Wednesday, March 6, 2019 | 2 a.m.
Thanks for publishing the Feb. 27 letter “US system is an artful blend.” The author explains that Social Security and Medicare are socialist concepts that are obviously part of our country.
Unfortunately, they are also illustrative of the problems with socialism. Socialism redistributes wealth, whereas capitalism creates wealth.
Social Security is set to exhaust its trust fund in 15 years and Medicare in seven years. In other words, government needs to seize more wealth from productive members of society to cover the shortfall.
But since the country is redistributing around a trillion dollars a year more than it is collecting, it’s likely we won’t have to even wait that long to see what happens.