Tuesday, January 11, 2011

Saving Social Security

I expect to retire from Federal service no later than the end of the year 2020, at which time I will have just turned 66, and am eligible for Social Security benefits. Or I'll hold out and work part-time until the end of 2024, at which time I will have just turned 70. Then I would draw from Social Security (among other things), and stick to free-lance writing no more than fifteen hours a week.

But will Social Security still be there?

We've mentioned the work of the Cato Institute here more than once. Their own Dan Mitchell explains how the system is being rescued in other countries, and how it can be saved here. But will it be saved for people in my age group?

I can still remember when Ronald Reagan had a syndicated radio program in the 1970s, where he talked about privatizing Social Security. At the time, I thought he was crazy, but I didn't know why. Now I'm beginning to think he wasn't, and I do know why.

Unless one of you aging trust-fund socialist-hippie bozos has a better idea. Let's hear it.

1 comment:

Suibhne said...

Social Security isn't there now. It was raided years ago. Current recipients are paid via the taxes taken out of the paychecks of the current workforce. It is a huge scam.