A. Security is not an entitlement. In fact, it is not even guaranteed by U.S. government.
In 1937, in Helvering v. Davis, the Supreme Court ruled that Social Security is not a contributory insurance program. Instead, FICA taxes will be paid to the U.S. Treasury like any other revenue and will not be earmarked in any way. It is completely legal for our representatives to use FICA taxes in any manner they choose. When you think about it, doesn’t that make the FICA tax into a payroll tax and not a pension contribution? Doesn’t that make Social Security a welfare benefit?
In August, the Social Security and Medicare Trustees released their annual report. Here are some numbers from the report that you will find startling. 171 million Americans paid into the Social Security program in 2016, and there were 61 million people receiving benefits. That means there are fewer than three people paying for every one person who is receiving benefits. According to the U.S. Bureau of Labor Statistics, we will have between 80 and 100 million people receiving Social Security by 2030. That means we will near two taxpayers paying for every recipient of benefits. This is simply not sustainable.