The Social Security system might have been a good idea in 1936, when seniors faced the collapse of asset values in the Great Depression — including the devaluation of their bank savings in 1933 — while their adult children were also out of work and struggling to feed their own children. It might have been a good idea in 1950, when the ratio of payers to recipients was 16.5:1, and the tax rate had climbed to 3.0% combined. But it is definitely not a good idea in 2026, or for the foreseeable next fifty years. Read More ›
