"Social Security - the Way Out"

Chapter Summaries

Chapter 1: "The Constitutional History of Social Security"

We review the constitutionality of the social security system. In doing this research, we have discovered that social security is indeed unconstitutional, in that appropriating money for employee retirement benefits is a local function reserved to the states by the Tenth Amendment. In this volume, we expose the trickery and deceptions used by the Supreme Court to uphold the Act.

Chapter 2: "The Economics of Social Security"

We examine the economics behind the system and show that it’s run as a pyramid scheme that would be illegal if run by a private insurance company, that there’s no true reserve fund, that employees are taxed multiple times for their benefits, that the survival of the system is hinged on a large ratio between current workers and retirees, that the ratio was 45-1 after World War II but has fallen to 3-1, that the system will go bankrupt in a few years as the ratio drops 2-1, and due to various other economic problems. If this volume had to be boiled down to one sentence, it would be the following : Government programs don’t work because they’re not accountable. (We didn’t write this volume with this intention. The facts inescapably led to this conclusion.)

Chapter 3: "Social Security Compared with Private Markets"

The comparisons used here show that if the same money that a worker pays in Social Security taxes was applied to the most conservative of investments, such as a bank account or retirement annuity, the return would be many times what social security pays and would leave a large principal which the worker could pass on to his heirs. This is true not only for the rich, but for the middle-class and poor workers as well. Actually, the poor pay more for their benefits than do the wealthy, and blacks pay more than whites.

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