Social Security Is Insurance

Republicans and conservatives are fond of referring to Social Security as "handouts" and "welfare" (and just for the record, Robert Samuelson, you are an idiot) in an effort to make the program seem morally wrong. President Reagan taught us to hate welfare because a lot of African Americans get it (even though the majority of recipients are caucasian), so calling it "welfare" rubs us the same wrong way. And who approves of anyone getting "handouts"? Republicans hate dealing with anyone needy enough to need help--you know, like the elderly.

Well, Social Security is neither welfare nor handouts. It's insurance. It's insurance you buy all during the course of your working life against the possibility of not having enough money to live on after you retire. You pay the premiums; you deserve the payoff when you get old enough to collect benefits. The fact that it's a pay-as-you-go system doesn't change this characteristic of the program one bit.

Imagine if you bought car insurance from XYZ Insurance Corporation. You pay your premiums faithfully for 20 years. Then one day, you get into an accident, and your car is totaled (you're OK). You go to your XYZ representative and say "It's time to retire the car, per the policy - please write me a check." However, a funny-looking guy in the lobby looks at you and tells you you really shouldn't be asking for welfare. Besides, he continues, it's not fair. Your premiums have already been used to pay other drivers, and more drivers have been having accidents lately, so everyone's going to have to cut back on what they expect to get out of their insurance contracts. You should have been more careful, he continues. Maybe if you'd saved up some money, you could have paid for the damage to the car yourself rather than asking him for a handout.

Your agent calls the guy an idiot, and gives you the check because, you know, you have an insurance contract. Just like seniors do with Social Security.

Anyone who tries to convince you that Social Security is "welfare" or a "government handout" is either an idiot who doesn't understand the system, or is actively trying to discourage you from collecting your money. And you really should step back and ask them why they don't want you to have your money, and what they want to do with your money instead.

In the "marketplace" of political ideas, it's caveat emptor all the way. Especially if the seller is a Republican.