Allen W. Smith, Ph.D.

Allen W. Smith, Ph.D.

Allen W. Smith was a professor of economics at Eastern Illinois University for 30 years.

Social Security’s Day of Reckoning Has Come

The author says that the purpose of the 1983 payroll tax hike was to generate Social Security surpluses for the next 30 years, but instead of following that plan, the government spent the money out of the general fund, thus using up the revenues on other government programs.