"Do Not Oppress the Widow or the Fatherless. . ."

State monopolies didn't work in Russia, and they don't work here. Hence the never-ending Social Security crisis.

by Rod D. Martin
November 21, 1997

Alan Greenspan's announcement Thursday that Social Security is in trouble told us nothing most Americans didn't already know, but did underscore one of the most vital facts of our day: Social Security is the greatest pyramid scam of all time, and it's time to quit stealing from the old.

Greenspan didn't say that. But he should have.

Social Security is not at all what it appears to be. People are told that they pay into a "trust fund" which will provide for them in old age, but of course this is lie: whatever monies Social Security taxes take in are spent immediately, both on the program itself and on other federal programs as well. This should be obvious. If your money was really in a trust fund, there would be no issue as to whether it would be there when you retired.

Social Security's less intelligent (or more dishonest) defenders sometimes claim that you will receive far more from the program upon retirement than you paid in. This is true, but only in …