"Making the system [Social Security] sustainable will require higher taxes or benefits reductions. These reductions could be achieved by either reducing the benefits per recipient or reducing the number of beneficiaries - say, by raising the benefits per recipient or reducing the number of beneficiaries - say, by raising the minimum age requirements. The solution is to give workers a negative rate of return o the money that is take from them. It would also help if some workers collected no benefits at all. Workers who are taxed and then dies before collecting any benefits are a boon to the system. Maybe the federal government should rethink its war on tobacco."
Mark Brandly
Professor of Economics, Ferris State University
Adjunct Scholar of the Ludwig von Mises Institute
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