Blog author: jspalink
by on Wednesday, June 22, 2005

D. Eric Schansberg, an Acton adjunct scholar, takes a look at the Social Security system, and concludes that “policymakers should address the oppressive taxes that Social Security imposes on the working poor, its pathetic rate of return, and inequities in its payouts.”

Read the full text here.


  • TF Stern

    Thank you, this was stated about as clearly as can be done. Why can’t Washington see the light as you have pointed out? Why is the AARP so dead set against any changes at all? Why are stupid people stupid would be the next logical question.

  • http://www.hubsandspokes.com/archives/2005/06/the_lunacy_of_s.html hubs and spokes

    Now that the short-sighted left appears to have demolished the current effort to allow a partial privatization of Social Security, let’s take a look at how ridiculous the system actually is: Imagine if Senator Robyn Hood (R-AL) proposed a…

  • John P. Kelly

    I had concluded that the reason that Social Security does not work is that there are so many people not having children. The family with only the "token two" is insufficient for replacing the parents and it has shrunken the base of the pyramid that any retirement system needs to work.

  • bill wald

    If there was no SS program then the financial and social situation of older people would be worse than it was before FDR "invented" retirement for American workers. The incapicated half of all old people would be living on the street or in a county "Old Folks Home." At least in the ’30′s 98%% or so of Americans at least knew who their parents were.

  • Nathan

    I don’t understand why Mr. Wald thinks that FDR "invented" retirement. Prior to Social Security, families, communities, and churches, cared for their elderly: it worked most of the time, and when it didn’t, then someone (usually a church) stepped in to help. And today, far too many people STILL live in an "old folks home" – so what’s the difference? Mostly that the government bureaucracy is sucking the nation dry to spend 3 times what such things should cost, and people lose control of everything they have.