Social Security is Bankrupt… Morally.

James Leroy Wilson over at wrote a piece on the fraudulent nature of Social Security. He does a great job until he ends his editorial with recommendations on how to make it solvent, as if its solvency is the solution. I disagreed, and commented as follows:

First of all, I would like to thank James Leroy Wilson for this great article on the serious shortcomings of Social Security. He exemplifies effortlessly the fraud being perpetrated on the American people. However, Mr. Wilson’s concludes with suggestions on maintaining the Social Security system by a series of policy changes. I reject this at its foundation, and here is why.

As Mr. Wilson made clear, the government has fraudulently claimed that the approximate 12% of income taken away from individuals is safely stowed away into a keepsake for their retirement. We know this not to be true. We know the government has spent Social Security confiscations (not ‘contributions’ as it is popularly said) on other entitlement programs; we know the government can arbitrarily raise the payroll tax at whim; we know the government can even change when an individual is entitled to his own money again by raising the retirement age.

I’m sure Mr. Wilson would agree that individuals are entitled, and in fact have the right to the fruits of their labor. Why then are billions of dollars confiscated from millions of innocent, hard-working individuals? It is because Social Security is powered by an altruistic moral philosophy that dictates man to be a servant to his fellow man – that self-sacrifice for the greater cause is morally sanctioned. I reject that morality. I reject the notion of man as a sacrificial animal to be toyed and prodded with for the benefit of others.

Social Security rests on a faulty morality and inhibits the federal government to levy yet another tax upon the working individual so as to fund other entitlement programs resting on the same faulty morality. Individuals should be allowed to keep their own hard-earned wealth and either spend it responsibly with their future in mind, or irresponsibly and suffer the consequences. It should not be the case that regardless of how one spends their money, we as the taxpayer guarantee a certain economic status to the elderly.

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