How is Social Security different in kind from any other government program? Charles Rounds argues that it is not different at all.
Charles Rounds
Latest work
Social Security is not an insurance program. A Social Security “account” bears no legal resemblance whatsoever to a bank checking or saving account. Social Security bestows no contractual rights or any other type of property right on workers. In other words, Social Security as it is currently structured has nothing to do with legally enforceable promises or guarantees.