Is Social Security Racist?
We find
that for many decades, Social Security redistributed from blacks, Hispanics, and other people of color, to whites. These transfers will likely to continue in future decades. Our findings suggest that future reforms that place the burden of Social Security reform solely on younger, more diverse generations may have undesired distributional consequences if the aim of the program is to provide greater relative protections to more vulnerable groups.
Source: Eugene Steuerle, et. al.
The whole point of SS is to redistribute, of course there will be patterns of discrimination that emerge.
Oh redistribution..
Considering the Social Security Card is the most easily forged Federal document I would say it isn’t racist at all. In fact it encourages immigrants to make fakes in order to work.
Isn’t it time that we start planning for the “Social Security” system of tomorrow?
The Chilean Pension system is something that might be a worthwhile study.
There are certainly some good ideas that can come from that system. Having the people take responsibility for their own future is a key point.
Any reforms must promote incentives that encourage wise choices.
Quite the opposite of the perverse incentives that the current administration seems to be fond of creating.
I love that this came from the Urban Institute, although I’m sure the gravity of “big government is racist” is lost on them.
The younger generations need to come up with an idea quick because this current system is sinking fairly rapidly.
Since it started
Social Security mostly robs from singles and the childfree in favor of spouses and their brood. Medicare also favors indolent spouses. Of course, like the Tax Code, social welfare programs greatly favor matrimania and breeding.
If a man marries 5 women at age 18, divorcing each in sequence after 10 years of marriage, every one of the women will gain rights to SS benefits based on his earnings, though none of them have ever worked.
Mormons make out like bandits: every one of their indolent wives and 50 kids are entitled to benefits based on the man’s earnings.
Then, of course, there’s the right of indolent disabled folks to SS benefits, too.
As I like to say to my grandchildren: “Out of your dad’s paycheck, right into my SS check.” Of course then I buy them a treat.
I’d say the same to your grandchildren, and I only have to sacrifice years paying taxes to give them a lousy education.
Social Security is starting to really get messed up, but you have great advice on how to manage it, I read an article at http://blog.mutualfundstore.com/retirement/experts-take-on-social-security-questions/ and it sounds really good. I’d suggest looking there for some more info as well. Good job on your post!!