The “Homer Simpson Approach” to Social Security

I’m pleased to note that Paul Hsieh’s latest article on PajamasMedia quotes from and links to my post On Eliminating Social Security, here on the Repeal the Bailouts Blog:

The Homer Simpson Approach to Social Security by Paul Hsieh

Paul’s article is excellent, as always. Like my post, it shines a light on the “dirty secret” of Social Security: that everything that’s been “paid in” to the so-called trust fund over the years is now gone. There are no “assets” left in it except a promise to stick tomorrow’s workers with the tax bill for the already squandered payments of yesterday’s. As Thomas Jefferson implicitly observed (Jefferson on Future Debt), that’s a prospect and a burden that one generation has no right to impose on the next — and as I argue, that the latter has no moral obligation to accept.

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