife in the kitchen drawer, but it looks like there might be a parallel or two here:

"This law represents a cornerstone in a structure which is being built but is by no means completed--a structure intended to lessen the force of possible future depressions, to act as a protection to future administrations of the Government against the necessity of going deeply into debt to furnish relief to the needy--a law to flatten out the peaks and valleys of deflation and of inflation--in other words, a law that will take care of human needs and at the same time provide for the United States an economic structure of vastly greater soundness." -F.D.R. August 14, 1935

"It has long been recognized as an inescapable obligation of a democratic society to provide for every individual some measure of basic protection from hardship and want caused by factors beyond his control. In our own country, the obligation of the Federal Government in this respect has been recognized by the establishment of our Social Security system. . . . The passage of the Social Security Act in 1935 marked a great advance in our concept of the means by which our citizens, through their Government, can provide against common economic risks. . ." Harry S. Truman -May 24, 1948

And here we have L.B.J. proudly announcing Medicare:

"Thirty years ago, the American people made a basic decision that the later years of life should not be years of despondency and drift. The result was enactment of our Social Security program. . . . Since World War II, there has been increasing awareness of the fact that the full value of Social Security would not be realized unless provision were made to deal with the problem of costs of illnesses among our older citizens. . . . Compassion and reason dictate that this logical extension of our proven Social Security system will supply the prudent, feasible, and dignified way to free the aged from the fear of financial hardship in the event of illness." Lyndon Baines Johnson -January 7, 1965

"The fortieth anniversary of the Social Security Act celebrates an important milestone in responsible public service. I continue to be impressed by the steady responsiveness of the Social Security program to the changing needs of our people. . . . I warmly commend the employees of the Social Security Administration whose efforts are such a positive influence on the lives of countless fellow citizens." -Gerald Ford August 9, 1975

"The Social Security program is a pact between workers and their employers that they will contribute to a common fund to ensure that those who are no longer part of the work force will have a basic income on which to live. It represents our commitment as a society to the belief that workers should not live in dread that a disability, death, or old age could leave them or their families destitute." - Jimmy Carter December 20, 1977

Interesting, no? You can read more of these quotes directly from this page at the SSA site.

So what do we do? President Bush and his ideal of partially private investment of social security doesn't even sound good on paper. You see, we are currently paying for those retired now and if some of our funds are diverted to private accounts then the missing money has to come from some where. The government (currently) is paying the retirees old-age benefits (they already paid into the system) and the only way Uncle could continue do that, with Bush's proposition, is to borrow (bad mojo), print more money (bad mojo), or raise taxes (hell no). More government control in the business sector is also something I want to avoid like the plague. Social Security needs to be abolished. Check out this article over at the Mises Institute for a proposal that has merit. (Mises added to sidebar)

Like all of those of the greedy persuasion, I just want my money so I can do with it as I see fit. I don't need paternalism, I need to be left alone. I can handle it because (wait, let me check...yep) I have just confirmed that I am a grown man.

I neglected to talk about those that receive these benefits that have never paid into the pot, illegal aliens, et all. I didn't talk about those things because they are corollaries to the root of the issue -Social Security is fundamentally flawed. Freedom and collectivism cannot coexist.