The truth about Social Security on its 90th anniversary.

The ninety year old intergenerational chain letter should be replaced with individual savings accounts.

Please help me reach the goal of 100,000 subscribers by January 1, 2026. Please forward this post to family, friends, colleagues, and neighbors. The goal is to help spread the ideas of peace, economic freedom, and civil liberties. If every subscriber can recruit 9 new subscribers who in turn invite 10 others to become a member of the most important initiative to restore the republic, MAFI, then we will leave a lasting legacy for future generations.

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Today is the 90^th anniversary of the most “sacred” federal government program, which was signed into law by FDR at the depths of the Great Depression.

Social Security is called the “third rail” of American politics—touch it and you die.

Nevertheless, Social Security, as one critic asserted, is neither “social” nor “secure.” SS was bailed out twice--once during the Carter administration and then in Reagan’s first term, revealing the fundamental flaws in SS. It is financially unsustainable.

Currently, the so-called SS trust fund will be depleted in the next decade, which will cause benefits to be cut about 20% if taxes are not hiked to continue America’s long running intergenerational chain letter.

What is the truth about how Congress passed the Social Security Act, a bill that had critics asserting it was unconstitutional and unsustainable?

Two essays provide the answers about how SS was “sold” to the public, members of Congress, and the Supreme Court, which declared the program constitutional.

John Attrain’s history of the roots of SS is a must read to understand how government officials lied through their teeth to justify the chain letter.

In the same vein, Gregory Bresiger “secret history” of Social Security dissects the evolution of government social service programs and how statist ideology became “mainstream” as opinion molders were able to spread these noxious ideas throughout America.

(For further reading about SS, see the scores of articles at mises.org.)

This brings me to several fundamental objections to SS.

1. SS is not authorized by Article I, Sec. 8 of the Constitution. SS is therefore unconstitutional.

2. A private investment firm could not offer a retirement program structured like SS; it would be illegal.

3. People should save on their own and would earn a far greater return than SS promises.

4. SS is another example of “legal plunder.” Everyone is coerced to participate in SS even if they want to save for themselves.

5. Social Security has undermined the family and personal responsibility.

These are the most obvious criticisms of Social Security.

However, Bastiat provided a succinct explanation why government programs are unnecessary to obtain services that are considered government prerogatives.

“Socialism, like the ancient ideas from which it springs, confuses the distinction between government and society. As a result of this, every time we object to a thing being done by government, the socialists conclude that we object to its being done at all. We disapprove of state education. Then the socialists say that we are opposed to any education. We object to a state religion. Then the socialists say that we want no religion at all. We object to a state-enforced equality. Then they say that we are against equality. And so on, and so on. It is as if the socialists were to accuse us of not wanting persons to eat because we do not want the state to raise grain.”

In one neat paragraph, Bastiat makes the case for limited government and free enterprise.

In a forthcoming post I will present a detailed phase out of SS.

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In talk shows and podcasts I have asserted that President Trump thinks he is the CEO of America Inc. People have been listening as the NYT op-ed makes the exact same point I have made over the past several months.

John Katz opines why Americans need more prayer to deal with the issue facing the country.

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Three new essays about MAFI, abolishing the income tax, and nonprofitization.

https://cloutstars.com/murray-sabrins-strategy-to-end-taxes-and-supercharge-american-philanthropy/

https://futuremillionairesmagazine.com/from-professor-to-public-advocate-how-murray-sabrin-is-fighting-for-financial-freedom/

https://businesssharksmagazine.com/murray-sabrins-mission-making-americans-financially-independent-one-bold-idea-at-a-time/

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I am contemplating forming an exploratory committee to seek the GOP 2028 presidential nomination. I have contacted numerous longtime friends and new friends and the consensus has been, Why not? A majority of the American people polled believe the country is on the wrong track. We need a “reset.” I believe I could help restore the American republic. I therefore would appreciate your feedback regarding forming a presidential exploratory committee. Thank you.

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Murray Sabrin, PhD, is emeritus professor of finance, Ramapo College of New Jersey. Dr. Sabrin is considered a “public intellectual” for writing about the economy in scholarly and popular publications. His book, The Finance of Health Care: Wellness and Innovative Approaches to Employee Medical Insurance (Business Expert Press, Oct. 24, 2022), and his other BEP publication, Navigating the Boom/Bust Cycle: An Entrepreneur’s Survival Guide (October 2021), provides decision makers with tools needed to help manage their businesses during the business cycle. Sabrin's autobiography, From Immigrant to Public Intellectual: An American Story, was published in November, 2022. He is also the author of Why the Federal Reserve Sucks.