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Old 06-28-2008, 08:16 AM
LordBaltimore LordBaltimore is offline
Join Date: Mar 2007
Posts: 12
Default Re: Working Blue

Responding to Twinswords: I agree with you that Social Security is a great program, but it is not a true insurance program. Here are some quotes from a 1959 brief filed by the federal government to support its position that a Bulgarian-born alien who was deported for being a Communist should not receive Social Security despite having paid in over many years (please don't misunderstand me as voicing approval for this decision):

"The OASI [Old-Age and Survivors Insurance] program is in no sense a federally-administered 'insurance program' under which each worker pays premiums over the years and acquires at retirement an indefeasible right to receive for life a fixed monthly benefit, irrespective of the conditions which Congress has chosen to impose from time to time."

"While the Act uses the term 'insurance,' the true nature of the program is to be determined from its actual incidents."

"The 'contribution' . . . is a true tax. It is not comparable to a premium under a policy of insurance promising the payment of an annuity commencing at a designated age."

"The beneficiary or prospective beneficiary of the OASI program acquires no interest in the fund itself."

I cribbed these excerpts from the Lew Rockwell website (he's a libertarian) but I think they're correct.

I'd rather that Social Security were a true insurance program, but I think the evidence is clear that for the past 70 years that hasn't actually been the case.
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