During his speech to supporters at the Iowa Straw Vote event on August 11, GOP presidential candidate Ron Paul called for allowing young Americans a choice to leave the Social Security system.

Follow this link to the original source: "Ron Paul's Speech at Iowa Straw Poll Aug 11th (part 1)*"

It doesn't take a mathematical genius to know that private investment of the money forcibly taken from wage earners for Social Security would reap a far greater return than will ever be paid by Social Security. Younger Americans should jump at any chance to leave the currently compulsory program. But only Congressman Paul presents such a choice.

The Social Security program has no real assets because, for many years, the money it takes in has been confiscated and spent by the federal government for other programs. As the population ages, SS's rapidly escalating disbursements are being paid from the government's income derived from a variety of sources, including income tax and Social Security taxes. And the number of those paying into the program is shrinking while the number receiving benefits is rising. Social Security is a Ponzi scheme that would surely be declared illegal if the government itself were not conducting it.

The obvious question, should younger Americans be freed of participating in Social Security, is: How could the government continue to send monthly checks to the millions already receiving benefits? Congressman Paul answers: Abolish unnecessary and unconstitutional federal programs and agencies. Just for starters, he lists foreign aid, the Departments of Education and Energy, and undeclared wars that have U.S. forces policing the world. He also would terminate federal funding for organizations conducting and promoting abortion.

Paul's idea regarding Social Security should greatly appeal to anyone forty years old or younger. Leaving the funds forcibly taken from them in their hands would enable those who have good sense with a grand opportunity. Realizing that their retirement is in their own hands instead being wards of the state, they can start their own personal investment program that will return ten to twenty times — maybe even more — than what Social Security will provide. And the money they will be saving and putting to work in private programs will fuel the free enterprise system. The entire nation will benefit.

The Texas congressman does not call for terminating the Social Security system. But if younger Americans are given the opportunity to stay out of it, the program will fade out of existence in a mere few decades.

This is the American way. Congressman Paul should be congratulated for his suggestion. It is obvious that the program should never have been started in the first place.