Social Security

Ach! Every time I see this term, I don’t know whether to laugh or to cry. When I switched to a new job earlier this year, I had already paid in full this year’s social security taxes. But my paychecks from the new job still have social security taxes deducted, and I’ll have to go through the pain of claiming it back when I file my 2004 tax return.

Thomas Sowell, one of my favorite commentators, writes about why leftists are against privatization of social security. In a few words: they want control of your money. They don’t care if they break promises (the concept of a contract means nothing to them as long as they hold the power of coercion); they’ll just tax, tax, tax.