Michael Tanner explains the current Social Security structure of "pay-as-you-go"

Posted by Staff on February 22, 2005 |

Tanner, Director of the Cato Institute’s Project on Social Security Choice, says the "pay-as-you-go" structure is central to Social Security reform. He states that when you pay Social Security taxes, none of that money is put away for your retirement. Instead, the money is used to pay benefits to those already retired. (:52)

 
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February 22, 2005
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