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America should Abolish Social Security

Why America Should Abolish Social Security

Note: This is a guest article written by an anonymous reader who thought a follow up to my article about why Social Security is unsustainable was needed. He thought that America should abolish Social Security, and I agree. The national debt is skyrocketing, so now is the time to not only demand no new entitlements but also start to cut ineffective and costly programs like Social Security. I have added a few sentences, but it is otherwise his original article. Enjoy! -Gen Z Conservative

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Social Security isn’t working. Politicians should take this four-step plan to scrap it.

I’ll admit, it’s not popular to say that America should abolish Social Security. Scraping the all popular Social Security Administration sounds like an unpopular political move to most of the American people.

But, we also have to admit that the system no longer works as was intended. The concept of the program actually is based on the socialist ideology of wealth redistribution, since the payroll tax is used to benefit the retirees already collecting their benefits.

Since 1935, when FDR signed into law the Social Security Act, the system has undergone so many changes that even the Social Security number is now our personal financial identification number.

This is a dangerous move that has been bestowed upon us, because now if anyone got a hold of that number that we didn’t intend for them to have, we would find our bank accounts garnished and be plunged into financial chaos. This is one of the main issues in regards to scrapping the program altogether.

We do not need to depend on the government for retirement security, as it is against the intentions of the Founding Fathers for what government was meant to be. The government was not meant to be your solution to the coming retirement crisis; the American people need to take responsibility to save for retirement, and there are many options for that, such as having a 401k, IRA, Roth IRA, etc. You just need to learn the importance of saving and investing in the different asset classes sooner rather than later, as Ray Dalio discusses in Principles.

With that, we’ll look at the four-step plan that our Washington, D.C. lawmakers should consider implementing. It is a safe and effective plan that does not damage anyone’s current trust fund or benefits.

Step 1: Stop giving social security numbers to newborn children in America.

The system will always be egged on by the constant giving of American newborns a social security number upon birth. Because the Social Security number is now considered your personal identification number, one would think of it as unwise to not have it. It is used for obtaining credit, opening a bank account, as well as successfully getting a job. It is also used for gaining private insurance, buying a home, buying a car, as well as many other things.

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Because of this phenomenon, incentives would have to be implemented to help Americans who will not obtain a number after the start of the SSA scrapping. Employers will need to realize this after about 14 years after the period has begun since, by this time, a few young Americans will be looking for work.

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Step 2: Eliminate the payroll tax.

U.S. News opinion contributor Dean Clancy published in 2015 that in order to reform Social Security, the payroll tax would have to be eliminated. In his column, he writes that the “payroll tax receipts are insufficient to pay promised benefits.”

For decades, the trustees of the Social Security program have annually warned that the trust fund is out of balance and, absent reforms, will go broke.” He also writes later that “either everyone’s monthly Social Security check will have to be reduced by 25 percent, or payroll receipts will have to be increased by 25 percent, or millions of retirees will have to be dropped from the rolls. Realistically, politicians will balk.”

The Social Security payroll tax must be eliminated. It’s what eggs on the system. Over the years as inflation has continued to rise, the payroll tax has increased. The current tax rate is 15.30% (7.65% paid by the employee and 7.65% paid by the employer). D.C. politicians have over the years squabbled over how to handle the system, as it is continually becoming irrelevant.

Democrats have longed to keep increasing the payroll tax in order to meet benefit demands. (What else is new? Raising taxes is a part of their platform and they absolutely hate Trump’s tax cuts). Republicans disagree, and would rather reduce benefits, which is highly unpopular. All in all, both parties do not take a stance of altogether getting rid of Social Security.

3. Pay benefits to those who contributed before the payroll tax elimination.

The obligation has to be fulfilled for those who paid into their Social Security trust funds. Because current funds collected by the payroll tax goes to paying benefits for those already retired, there would be no money for those already contributing. Although better than Social Security and other entitlement programs one day eating up 100% of the federal budget, a portion of the federal budget will still have to be dedicated to fulfilling Social Security needs.

One aspect of Social Security that gets overlooked is that it, along with Medicare and Medicaid, contributes to the ever-rising national debt. The cost is so overwhelming to run these programs that the federal government has to borrow money and add to the national debt just to keep them running.

4. Shut down the Social Security Administration.

After the last benefit check has gone out, the nightmarish socialist-designed program can finally be shut down and only remain in the history books.

A private retirement plan is better than a government-run trust fund administration that is not guaranteed to make life better. The money that you use to pay the payroll tax can easily be used to contribute to an IRA or 401k. Maybe that money can even be used to invest in the stock market (as risky as that sounds) and you will possibly get a better rate of return to use in retirement, far more so than what a Social Security check would provide. Americans must take charge of their retirement instead of relying on the government. It’s time for America to abolish Social Security.

By: A Concerned Patriot

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6 thoughts on “America should Abolish Social Security”

  1. Sounds great. I’m all for it. But, what about my money the gov’t has taken from me since I was 15? I’d take a lump sum of the following, then SHUT IT DOWN.

    For Social Security
    Paid by you: $149,054
    Paid by your employers: $105,318

    In fact, to do my part, I’d be willing to take a reduced transfer of my funds from my “gov’t account” to my personal account.

    1. I totally agree. I think it should be a tax-free, one-time payment to everyone who has paid into the system in the amount they’ve paid in.

  2. I like the idea of it. I do. But I’m weary of money hungry politicians finding away to make a grab for the lump sums. I also don’t like the idea of people, millions of ppl, that have zero idea how to invest, where to invest, or who to go through. There are too many grifters in the investment world, and not everyone graduates H.S. with a firm grasp on math, let alone financial securities. I mean, alot of pple rely on the fact that ss will be there. And what happens to all the cases of ppl who didn’t make enough to invest?

    Asking for a friend????

  3. Not to mention the fact that the Gov’t has a debt to repay to the Ss accounts as it is. What happens to that owed money?

    *My apologies, I meant to include this thought with my first comment.

  4. I understand anyone not wanting to continue this mandated contribution of their pay. Believe me, every generation has felt the same way, since the 1st gen to draw SS was the one who implemented it and paid zero into it. That being said, I want my money that was withheld from MY pay since I started working at 14 y/o (documented). The funds have been diverted repeatedly, and any amount deemed “overage” is available to and used by congress at will. Shut ‘er down, but I want an immediate refund..UNTAXED since the govt used it interest free all these years…

  5. Social Security will never be eliminated in our lifetime, or that of my kids. But that doesn’t mean there aren’t steps that we can take to safeguard the promises that have been made to older generations while reforming the system so that it remains solvent and can continue to act as a savings instrument for American workers.

    I’ve covered this in my campaign platform at, but by changing the system from defined benefit to defined contribution and making it more like a 401k plan, we can continue to fund existing entitlements while weening workers 50 and under off of the system over a 30 year phase out period. By moving the employee portion of the payroll tax to personal accounts, keeping the employer portion of the payroll tax to fund existing entitlements, and most importantly removing the $132k cap on earnings we can fix the system and make it a larger return for the employees paying the taxes.

    Standard S&P index funds return well above 3%, where Social Security in it’s current form will pay back a return to the worker of about 1.5% over their retirement. Add in benefits such as loans for hardship and home purchase and we’re not only jump starting business growth by investing these taxes in American companies but also creating an ability of younger workers to obtain their most important asset more quickly, property.

    Phasing out existing benefits at a rate of 3.3% per year on those 50 and younger will make sure that people who have paid in still receive some benefit, but will provide them with both more economic freedom but also certainty in their future returns. Making everyone over 50 exempt from the changes will eliminate the largest voting obstacle to reforming the system.

    Yes, companies that employ individuals making more than $132k will see a 6.5% increase on their payroll needs, but let’s face it, if your business employs high income earners you’ll be able stomach these increases as cost of employment and benefits. Maybe you’ll see smaller bonuses for these workers, maybe increased portions of employee insurance plan costs, but nothing earth shattering.

    It’s good to have a retirement safety net, and the system is well intended, but reform is needed and soon. Getting rid of this entitlement debacle will also go a long way towards reduces our $23 trillion debt.

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