Thursday, November 25, 2004

Not Only Stupid, It's Not Nice

Would any significant portion of sentient people want a system that requires currently productive people be "robbed" of a portion of what they produce, in order to give it to other people, simply because they are over a certain age?

One can only scratch one's head at hearing the argument that it's okay to continue with such a system, because, one day, our current victims will be allowed to victimize new generations of labor and capital. Such as happened recently at Angry Bear:

It is true that my Social Security retirement prefunding was spent but was it spent on me? Let's assume I'm a worker and you earn mostly capital income. My payroll contributions are being converted to TAXES so your tax rate can be lower. Yes, I have been robbed!

Amazingly, the author of the above--initials, pgl--claims to be an economist.

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