When Social Security was initially rolled out, it was a great liberal program with conservative applications. It was supposed to be part of three legged stool—Social Security, pension and private retirement accounts. Since then, too many people have come to rely on it entirely. It can’t be that way going forward, especially since we have also become victims of extended life expectancies. Changes are necessary.
For Americans over age 55, we should uphold the promise of Social Security, but for younger people there must be a different way. City and County governments that opted out of Social Security have shown that utilizing some private accounts is a better way to secure retirement. On a national level, I support funding private accounts with some of the Social Security contributions and creating a defined benefit program with the remaining funds.Share
Currently, there is no related media.View All Media