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Social Security's solution: America's greatness lies in limited government and free enterprise. The alternative to Social Security--and the key to a new era of prosperity--is to return to these roots.

Publication: The New American
Publication Date: 31-MAY-04
Format: Online - approximately 1397 words
Delivery: Immediate Online Access
Full Article Title: Social Security's solution: America's greatness lies in limited government and free enterprise. The alternative to Social Security--and the key to a new era of prosperity--is to return to these roots.(Social Security)(Cover Story)

Article Excerpt
Just as Otto von Bismarck advised for Germany, our own Social Security program has fostered a widespread dependence on government. The program has also added an increasingly severe burden on taxpayers and walked roughshod over the U.S. Constitution. Yet its highly touted benefits deliver less than a bare subsistence living. Like all socialistic programs, its real success consists in giving government the power it seeks to control the people.

Working Americans who are forced to participate in this program know it is costly. But few realize that the costs could include more than money--that it may destroy the nation's economic well-being and their own personal freedom.

When the program's wealth-transfer mechanism began, minuscule payments into it turned out to be a bonanza for those who soon retired. For very little paid into it, they received monthly checks until death. The taxation to fund the program in those early years was small, however, and generated few complaints. But Americans currently reaching retirement age have paid Social Security taxes throughout their working lifetimes. If they would have had freedom to invest those dollars in a program of their own choice, their return would dwarf what the government will provide.

Among the many studies showing the enormous contrast between private investing...

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