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Galveston County: A Model for Social Security Reform

09/15/2011 9:47:10 AM PDT · by shield · 17 replies
NCPA ^ | April 26th, 2005 | Ray Holbrook and Alcestis “Cooky” Oberg

The current debate over Social Security reform is reminiscent of the discussions that occurred in Galveston County, Texas, in 1980, when county workers were offered a retirement alternative to Social Security: At the time they reacted with keen interest and some knee-jerk fear of the unknown. But after 24 years, folks here can say unequivocally that when Galveston County pulled out of the Social Security system in 1981, we were on the road to providing our workers with a better deal than Franklin Roosevelt's New Deal. The Problem with Social Security. Social Security is a pay-as-you-go system under which taxes...

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