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→The payroll tax: Not insurance.
In his brief for the case [[Flemming v. Nestor]], Arthur Sherwood Flemming argued that:
In his brief for the case [[Flemming v. Nestor]], Arthur Sherwood Flemming argued that:
<blockquote>The old-age monthly benefits program which title II of the Social Security Act establishes is not a federally administered 'insurance' program. The contribution exacted under the social security plan is a true tax. It is not comparable to a premium promising payment of an annuity commencing at a designated age.<ref>[https://books.google.com/books?id=-GwWAAAAIAAJ&pg=PA2229 Health Services for the Aged Under the Social Security Insurance System], House Ways and Means Committee, U.S. Congress, page 2229, 1961</ref></blockquote>
<blockquote>The old-age monthly benefits program which title II of the Social Security Act establishes is not a federally administered 'insurance' program. The contribution exacted under the social security plan is a true tax. It is not comparable to a premium promising payment of an annuity commencing at a designated age.<ref>[https://books.google.com/books?id=-GwWAAAAIAAJ&pg=PA2229 Health Services for the Aged Under the Social Security Insurance System], House Ways and Means Committee, U.S. Congress, page 2229, 1961</ref></blockquote>
Additionally, the brief said:
<blockquote>The OASI program is in no sense a federally-administered 'insurance program' under which each worker pays 'premiums' over the years and acquires at retirement an indefeasible right to receive for life a fixed monthly benefit, irrespective of the conditions which Congress has chosen to impose from time to time.<ref>[https://books.google.com/books?id=gq9qAAAAMAAJ&pg=RA1-PA35 Population trends, social and economic implications],United States. National Advisory Committee for the White House Conference on Aging, 1960</ref></blockquote>
Rep. [[Paul Ryan]], Chairman of the House Budget Committee in the 112th Congress, proposed in his ''Roadmap for America's Future'' a choice for all workers to be allowed to invest 2 percent of their first $10,000 of annual payroll tax into personal accounts. Workers would be allowed to select from a list of managed investment funds, approved by the government for soundness and safety, like those in the federal government's Thrift Savings Plan.
Rep. [[Paul Ryan]], Chairman of the House Budget Committee in the 112th Congress, proposed in his ''Roadmap for America's Future'' a choice for all workers to be allowed to invest 2 percent of their first $10,000 of annual payroll tax into personal accounts. Workers would be allowed to select from a list of managed investment funds, approved by the government for soundness and safety, like those in the federal government's Thrift Savings Plan.