Social Security's Sham Guarantee by Michael D. Tanner May 29, 2005 Michael Tanner is director of the Cato Institute's Project on Social Security Choice. How many times during the recent debate over Social Security reform have you heard someone refer to Social Security's "guaranteed benefit"? The AARP says "Social Security is the guaranteed part of your retirement plan." Nancy Pelosi, the Democratic leader in the House, touts the system's "guaranteed retirement benefit." The liberal activist group ProtectYourCheck.org, headed by former Clinton chief of staff Harold Ickes, is running ads calling Social Security "a guarantee you earned." But Social Security benefits...