Explanation of Social Security

One colleague mentioned how bad Taiwan and Hong Kong's economies are
compared to Malaysia because of social security. These nations are
heavily in debt because of social security, and will collapse at any
time. These are nations that had produced companies like Acer and huge
trading houses in Hong Kong. Malaysia is nothing compared to them,
even in debt burden.

The automobile technology of Malaysia is nothing compared to Korea
that has social security. Malaysians have been paying heavy taxes in
cars trying to protect the automobile industry but to no avail, stuck
with mediocre cars and road infrastructure to show for all the huge
amount of taxes burdened by the Malaysian government, at more than
double the real cost of cars. That translates to a huge income tax on
Malaysian citizens.

This article is in response to Romney's comments about 47% of citizens
who don't pay any taxes now in USA. These are short sighted facts and
quoted by opponents of Social Security in Malaysia and even the
extreme capitalists in USA.

Social security has never been free. You have to pay for it out of
your own pocket but only when times are good. Isn't it some form of
insurance? But unlike the corrupted life insurances, you only need to
pay when you are well off, or those who have become well as a result
of support when they are just beginning their businesses. Once they
have become well established, they should contribute more. However if
they fail, they have a parachute for support.

This is all about the argument about survival of the fittest used by
the animal kingdom but aspired by stupid humans, against the
compassionate competition used by humanity. The result is very clear
for all to see. The compassionate humans managed to wipe out all the
survival of the fittest animals. For the same reason, any humans who
want to follow the animal way will go the animal way., i.e.
extinction. In fact the whole human civiliation started with
compassion, without which, humans will be no different from animals.


http://www.latimes.com/business/la-fi-hiltzik-20120919,0,2408537.column