The Bottom Line

Social Security is not sustainable without reform. Simply put, it cannot pay promised future benefits with current levels of taxation. Yet raising taxes or cutting benefits will only make a bad deal worse. However, allowing younger workers to privately invest their Social Security taxes through individual accounts will improve Social Security’s rate of return; provide better retirement benefits; treat women, minorities, and low-income workers more fairly; and give workers real ownership and control of their retirement funds.

Cato Studies

Commentary

Of Special Note

Realizing Freedom: Libertarian Theory, History, and Practice

Realizing Freedom: Libertarian Theory, History, and Practice

What is freedom? How is freedom related to justice, law, property, peace, and prosperity? Tom Palmer has spent a lifetime-as a scholar, teacher, journalist, and activist-asking and answering these questions. This expanded paperback edition of the widely acclaimed Realizing Freedom adds even greater depth and dimension to the book, with newly added essays that confirm Palmer’s role as one of liberty’s most articulate advocates. The essays in this volume are drawn from his decades of work on the theory of justice, democracy and limited government, and globalization, among many other topics.

Special! 10 Copies for $10

Cato Pocket Constitution

To encourage people everywhere to better understand and appreciate the principles of government that are set forth in America’s founding documents, the Cato Institute published this pocket-size edition.

2014 Milton Friedman Prize

Attend the 2014 Milton Friedman Prize Biennial Dinner

The Milton Friedman Prize for Advancing Liberty, named in honor of perhaps the greatest champion of liberty in the 20th century, is presented every other year to an individual who has made a significant contribution to advance human freedom. The prize, a cash award of $250,000, will be presented at the Milton Friedman Prize for Advancing Liberty’s Biennial Dinner on May 21, 2014, in New York City at the Waldorf-Astoria Hotel.