William G. Horter – 2/8/05

This page was last updated on February 8, 2005.

Heed history; William G. Horter; Beaver County Times; February 8, 2005.

Below is a detailed critique of the subject letter.

“As U.S. Rep. Melissa Hart is probably aware, in 1929 the private economy sector virtually collapsed leaving this country in very dire straits.”

[RWC] Mr. Horter makes it sound like there is a “private economy sector” and a public economy sector. There is only one economy and it’s based on the private sector because the public sector has no wealth. Only we individuals possess wealth.

“Social Security was created outside of the economy just because of that fact. I see no reason why, after that lesson, anyone would suggest going back to the very source of the problem for a solution.”

[RWC] Socialist Security was not “created outside of the economy.” The fruits of the economy – taxes on hard-earned wages – feed this monster.

I don’t understand the last sentence. Other than providing fertile ground for fear mongering to pass a socialist program, what did the market crash of 1929 have to do with SS?

“I think there are other ways of addressing this problem other than changing the basic strategy of Social Security, and that is as a last resort. For one, how would waving the income limit on the payroll tax affect all of this?”

[RWC] For someone who wants us to pay attention to history, Mr. Horter himself tends to ignore it. Since SS’s inception, the tax rate has increased often to 6.2 times its original level (12.4% vs. 2%) and the income limit has increased to 30 times its original level ($90,000 vs. $3,000). The income limit increases every year by law. It should be clear by now the problem isn’t tax rates or the maximum amount of taxed earnings. SS is a Ponzi scheme.

“I am sure Hart has heard the old maxim, ‘He who forgets history, is doomed to repeat it.’ This is where I think this new proposal of the president fails the test. I am opposed to any basic change in the way Social Security is funded or implemented.”

[RWC] I believe the correct quote is “Those who cannot remember the past are condemned to repeat it.” It’s attributed to George Santayana, a 19^th/20^th century U.S. philosopher.

Here’s a quote that’s more relevant to the letter’s last sentence. Benjamin Franklin – among others – is credited with saying, “The definition of insanity is doing the same thing over and over and expecting different results.” Mr. Horter opposes “any basic change in the way Social Security is funded or implemented,” yet he expects a different result.