Since 1979 when the Cato Institute published his seminal Social Security: The Inherent Contradiction, Peter J. Ferrara has become recognized as one of the leading authorities on social security. This book, edited by Ferrara, represents a comprehensive analysis of the continuing problems of the social security system. It is required reading for anyone concerned with social security, the single largest item on the domestic budget.
Ferrara has contributed two original chapters to this volume — including an in‐depth presentation of his much‐discussed proposal for Super IRAs — and brought together a truly distinguished group of contributors. The list includes former SSA chief actuary A. Haeworth Robertson, Heritage Foundation domestic policy director Stuart Butler, former Treasury Department officials Norman Ture and Paul Craig Roberts, and David Ransom of H.C. Wainwright Co.
Social Security: Prospects for Real Reform details the problems with the Greenspan Commission’s reforms, points to disturbing generational trends, and offers a realistic plan for improving America’s retirement security.
In this comprehensive examination of America’s social security system, economist‐lawyer Peter J. Ferrara offers a thorough and solid brief against maintaining the present system.
He presents conclusive evidence that social security has been sold to the American people by deceit and misrepresentation and that the social security system’s financial troubles, far from being ameliorated by recent tax increases, are getting worse by the day because of the demographics of population growth. He analyzes, and finds wanting, the rationales for the system made by some of America’s leading economists and social security officials.
But this book is not all negatives. After laying a careful groundwork of statistical fact that indicts social security — most of it gathered from the Social Security Administration itself — Ferrara explores the more important philosophical questions that a social security apparatus necessarily raises for a free society and then confronts the ultimate question: Should there be a social security system in America’s future?
You may not agree with all that you find between these pages, but this work will be an invaluable reference source for anyone interested in the continuing problems of one of this country’s most ambitious and expensive social programs. No other single source gathers together so much material on benefits, law, economics, and political theory, all in one volume at the reader’s fingertips. This book will become an integral part of the ongoing debate on the future of the social security system.