Jeff Neal for C.U.R.E. - Certain Unalienable Rights Endowment

Social Security is Wisconsin writ large

In Economics, Financial on February 24, 2011 at 9:25 am

The controversy in Wisconsin incidentally involves unions and teachers.  The core problem is what is euphemistically called ‘unfunded liabilities.’  In Tennessee we call it either broken promise or a fraud.

For years and years, government officials have promised to give Person A something (health care or retirement income) in the future.  We all know that the only way the government can do that is by taking Person B’s money from him (see earlier piece about government’s wealth creating impotence).  The promise made to Person A is just a (future) tax on Person B.

Social Security, Medicaid, Medicare, unemployment insurance, ObamaCare . . . they’re all schemes manufactured by politicians to transfer wealth from Person B to Person A in exchange for Person A’s vote.  Looks like a sweet deal for Person A, because the payoff for him is immediate.  What all the Persons A (YOU!) don’t seem to understand is there are only so many Persons B (also YOU!).  And when the time comes to collect, everybody (well, every taxpayer – there are some net takers – about 1/2 the country, that is) is a Person B.  There is no free lunch, or to paraphrase Maggie Thatcher, evetually you run out of Persons B.

Among other purposes, the government our founders established had as its primary responsibility protecting free men’s rights and property from other men’s grimy hands.  Now the government is the theif with grimy hands.

Our Constitution worked while it was operative.  However, now our governments at all levels are run by men and women who routinely ignore the Constitution.  They proudly declare that their mission is ‘protecting’ this group or that constituency, and that protection is accomplished by TAKING money from someone else.  As charitable as they make it sound, as sympathetic as the recipient of the loot may be, it’s still theft.   That the man with the gun also has a badge or IRS i.d. card doesn’t change the nature of the act.  An unfunded liability perpetrated by the government is generational theft, it is taking one man’s future and giving it to another man to spend today.

We need a better brand of politicians.  Let’s find them and soon.

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