Last updated on: 5/22/2017 | Author:

Daniel J. Mitchell, PhD Biography

Senior Fellow at the Cato Institute
Pro to the question "Should Social Security Be Privatized?"

“[Privatization of social security allows] younger workers [to] forgo the miserly benefits promised by government-run retirement schemes in exchange for the chance to invest a portion of their taxes privately. This saves the government money in the long run while allowing workers to amass greater retirement wealth…

The transition costs of personal accounts are actually lower than the transition costs of trying to bail out social security. In other words, we’re in a deep hole right now but it’s easier to get out of the hole if we implement real reform rather than waiting for the system to collapse…

Personal retirement accounts mean individual responsibility; they mean the opportunity to pass wealth from one generation to the next; individual accounts mean more economic vitality; they mean saving our children and grandchildren from a future of debt; and they mean we can be free of depending on the crooks and buffoons in Washington for our retirement.”

“The Personal and National Case for Genuine Social Security Reform,”, Dec. 22, 2015

Involvement and Affiliations:
  • Senior Fellow, Cato Institute, 2007-present
  • Co-founder, The Center for Freedom and Prosperity, 2000-present
  • Senior Fellow, The Heritage Foundation, 1990-2006
  • Former Economist for Senator Bob Packwood and the Senate Finance Committee
  • Member, President George H.W. Bush’s Transition Team, 1988
  • Former Director of Tax and Budget Policy, Citizens for a Sound Economy
  • PhD, Economics, George Mason University
  • MA, Economics, University of Georgia, 1985
  • AB, Economics, University of Georgia, 1981
  • Twitter handle: @danieljmitchell
  • Hobbies include softball, basketball, and skiing
Quoted in:
Pro & Con Quotes: Should Social Security Be Privatized?