One of the most important financial issues to me since my very first accounting class has been the absolute insanity, instability and unfairness of the Social Security system; which is why helping people avoid flushing tens of thousand of dollars down this commode each year has been a big focus of tax planning for my clients the past almost 30 years. 

It's good to see that no time is being wasted after the election in addressing how this Ponzi Scheme needs to be fixed.  I'm not really that optimistic that the huge changes that are necessary will be forthcoming any time soon; but at least the debate is moving forward.

The normal hysterical reactions for the Left are right on schedule, such as with this comic that wants to paint the idea of allowing people to have their own privately controlled retirement accounts as a terrible idea because evil stockbrokers would be earning commissions on those transactions.  According to our betters on the Left, all good comrades should know that all money in this country belongs to the government and allowing any private market control is inherently evil.  What they are really afraid of is losing access to those trillions of dollars in Social Security funds that are currently being commingled with general operating revenues; something that is illegal in the world of privately controlled retirement accounts. 

Andrew Roth at the Club For Growth has been posting links to some very good articles on this topic, such as these today:

Social Security: House of Cards - By Ron Paul, previous Libertarian Presidential Candidate

Personal accounts, not benefit cuts - By Jack Kemp

- posted by Kerry M. Kerstetter, MBA~CPA~ATP~ATA @ 11/09/2004 11:18:00 AM Send this post: