By Jennifer Williams, Contributor, US Daily Review.
Today, I have been grading discussion boards on the Great Depression. As I go through the textbook again, I am always surprised and alarmed at the positive light place on the Roosevelt administration’s machinations to subvert private enterprise and create government monopolies (see the Tennessee Valley Authority for just one egregious example). But I am not surprised that my students believe government intervention in the economy was a good thing – the textbook creates little doubt about the veracity of the federal programs. At least Roosevelt understood and abandoned some of his most controversial and unworkable pieces of legislation but his administration’s legacy is seen in today’s society – we always look to government to solve our problems without TRULY understanding what the ramifications are.
I will not have a Social Security check when I retire – I am positive of it. We need to dismantle the behemoth without fear and trepidation. It will create a temporary drag on the future economy as the beneficiaries outnumber the contributors but eventually it will be phased out by attrition. Those who draw from it will simply die off. But put a date on it – after January 1, 2020, all current workers will receive ANY contributions placed into the system in a lump sum for investment. If you do not invest, too darn bad. No rescue by the government. But those drawing from the system will continue to receive their checks. Oh – and remove the double income earner penalty. The antiquated system was planned for only one household income earner. Both income earners who paid into the system should receive a lump sum payment check to invest. Until January 1, 2020, I should have the option to take my lump sum investment and roll it into my current investment portfolio or not and without penalty. If I have an immediate need to pay off a bill, I may do that and invest the balance. This would be a one-time payment, NOT subject to any tax since it was taken forcibly from me as a tax in the first place. Yes, it would create a temporary drag as these payments were sent out to every current contributor. But it could be done on a rolling basis according to age. Those of us closest to retirement will need to invest immediately. But we can also have the option FOR the lump sum amount OR Social Security if we are eligible for retirement through January 1, 2020. Make it work, guys. I know you can do it with enough motivation and encouragement. The system is already broken – take it apart and throw it away.
Explain the issue in clear details – use bullet points since our attention span is so short these days. Better yet, TWEET it or post a status. Get the word out – Social Security is being pulled down and you NOW have more money in your pocket to invest or spend. We will continue to pay out contributions for current Social Security recipients who are retired or on disability through a very date. If you are not receiving Social Security and not disabled, you will need to look at disability insurance that will pay dividends in the future should you find yourself in that situation. On top of it, make the legislation iron clad so that it cannot be revised or changed when the administration changes. The government is getting out of the retirement system. This includes you, Baby Man, who embodies the true meaning of entitlement baby. Cut him off NOW. Work for it, bub. Sell your adult-sized baby furniture to the fetish crowd and EARN a living like the rest of us. Yes, it will force you to grow up but it’s a good thing. It’s time we stop expecting the government to take care of us and take care of ourselves.
Jennifer Williams is adjunct faculty in American History at Ashland (OH) University and the American Public University System. She is also the teaching chef for the New Day Family Resource Center in Sandusky, Ohio. Her interests are photography and curling. She lives with her family in Norwalk, Ohio.