Florida State Director John Hallman debates Social Security Reform in Ft. Lauderdale

Florida State Director was invited by the Tower Forum Organization to debate Social Security Reform on March 3, 2005 at the Regions Bank Building
in downtown Ft. Lauderdale. The Tower Forum Club
is a non-profit organization whose members are business
people, educators and non-profit executives. John’s opponent was a local financial planner who opposes Personal Retirement Accounts.

John’s presentation focused on the impending solvency problem as well as the opportunity for low income and minorities to have a chance at wealth creation and an estate they can pass onto their family. John’s opponent admitted that Social Security would eventually be in trouble and that all we needed to do was raise the cap on taxable income. John pointed out that raising the cap would be a large tax increase on upper middle income Americans and would damage the economy.

The highlight of the debate was when John’s opponent commented that the 18th century economic philosopher Adam Smith supported a progressive tax system as the main function of capitalism. John quipped “with all due respect to my opponent, I believe he has Adam Smith confused with Karl Marx”, with that the audience cheered. After the debate, many came up to thank John for his insightful and informative presentation. John commented that “I am pleased that opponents of Personal Retirement Accounts are now admitting that Social Security is in trouble, this means we can take the debate to next level”.