Social security we know from developed countries' experiences faces irresistible demographic and fiscal pressures that threaten the economy of the country. Social Welfare taxes directly interferes the individual liberty. State sponsored welfare approaches have serious flaws and tend to fail.
We encourage people to invest privately through private accounts. The current development agencies lobbying in favor of creation of social safety nets should be discouraged. Investment on welfare is a matter of private decision not the mandatory public choice which curtails individual liberty. The private investment:
Provides workers with higher benefits than Social Security would otherwise would be able to pay; Create a system that treats old age, women, minorities, and young people more fairly;
Allow low-income workers to accumulate real, inheritable wealth for the first time in their lives; and Give workers ownership of and control over their retirement funds.
The government is the backbone of welfare reform. What would happen to the poor if welfare were eliminated? First, without the incentives of the welfare state, fewer people would be poor.
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