Thu, 09 Dec 2004
Hans F. Sennholz has an interesting proposal for ending Social
Security. The basic ideas are:
- Tell recipients how much of their contributions, including interest, they
have already withdrawn with each check.
- Once they've withdrawn benefits equal to their contributions, they must
apply for welfare. This would eliminate payments to those who don't need
it.
- Let people opt out of contributing. Private insurance can replace Social
Security for people who want to use such a system.
- Charities can take over caring for the disabled.
The holiday season is a good time to think about the 15.3% of your income that
the government has taken from you to gift to others.
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