The Concord Coalition, funded in part by Wall Street brokerage companies, is carrying this anti-entitlement message to the masses. In a couple of minutes I'll respond to some of the false myths about Social Security that are being spread to generate anxiety and to create the climate for the divide and conquer tactics of intergenerational distrust. But, before I demystify the opposition to Social Security, it may help us to remember why Social Security is so precious. The values at stake are the values of social insurance versus the values of private investment.
Social insurance protects everyone against one or another disaster.
Private investment is a strategy for those with so much disposable income that they think they can protect themselves. When you're thinking first about protecting yourself, it is pretty easy to oppose social insurance that protects everybody. It isn't surprising that the attack on Social Security comes from those who are already so well off that they think they do not need the Social Security protections against poverty. The fact that a lot of people are not as protected as they think they are may not make much difference because a lot of people do not like to be reminded of their vulnerabilities. When you add those who are short-sighted to those who are truly wealthy past any threat of economic disaster and to those who don't think they will live very long anyway and to those who hate government and to those who hate any appeals to community solidarity or to caring for those in need there are enough people to rend the fabric of civilization, to shred the mutual trust and cooperation that has created a strong society in the United States.