Social Security Legally Is Just a Government Welfare Program

more+
less-

It all comes down to political risk versus market risk. Social security legally is merely a government welfare program masquerading as a quasi-private funded defined benefit pension plan. Social security bestows no legally protectable property rights on its participants. Hence the constitutional right of Congress to retroactively increase from time to time the Social Security retirement age and to means test. Moreover, the "bonds" in the phantom social security trust fund are bonds in name only. This is confirmed by a careful reading of the Social Security enabling statute, as well as two U.S. Supreme Court cases.

LOADING PDF: If there are any problems, click here to download the file.

Written by:

Published In:

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Charles E. Rounds, Jr., Suffolk University Law School | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »

CONNECT

Charles E. Rounds, Jr.
Suffolk University Law School

Professor of Law, Suffolk University Law School. Tenure granted: 1990. Author: Loring and... View Profile »


Follow Suffolk University Law School:

Reporters on Deadline

All the intelligence you need, in one easy email:

Great! Your first step to building an email digest of JD Supra authors and topics. Log in with LinkedIn so we can start sending your digest...

Sign up for your custom alerts now, using LinkedIn ›

* With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name.
×
Loading...
×