On 7 August 2001, Harry Browne addressed several myths of Social Security, and proposed a solution:
"Shut Social Security down – completely, immediately and for good. End the Social Security tax tomorrow morning and stop making Social Security payments tomorrow evening. Anyone under 50 can have a better retirement putting 10 percent of his income in the bank instead of 15 percent into Social Security.
"And what happens to those who are currently dependent on Social Security and those too close to retirement to build a new nest egg?
"Have the government make a one-time purchase of private annuities – secure, non-political annuities that guarantee the same income Social Security is paying now to senior citizens...
"This approach doesn't appeal to politicians, because it takes tax money and power away from them. But the only alternative to it is to resign yourself to having more and more of your income taken from you and poured down the drain."
WorldNetDaily: Final fix for Social Security
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