samcol

As opposed to government? I would say government is just as incapable at self policing if not more so than private companies. Government has had a comparable amount of scandals as well. At least with private companies you have the choice to not do business with them, unless they have a monopoly which is usually protected through public policy anyhow. With government you have to go through all the burecratic steps to get it to change gears.

I'll use social security as an example. It was sold to us as a retirement benefit plan. Instead we got a tax and welfare program that goes into the general fund whenver it draws a surplus. Basically it's a gigantic ponzi scheme. Obviously in the 70 years or whatever it's been in existence it has had terrible "self policing."

Likewise private and public companies have had a long history of promising benefits that were never received and of robbing pension plans. Really what's the difference between a company that robs from it's employess or a nation wide program that robs from it's citizens. I'd say the federal plan is worse just because it's on a massive scale and to the tune of $1,880,613,454,166 in the case of social security.

The solution? No pension plans or social security (or use both at your own choice while utilizing government only to enforce contracts between itself and citizens or citizens and employers). Let people keep all of their paycheck to save or spend how they want to.

As much as you may dislike private companies, government programs are just as corrupt if not more so.