SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : Politics for Pros- moderated
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: LindyBill who started this subject8/28/2004 8:16:24 PM
From: LindyBill  Read Replies (1) of 793931
 
I am as bad as everybody else. I sit here and say, 'I've got mine!

Greenspan on Social Security
By -P - Colby and beyond

Mises Blog tackles Greenspan's warning about the coming failure of Social Security.
Here is my comment on the issue:
Maybe Greenspan's wakeup call will force Americans to realize that Social Security never was a promise by the government to save money for Americans. Instead it always has been a wealth transfer, it is just that American politicians have never been truthful about it.
Ultimately libertarians/ Austrians have 2 choices when it comes to the American Social Security problem:

1. Reform: President Bush supports Privatizing parts social security. This would mean that Government would use its coercive power to force savings.

2. Do Nothing: Kerry is operating under the theory that if you say there is nothing wrong enough times, it will magically become so. Ultimately, given what he has said payroll taxes will have to be raised by 50% or (if the public refuses to support such a drastic increase) the Social Security system will go bankrupt. See: this post for the math.

This presents a difficult problem: Support a slightly better use of government force or support the status quo with the hope that it will completely eliminate the problem (but with massive costs involved).

Or look at it a different way: Does supporting the idea that we must privatize social security, reinforce the concept that “Government itself is not the problem, it’s just that our good government has bad policies.%E
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News