Sunday, March 20, 2011

Strucutural Problem #1 with Social Security

Excerpted from It's Your Money:
First, as confirmed by the Supreme Court in 1960, Americans have no ownership rights to the money they pay into Social Security. The federal government has no contractual obligation of any kind. What you get back—and, indeed, the age at which you qualify to receive benefits—is entirely up to the 535 men and women in Congress. That is simply wrong. It is your money. You work hard for it. You should own it.
For a full-length essay on this topic, read John Attarian's essay "What Property Right To Benefits?"

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