Ederik Schneider Online

Freedom or Totalitarianism

Freedom or Totalitarianism
Liberty or Death

Wednesday, May 30, 2012

Harry Browne From 1996: "Cashing Out Social Security": Why That Will Never Happen and What Can be Done Instead



Even if we found a way to eliminate Social Security within the next 10-20 years, which will never happened. But for the hell of it, lets say we did that and still managed to payoff today's Social Security receivers, people would still need some form of Social Security. Down the line, thats what happens in a Capitalist System, some people are able to take care of themselves and in Developed Nations, most of us can do that. But we will always have a small percentage of people who won't be able to take care of themselves, never make enough money to be completely Independent from Public Assistance. That will either need Social Security to help pay their bills when they retire. Thats why Social Security was created, not to be a National Pension System, it wasn't set up that way and will never be that. It was set up to be a Retirement Insurance System, especially intended for the people, who for whatever reasons, didn't save enough and put enough money away. To live in retirement and live Independently. Which is something that I don't believe Libertarian Presidential Candidate Harry Browne ever understood.

What we can do with Social Security, is first do no more harm, stop spending Payroll Taxes on other things other then Social Security and Medicare. Don't do anything to hurt the solvency of the program and then actually save the program, Harry Browne had a bad idea on eliminating Social Security, 2012 Libertarian Party Presidential Nominee Gary Johnson. Has a good idea on how to decentralize the program and allow the States to set up their own Social Security Systems. Democrats in 2004-05 had a good idea on Pension Reform, which included Social Security, which is called Social Security Plus. Which would be an option for all workers. Where people could on their own essentially increase their Payroll Tax that their employer would match and this money would go into a Retirement Account. The extra Payroll Tax, while the original Payroll Tax would go into Social Security and Medicare and allow more workers to be involved in a Pension Plan.

Libertarians have been struggling for forty years now to be taken seriously, because they propose ideas like eliminating Social Insurance Programs. That are popular and that people actually depend on and thats starting to change with Gary Johnson who has taken a different approach. That instead of eliminating these Social Insurances, we are going to reform them in a way, that empowers Americans and could appeal to more voters with this approach.