Famous quote by Neal Boortz

"The main purpose of Social Security is to redistribute wealth, to make an increasingly large number of Americans dependent on government for their basic needs in their retirement years"

About this Quote

Neal Boortz's quote addresses the function and implications of the Social Security system in the United States. His perspective suggests that the primary objective of Social Security transcends its obvious role as a safeguard for retired individuals. Boortz analyzes it as a system for wealth redistribution focused on making a greater number of Americans reliant on government support throughout retirement.

To unload this analysis, it's essential to comprehend the intrinsic structure and objectives of Social Security. Developed throughout the Great Depression under President Franklin D. Roosevelt's New Deal, the Social Security Act was created to offer monetary support to the senior, the unemployed, and disadvantaged Americans. Moneyed through payroll taxes, Social Security pools resources from the working population to support retirees, who get regular monthly advantages based upon their life time incomes records.

In Boortz's view, this procedure successfully redistributes wealth from current earners to retired people. He seems to indicate that this redistribution might cultivate a reliance on government help among American residents. The underlying issue might be that when individuals rely greatly on Social Security for their retirement income, they may have less reward to take part in personal savings or personal financial investment, possibly reducing their monetary independence.

Boortz's critique touches on wider political and economic debates regarding the function of federal government in individuals' lives. Critics who share Boortz's viewpoint may argue that extreme reliance on government programs can result in diminished specific duty and lowered motivation to self-provide for future requirements. On the other hand, advocates of Social Security emphasize its need for guaranteeing a standard of security and self-respect for the elderly, especially in cases where personal cost savings may be insufficient due to low-wage employment or financial declines.

The quote invites reflection on the balance between social welfare and personal responsibility, questioning just how much individuals need to depend on federal government help versus personal cost savings and investment for their retirement years.

More details

TagsSecurity

About the Author

USA Flag This quote is from Neal Boortz somewhere between April 6, 1945 and today. He/she was a famous Journalist from USA. The author also have 12 other quotes.
See more from Neal Boortz

Similar Quotes

Shortlist

No items yet. Click "Add" on a Quote.