Wednesday, February 25, 2004

Social Security

Greenspan Urges Social Security Cuts

It's easy to forget that most of the spending that comes out of Washington are from entitlement programs like Social Security. Cutting Social Security benefits is a good move, but if we want to avoid the heavy burden of entitlements and make sure that people have enough money to retire the best thing to do is to scrap the whole system. That includes getting rid of the regressive payroll tax and giving people the freedom to do what every they want with their own money. I have nothing against partial privatization, but I still don't think it goes far enough. It's true that there's risk when dealing with the stock market, but surely returns from the market are better then the pittance from social security?