Politicians say Social Security is a solemn contract between government and the people. Well, a contract is enforceable in court. And in our litigious society it’s not surprising that someone did take the government to court to get what he said he was owed from Social Security.
The case, Flemming v. Nestor, went all the way to the U.S. Supreme Court. After paying in year after year, care to guess what the High Court says you are entitled to from Social Security? Is it (a) a set monthly payment, (b) at least 10 percent of what you’ve paid in, (c) whatever is behind door #3, or (d) whatever Congress says you get? The court’s answer was (d) whatever Congress says you get. Some contract.
The politicians are charging us over 15 percent of our income, but not guaranteeing us any specific benefit. You could die without ever getting back a dime, and your family wouldn’t get a dime either. Politicians have broken the contract on Social Security. They admit we must fix the System, but do nothing. They’ll simply wait until the money runs dry, blame others and then raise your taxes, slash benefits, or both.
Term-limited Representative Mark Sanford has a different plan. He says take Social Security out of the hands of politicians and let Americans control their own financial futures. Sometimes tough problems have pretty easy solutions.
This is Common Sense. I’m Paul Jacob.