Posted by: The Elephant Owner in Economics,Election on June 16th, 2008

Social Security was setup as a safety net for seniors. The original concept put forth by FDR forced citizens to put money into the system. If they lived past the life expectancy, the government would then give some of that money back. You were paying for you own retirement…if you lived long enough.

Thinks have changed. People are living longer and the system is going broke.

Barack Obama has proposed the most radical change ever suggested for the Social Security plan. He wants to change it from an awful retirement plan to an awful welfare plan. Obama has proposed lifting the limit on the salary that gets social security money deducted. Those rich people won’t be getting more back, they will just be funding the program for those that don’t put enough in.

Essentially, Obama is proposing wealth redistribution and he wants to use Social Security as the vehicle.  That’s change alright. It’s just not a good change.

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