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# What Social Security was made for
- URL: https://www.smdp.com/what-social-security-was-made-for-editor/
- Published: 2008-08-19T15:00:00.000Z
- Updated: 2026-10-24T20:44:32.000Z
- Author: Guest Author
- Tags: Opinion, Santa Monica, #archive-import

*By Alan Pinho Santa Monica*

I read through \[Alex\] Epstein’s article “Social Security is morally bankrupt,” page 4, Aug. 15\. When I got to the bottom of the article I find Mr. Epstein “is an analyst at Ayn Rand Institute, focusing on business issues.”

It’s clear to me the last thing Mr. Epstein is concerned about is the person paying into the system. If an individual no longer pays into the system, neither does the business. Seems to me, the business makes more money.

In my opinion, the employee contribution is likely to be spent at the market, gas station or something along those lines, not saved for retirement. Ask yourself what you would do with it. Does the Social Security system have issues to deal with? Of course. It’s far from perfect.

Here are some simple facts right from the Social Security Web site, based on 2005 data.

“The average monthly payment … in December 2004 was $428\. Those under 18 received the highest average payment at $506, those 18-64 received an average payment of $447, and beneficiaries aged 65 and older had the lowest average payment at $352.”

Social Security “is designed to help aged and disabled people. Social Security was never intended to be the sole source of income.” Social Security recommends “a three legged stool of Social Security, pensions and savings. Benefits are expected to be payable on a timely basis until 2041.” As the system stands now, “if nothing is done, a person 101 years old in 2082 would have the benefit cut by 25 percent. In 01-1940, Ida May Fuller was the first to receive a monthly check. It was for $22.54.”

Social Security was never intended to “provide financial security” or anything else Mr. Epstein is shouting from the rooftop. There is no shortage of information on the Social Security Web site, read it yourself and draw your own conclusions.

*Originally published in the Santa Monica Daily Press print edition on August 19, 2008.* [Read the original PDF.](https://s3.us-east-1.amazonaws.com/smdp%5Fbackissues/081908.pdf?ref=smdp.com)