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Keeping the poor poor is what drives big government.

Monday, April 10, 2017 21:33
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(Before It's News)

Is this ever true.

(From The American Spectator)

Social Security is the greatest swindle of the poor ever. A new study by Peter Ferrara for the Committee to Unleash Prosperity shows that the average poor person who works 40 hours a week during his or her working life would retire with a larger monthly benefit and would have $1 million or more in an estate that could be left to a spouse or children at death if they could simply put their payroll tax dollars into a personal 401k retirement account and tap into the power of compound interest.

Under Social Security poor (and middle class) households leave next to nothing for their kids at death. So Social Security robs nearly every low and middle income family with a full time worker of at least $1 million over their lifetime. What a deal!*

Occupational licensing laws — in trades like moving companies, realtors, hair dressers, limousine services, beauticians, physical therapy and on and on — ‎stunt small business start-ups, destroy jobs, and raise prices for lower income consumers. What about the right to make a living?

Big government advocates defend these statist occupational barriers to entry by arguing that they are needed to uphold professional service quality. Professor Boudreaux shows evidence that, to the contrary, licensing requirements reduce service quality by shrinking competition in the industry.

Click here for the article.

*Heck, toss out any 401K returns and just consider saving at an historically reasonable level of interest and one would likely be significantly better off.


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