When I want a retirement plan that costs me 12% of my compensation for almost 0 return, I choose Social Security. :)
Laissez-faire economists and politicians have been calling Social Security a sham since it was a glimmer in FDRs eye. In 1936 GOP presidential candidate Alf Landon called the Social Security Trust Fund a cruel hoax.
And hows this for wingnutty? In a 1999 New York Times article calling for the privatization of Social Security, the Nobel laureate economist Milton Friedman wrote that the guaranteed benefits of the entitlement program exist solely on the expectation that future Congresses will honor promises made by earlier Congresses what supporters call a compact between the generations and opponents call a Ponzi scheme.