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The Injustice of Social Security: A Call to End Compulsory Schemes

Imagine being forced to hand over a portion of your hard-earned income each year, only to be denied access to it when you need it most. This is the reality of the Social Security system – a scheme that locks individuals in, disregarding their needs and desires. The government dictates how much to save for retirement, leaving many in dire situations. From health concerns like AIDS to discrepancies in longevity based on race and lifestyle, the system favors some while penalizing others.

1. The Personal Toll: Smokers and disadvantaged groups are dealt an unfair hand by Social Security. Life expectancy variations and health issues leave many without adequate support. A system that refuses to adapt to individual circumstances is inherently flawed.

2. Undermining Freedom: Compulsory retirement plans limit personal autonomy. People need the freedom to decide on their savings strategy, be it through stocks, bonds, or property investments. Tailoring retirement plans to individual preferences is key to ensuring financial security.

3. The Abolition Route: The deceptive nature of Social Security calls for a radical shift. Privatization offers a solution by empowering individuals to make informed investment decisions. Gradually phasing out the system allows for a seamless transition, benefiting current and future generations.

4. The Tax Predicament: Proposals to increase taxes or implement affluence tests miss the mark. Punishing savers and imposing financial restrictions hinders economic growth. Creating a path to financial independence through privatization is the way forward.

In Conclusion, Social Security’s shortcomings require urgent attention. A system built on coercion and arbitrary rules cannot provide genuine security. Empowering individuals to shape their financial futures will lead to a more equitable and prosperous society. It’s time to abolish compulsory schemes and embrace a future of freedom and choice in retirement planning.