ABSTRACT
Popular thinking is still dominated by the false consciousness, which is spawning new myths, for example, "robbing the trust fund." Social Security is insurance. Benefits are an earned right. Taxpayers are building up vested rights to benefits. Benefits are bought and paid for by one's "contributions." Benefit payments are made out of a trust fund built up from contributions workers paid in while they were working. Social Security is in trouble because Congress is robbing this trust fund. Social Security is a compact/contract between generations, or between Americans and their government. Social Security is a defined-benefit pension plan. Minor tax increases and/or benefit cuts will suffice. Social Security has also shown that entitlements, being zero-sum transfers, are extremely divisive. The modest proposal is that those who truly need their benefits to stay out of poverty will get them, and that those who can get along without their benefits will lose all or most of them.
