Would you be in favor of abolishing Social Security?

[David S]

We have had this discussion many times before. Everyone expresses their heartfelt opinion and no one changes.

Another libertarian leaning individual was asked what we (Libertarians) should propose as a solution to social security's problems. He said; "Nothing". When asked to elaborate, he said "Well that bus is headed over a cliff. Why should we take the wheel now?"

Maybe that's good advice.

[David S]

Expand it.  By that I mean increase benefits and create a redistributive effect by removing the tax limit (90K) and also eliminating benefits for the wealthy.  That way it is an insurance program.

Sounds good as long as we fund it by taxing your income at the full 12.4%.

[David S]

John and Dazzleman. You two understand the corruption in the current system and the problems it faces. The ultimate goal should be to get the government completely out of it, because they have demonstrated fiscal irresponsibility time after time. They haven't balanced the budget since 1960. They have created a $7 trillion dollar national debt which is unprecedented in the history of the world. The monetary policy of the government in conjunction with the Federal Reserve has caused the dollar to lose 95% of its value since 1913. With all that to their credit, who in the world would want those nuts managing their retirement plan?

[David S]

John and Dazzleman. You two understand the corruption in the current system and the problems it faces. The ultimate goal should be to get the government completely out of it, because they have demonstrated fiscal irresponsibility time after time. They haven't balanced the budget since 1960. They have created a $7 trillion dollar national debt which is unprecedented in the history of the world. The monetary policy of the government in conjunction with the Federal Reserve has caused the dollar to lose 95% of its value since 1913. With all that to their credit, who in the world would want those nuts managing their retirement plan?

I suppose you guys think that Enron isn't corrupt?

As I recall at least one of Enron's officials is currently in jail, which is where our elected officials would be if they tried to run a private retirement plan the way social security is managed. Social Security is frequently called a Ponzi scheme because of the way it is funded. It should be noted that the original Ponzi went to jail for his investment scheme.