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Apr 16, 2011

The Truth About Social Security

from Issues In Perspective Hosted by Dr. Jim Eckman

The economist, Robert Samuelson, has an interesting take on Social Security: He calls it ?welfare.? Here is why: First, it taxes one group to support another group, meaning it is pay-as-you-go and not a contributory scheme where people?s own savings pay their later benefits. Second, Congress can constantly alter benefits, reflecting changing needs, economic conditions and politics. Let?s think about this provocative thesis.

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