Wrights believes social security, Medicare, and Medicaid should be eliminated, but that those who are eligible to collect it now should not be deprived what they were already promised:
“Of course it is dangerous and not “politically correct” to suggest cutting spending on programs like Social Security and Medicare. Anyone who even hints at making any changes to these “sacred cows” is quickly vilified as someone who hates the elderly. That’s typical political demagoguery used by politicians without integrity or intellectual honesty.
“The truth is politicians have lied to seniors for decades, and are still lying to them. The truth is that Social Security and Medicare are Ponzi schemes perpetuated for decades by politicians. They are classic examples of the way politicians bribe one group of people using money taken from another group of people to buy votes.
“These programs are unsustainable because they can only be supported by taking more and more money from more and more people. That means taking money from the children, grandchildren and great-grandchildren of the very people who paid into the programs in the first place. Taxing our grandchildren and great-grandchildren to pay for our retirement is not only immoral, it’s economically destructive.
“This doesn’t mean that the federal government should renege on the promises made to people who have paid into federal benefit programs. Libertarians recognize these entitlements as actual contractual obligations which must be honored. The federal government has the assets to make good on the promises made to seniors.”– R. Lee Wrights, press release.