Social Security Archive

The True Cost

By James Schaefer. There is an enormous cost to taxpayers -- and to the American economy, and to government -- by having the Social Security system structured and administered the way it currently is. Holding the Social Security Trust Fund in safe but low-yield U.S. Treasuries -- "backed by the full faith...
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So. There Really Was Enough Money After All . . .

By James Schaefer.   The existence of the Alternate Plan, which substitutes for Social Security in three Texas counties, is proof that Social Security has collected sufficient FICA revenue over the decades to keep the system solvent (Perry Is Right; There Is a Texas Model for Fixing Social Security, Wall Street Journal, September...
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Notes from the old New Deal

by Michael Smith. I ran across some historical tidbits about Social Security on the Internet. The first person to receive benefits was Ernest Ackerman, who collected 17 cents in January 1937. Mister, we could use a man like Ernest Ackerman again…and again…and again. He might lead the way to solvency. As it...
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Friedman follow-up

by Michael Smith. Tom Friedman’s column from last week ruffled some feathers, evidently. Paul Krugman has come out to denounce warnings about Greece’s debt as fodder for “people who opposed health care reform and are itching for an excuse to dismantle Social Security.” I’m sure Friedman will be happy to learn that...
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