Back in the early 1980s, I burned my Social Security card at the New Orleans Investment Conference in protest of the state pension system created by Franklin D. Roosevelt in the 1930s. I consider it a bad social program for a variety of reasons — it’s universal instead of just for those who need it; it imposes a huge payroll tax (now 15%) on the working poor, keeping them from saving money; and it overpromises retirees, creating more than $8 trillion in unfunded liabilities.


Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.