The Constitutionalist Party believes that the government-funded institution of Social Security, while valuable to society, is both inefficient and in danger of crumbling. The problem of Social Security is one that just won't go away, and every fix presented to the program only winds up holding off what seems to be the inevitable collapse. Fortunately, several countries in South America and Europe have started privatized Social Security programs that are working much more efficiently than the public versions in place before. While those countries are not America, and it would be foolish to assert that privatization would work equally well here as it does there without actually trying it, the results are encouraging enough that it warrants a try in our country so that hopefully we may find a way to end the problems our country is having with keeping public Social Security going. Further, making such a system private would substantially reduce the amount of money spent by the federal government, which would result in lower taxes being possible. More information concerning the privatization of Social Security can be found here.

The Constitutionalist Party adamantly opposes the idea of Social Security funds being invested by the government. Any program which allows the government to purchase private assets is socialist in nature, as socialism is when the government owns and controls the means of production. Investment of Social Security funds into assets is crucial, but it must never be done by the government. It must be done by private individuals.

Americans must be given ownership of their retirement accounts. Nestor v. Fleming determined that citizens today do not have a right to Social Security benefits, and a system of personal retirement accounts owned by the individual will make sure that every person will be secure in their benefits. In addition, since these accounts would be owned like any other assets, they could be passed on as part of an inheritence to future generations. The CP supports legislation that would allow inheritors of retirement account assets to bypass the inheritance tax providing that the assets are immediately deposited into their own retirement account.

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