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A Capitalist Way to Fix Social Security

Democrats say Social Security is untouchable and have roped Republicans into saying the same. They also constantly lament the gap between returns to capital and labor. Stock buybacks and even dividends have come under fire, with Senate Majority Leader Chuck Schumer saying that buybacks—already subject to a new surtax—should be banned. Democrats’ dogged attachment to government-run investing undermines the goal of helping workers save for retirement. And fixing Social Security could help solve the capital-labor returns problem.

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