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Social Security
Issue
The Social Security program despite its humanitarian intent to aid the elderly is seriously flawed and will be unable to pay its debts in the near future.
The program was improperly designed from the onset. Originally, it was meant for people who lived past their average life expectancy, which is immoral to say the least. In addition, government officials had spent the collected taxes for the program on other government projects over the years (going back to the Roosevelt era), which reflected the fraudulent and dishonest behavior by government officials since its inception.
Essentially, the Social Security program has the same characteristics and false pretenses of a non-sustainable business model that never intended to provide benefits to its recipients. People were expected to die before collecting benefits and the funds were spent elsewhere over the years. The program is the equivalent of a fraudulent scam, which should have been investigated by the FBI rather than established as national policy.
For those who disagree, consider the following: what if a private insurance company offered a similar program, would you sign up for it? The insurance policy would require both you and your employer to contribute 6.2% of your salary every year towards your account. If you happen to die before collecting benefits, the insurance company keeps the money for themselves thereafter.
If you're lucky enough to live past your life expectancy, collecting benefits would depend on other people signing up and contributing to the plan since the insurance company had spent all of your contributions on other things without your consent. Much as how the federal government has done over the years.
Does that sound like a good retirement plan to you or a fraudulent one?
Solution
Since the Social Security program is suspect in nature, the program should be treated no differently than any other pyramid scheme and terminated by law enforcement officials. By doing so, the current 6.2% tax that workers pay into the program would cease, which will allow people time to build their own retirement savings.
Since cancelling the program may place current retirees at a disadvantage, a possible solution may be to extend the employer's contribution by another 25 years or so. This will allow retirees to receive benefits at a reduced rate, while not forcing younger generations to participate in a fraudulent pyramid scheme. If that is not good enough, another possibility would be to have employers contribute the full 12.4% tax, which will allow retirees their full benefits until the program has ended.
However, regardless of whether the Social Security program should be continued or not, participation in the program should be entirely voluntary, not forced as it is presently.
People should not be forced to contribute to a pyramid scheme against their will, for such would be immoral and unethical, not to mention a violation of their civil rights. Certain people may wish to handle their own retirement needs, and they should be allowed to do so in this country.
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