Even Prof. Machan gets it wrong (in part)!!

Reader comment on: Romney's 'Gifts' Explanation
in response to reader comment: Social security wasn't supposed to be welfare!

Submitted by David in Irvine (United States), Nov 22, 2012 14:49

I am a great admirer of Tibor Machan, but for post baby-boom taxpayers, we won't get back what we put in. We've been making larger contributions than previous generations through payroll taxes since we have been funding the phony trust fund, but by the time we start collecting in the late 2020's the trust fund will gone and our payback will be lower. Or our kids will be ripped off to pay for us if we want the same level of benefits as previous recipients. The wage ceiling and max annual contributions have both greatly exceeded inflation since that dipstick Wilbur Mills got his claws into workers' paychecks in the '70s. FDR argued for SS to reduce "dependency" among the elderly, while now it can't reformed because the elderly are, guess what, "dependent" on SS for their only income. Abolish it now!


Note: Comments are moderated by the editor and are subject to editing.

Submit a comment on this article

Other reader comments on this item

Title By Date
Social security wasn't supposed to be welfare! [30 words]Tibor R. MachanNov 20, 2012 20:46
⇒ Even Prof. Machan gets it wrong (in part)!! [142 words]David in IrvineNov 22, 2012 14:49
Getting back what you put in. [62 words]Tibor R. MachanNov 22, 2012 22:25
Mitt is right [40 words]Ralph RodgersNov 20, 2012 11:58
Makers and Takers [213 words]James HallNov 20, 2012 11:44
confusing comment [30 words]MattNov 20, 2012 12:04

Comment on this item

Mark my comment as a response to Even Prof. Machan gets it wrong (in part)!! by David in Irvine

Email me if someone replies to my comment

Note: Comments are moderated by the editor and are subject to editing.