Ted Halsted and Michael Lind have outlined in their book an extensive plan for social security reform. They start by explaining the current system and pointing out its pitfalls, and then go on to provide an exact model for a system of their own. Whilst those on both the left and the right of the American political spectrum will disagree with points of their ideas, it is a well rounded, moderate approach to a controversial issue. This is even more astounding in that the authors are proposing a radical redefinition of what in politics has often been considered the third rail, referring to the electrified third rail in many subway systems, "touch it and you're dead." Recent political developments have shown that this rail might not be quite so deadly to the touch anymore, which makes such a redesign possible.
According to "The Radical Center", the current social security system is a universal provider model that is a disincentive for personal savings.
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Government spending in the United States for FY 20...The system does protect against destitution, but a growing problem will soon bankrupt the service. America is getting older, most people in the country realize this; this inversion of the population is making it harder and harder to provide caregiving to the eldest of our citizens. Resources available to our populace are scarce, and the current model puts the young and old in direct competition for them; this problem of competition is further compounded by the spatial and geographic separation of the generations. The elderly, who are the ones receiving the benefit of this service, are demanding support from a workforce with which they have no contact, and feel no connection to; those of working-age however are outraged against providing for a people to whom they also feel no connection. If current trends continue, the social security...