Social Security Choice: Ideological Differences

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February 8, 2005

Ideological Differences

Jim Wooten and editors at Investor’s Business Daily (IBD) discuss the fundamental ideological differences between conservatives and liberals in the debate regarding restructuring the Social Security system. The debate can be viewed as one between supporters of individualism and free market solutions and supporters of the welfare state. Wooten states, bq. And the politicos are now joined by the chattering class commentators who simply cannot fathom a world in which individuals are encouraged to wean themselves from dependence on the state. Time and again — on Social Security, on public education, on health savings accounts, on welfare reform — the entrenched opposition to any change in the status quo is mind-boggling. Liberals in Congress and the media see no problem in reverting to their decades-old “solution” of advocating tax increases to solve the Social Security crisis. IBD’s editors write, bq. Liberals don't deny that taxes would have to be raised to keep Social Security solvent without sharply cutting benefits. (As they put it, part of the Bush tax cuts should be "rolled back.") And higher taxes have at least one sure effect: They expand government, a consumer of wealth, at the expense of individuals and the wealth-producing market. People have less wealth of their own and come to depend on government more. Continuing to make rational arguments to sway an irrational group devoid of commonsense solutions to saving our economic infrastructure may prove to be an exercise in futility. It is indeed “mind-boggling” to comprehend the rationale behind proposing tax increases to fix the broken Social Security structure. President Bush and Congressional Republicans must remain vigilant in explaining to the public the long-term benefits of their plan for personal retirement accounts. At the same time, Republicans must realize that the enemies of economic freedom are fighting for their ideological and political lives. That fact is becoming apparent as we continue to draw back the curtain on the realities of liberalism and liberal fiscal policy.

Posted by Herman Cain at February 8, 2005 1:34 PM | Print

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