Libertarian Jackass

"Life is short, but truth works far and lives long; let us speak truth." -- Schopenhauer

Saturday, October 18, 2003

Scam Exposed: The Payroll Tax

Statists of all stripes ultimately defend taxation based on the supposed benefits government provides in the form of public goods (national defense, security, clean air, apple pie, motherhood, etc.). But, as Gregory Bresiger writes on, "according to Boston University economist Laurence J. Kotlitoff, 18-year old workers who earn average incomes over their lifetimes will 'contribute' $723,591 in taxes (in present value dollars). They will receive about $140,000 in benefits! What private sector retirement program has an egregious record such as that? And even when it does, one can always withdraw from it or transfer to another program. Try withdrawing from Social Security and see what happens!"

And to think people flip out when I refer to taxation as theft, robbery and expropriation! Imagine a gang or Mafia forming a "retirement fund," collecting (by force if necessary) portions of paychecks from thousands of individuals and businesses within its territorial monopoly, using the proceeds to fund other activities (gang warfare, drug running, vacations) and then later claiming that the "retirement fund" system needs reform (more money!) in order to provide benefits to the aging population! This system would easily be exposed as fraudulent. However, when the criminal members of the State operate this scam, they merely blame a "previous Administration" or the {insert your most hated political party here} for the Social Security program's bankruptcy and the fraud continues! Give me the Mafia over the government anytime!

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