The New Ideas Blog

I know I’ll get flack for this one, because social security is seen as somehow sacred. The truth is that it has become a rip-off. To start with, let’s drop the pretense that it is or ever was a retirement “trust fund.” The money never was invested or set aside. It was a promise by government that it would force future workers to give money to those who paid taxes now. It has in part become yet another way to transfer wealth from the poor and middle class to the wealthy.

A question: If the government promised decades ago to give a million dollars to each retiree, would you (more…)