SaltineWarrior wrote:
How'd social security work out?
Horrible article. The media is getting worse with these biases.
Hey genius - social security could've been fixed if Bush and company didn't just ignore it his entire time in office, despite the fact that everyone in those elections swore they had a solution for it.
And this is an editorial - it's supposed to present a point of view, not a straight up news presentation with no bias. No wonder you didn't like the article
To be fair, Democrats used a lot of mistruths and hyperbole when Bush tried to make even the smallest changes to Social Security in 2005. People have shortmemories but as I recall, they more or less said that instead of pulling the plug on grandma, as the GOP says about healthcare reform now, the Dems said thatgrandma would be thrown out on the street. And to be honest, Republicans are not totally lying when they talk about pulling the plug while the Dems werecompletely lying in 2005 when Bush tried to make very modest reforms to a broken entitlement system.
As far as this editorial is concerned, I am a libertarian so there are instances when Republicans do not get their way that I am happy. I would say that someof those forms of progress like social security are insolvent and are not something about which one should boast. More importantly, you have to realize thatsocial security crowds out what could be perhaps more efficient social insurance. Before social security, workers often times organized themselves intofraternal lodges and one of their primary functions was to compensate families of killed or disabled workers. In today's economy, which is much richer andproductive, with work places that are much safer, private life insurance would be much cheaper, robust, stable and generous than it is today and the reason isbecause those taxes taken in social security could be placed in life long annuities and insurance funds.
There are some desirable aspects to tax payer financed, universal social benefits but there are costs and it is just just tax dollars. There is the cost ofcrowding out philanthropy and private efforts to insure one's self and that crowding out should be taken into account when lauding New Deal and GreatSociety programs.