Social Security - My View

A quick post about my views on what should be done with Social Security. I think that the taxes that we pay to Social Security should be invested in the stock market, rather than borrowed by the government. Given the choice of privatization vs. keeping Social Security the way it is now, I would choose privatization.

I think it would be best if the money were just invested in the stock market, and the money paid out would be a portion of the return. A small percentage of the return would be kept in the fund as insurance to cover losses in a down market.

As a libertarian, I am generally opposed to government funded social programs. My feeling about charity is that people in general are caring, and if they have money they will contribute towards the betterment of society. I prefer lower taxes, so I can get rich faster, then I will be able to volunteer and contribute to charities to help out people who haven't been able to do as well in society.

When it comes to Social Security, I think we should keep it around. People have been contributing to Social Security for years, and even though the government has done a poor job of managing that money, they deserve to get their taxes back as benefits. Changes should be made to Social Security so the government can't use our money to pay for government programs, it should only be used to support the tax payers.

I will have several posts about different aspects of the possible changes to Social Security in the near future.