I am reading a new book by Don Watkins entitled Rooseveltcare: How Social Security is Sabotaging the Land of Self-Reliance that says “yes, it is.” From the description:
Today we are at a crossroads. America’s entitlement state is threatening to bankrupt us, and new schemes such as ObamaCare are hastening the collapse. What should we do? In this provocative look at America before and after Social Security, Don Watkins argues that the answer is as simple as it is controversial: Abolish the entitlement state, starting with the retirement program that created it. This is not another book for policy wonks about the financial trouble the entitlement state is in. This is the story of the role that Social Security has played in eroding the eagerness, energy and optimism that once defined America. And it is a guide for fighting back.
Social Security erodes our self-reliance: “By seizing a sizable and ever-growing portion of our income, the entitlement state makes self-reliance more and more difficult. Every dollar the government seizes comes at the expense of your hopes and dreams.” Self-reliance, Watkins states, “provided Americans with the greatest possible freedom and incentive to produce. The entitlement state curtails that freedom and dampens those incentives by taxing work and subsidizing non-work.” The book looks at the history of Social Security in the US and how many Americans are worse off because of it.
What is your view of Social Security: Weapon of Mass Destruction or worth the price to those who pay in?