View Poll Results: Is Social Security a Ponzi Scheme?

Voters
96. You may not vote on this poll
  • Yes - absolutely

    41 42.71%
  • Yes - it's more-or-less the same as

    35 36.46%
  • No - but it's pretty close

    5 5.21%
  • No - not even close

    24 25.00%
  • Social Security is safe and secure, please stop scaring people.

    14 14.58%
  • This is a crummy question with no relevance.

    1 1.04%
Multiple Choice Poll.
Page 2 of 17 FirstFirst 123412 ... LastLast
Results 11 to 20 of 164

Thread: Is Social Security a Ponzi Scheme?

  1. #11
    Guru
    deltabtry's Avatar
    Join Date
    Jan 2010
    Location
    MA.
    Last Seen
    11-26-16 @ 03:07 PM
    Gender
    Lean
    Very Conservative
    Posts
    4,021

    Re: Is Social Security a Ponzi Scheme?

    I voted NO, it not a ponzi scheme, but it operates like one. I think the question was framed incorrectly non the less when a benefit is started and those who immediately benefit without contributing, then any program is doomed to fail.

  2. #12
    Global Moderator
    Moderator

    Join Date
    Aug 2011
    Last Seen
    @
    Gender
    Lean
    Independent
    Posts
    36,884

    Re: Is Social Security a Ponzi Scheme?

    Quote Originally Posted by Pinkie View Post
    I'm not sure what you mean by "the first time"; and BTW, Medicare is an even greater beast. No way can we support 50, 60 million 80 to 90 year olds in nursing homes.
    If SS can survive the Boomers, it can survive.

  3. #13
    Cheese
    Aunt Spiker's Avatar
    Join Date
    Oct 2009
    Location
    Sasnakra
    Last Seen
    09-10-16 @ 06:10 AM
    Gender
    Lean
    Moderate
    Posts
    28,433

    Re: Is Social Security a Ponzi Scheme?

    Quote Originally Posted by nota bene View Post
    If SS can survive the Boomers, it can survive.
    We've yet to see this through yet. . . so we don't know.
    A screaming comes across the sky.
    It has happened before, but there is nothing to compare it to now.
    Pynchon - Gravity's Rainbow

  4. #14
    Guru
    deltabtry's Avatar
    Join Date
    Jan 2010
    Location
    MA.
    Last Seen
    11-26-16 @ 03:07 PM
    Gender
    Lean
    Very Conservative
    Posts
    4,021

    Re: Is Social Security a Ponzi Scheme?

    The contract and obligations have already been met by the boomers, this must be guaranteed. Those that need to be weened off of SS are the yougnsters of today who have yet to enter the work force.

  5. #15
    Liberal Fascist For Life!


    Redress's Avatar
    Join Date
    Mar 2008
    Location
    Georgia
    Last Seen
    Today @ 11:30 AM
    Lean
    Very Liberal
    Posts
    93,290
    Blog Entries
    2

    Re: Is Social Security a Ponzi Scheme?

    PolitiFact Texas | Rick Perry says Social Security is a Ponzi scheme

    "First, in the case of Social Security, no one is being misled," Zuckoff's January 2009 article in Fortune magazine says. "...Social Security is exactly what it claims to be: A mandatory transfer payment system under which current workers are taxed on their incomes to pay benefits, with no promises of huge returns."

    Second, he writes, "A Ponzi scheme is unsustainable because the number of potential investors is eventually exhausted. That's when the last people to participate are out of luck; the music stops and there's nowhere to sit. It's true that Social Security faces a huge burden and a significant, long-term financing problem in light of retiring Baby Boomers...But Social Security can be, and has been, tweaked and modified to reflect changes in the size of the taxpaying workforce and the number of beneficiaries. It would take great political will, but the government could change benefit formulas or take other steps, like increasing taxes, to keep the system from failing."

    Third, his article says, "Social Security is morally the polar opposite of a Ponzi scheme... At the height of the Great Depression, our society (see "Social") resolved to create a safety net (see "Security") in the form of a social insurance policy that would pay modest benefits to retirees, the disabled and the survivors of deceased workers.By design, that means a certain amount of wealth transfer, with richer workers subsidizing poorer ones.That might rankle, but it's not fraud... None of this is to suggest that Social Security is a perfect system or that there aren't sizeable problems facing the incoming administration and Congress. But it's not a Ponzi scheme. And Ponzi himself, who died in a hospital charity ward with only enough money for his burial, would never have recognized it as his own."
    By definition, SS is not a ponzi scheme.
    We became a great nation not because we are a nation of cynics. We became a great nation because we are a nation of believers - Lindsey Graham

    Quote Originally Posted by Fiddytree View Post
    Uh oh Megyn...your vagina witchcraft is about ready to be exposed.

  6. #16
    Guru
    deltabtry's Avatar
    Join Date
    Jan 2010
    Location
    MA.
    Last Seen
    11-26-16 @ 03:07 PM
    Gender
    Lean
    Very Conservative
    Posts
    4,021

    Re: Is Social Security a Ponzi Scheme?

    Quote Originally Posted by Redress View Post
    I'll guess that we all knew exactly what Perry meant by saying this, he just phrased it is such a way to get his point across and I betcha we all know this to.

  7. #17
    Count Smackula
    rathi's Avatar
    Join Date
    Oct 2006
    Location
    California
    Last Seen
    10-31-15 @ 10:29 PM
    Gender
    Lean
    Independent
    Posts
    7,890

    Re: Is Social Security a Ponzi Scheme?

    SS is really just a social program funded by taxes. You don't get out what you put in. You pay for the elderly while you are employed, and get paid by the next generation of workers when you retire. The problem is that demographic changes mean that the next generation of workers won't make enough to support boomers when they retire. Ponzi schemes are fraudulent because they are billed as normal investment setups. Social Security isn't fraudulent, so the definition doesn't fit.

  8. #18
    Banned
    Join Date
    Jun 2011
    Last Seen
    03-16-12 @ 11:02 PM
    Gender
    Lean
    Libertarian
    Posts
    7,624

    Re: Is Social Security a Ponzi Scheme?

    Quote Originally Posted by rathi View Post
    SS is really just a social program funded by taxes. You don't get out what you put in. You pay for the elderly while you are employed, and get paid by the next generation of workers when you retire.] The problem is that demographic changes mean that the next generation of workers won't make enough to support boomers when they retire. Ponzi schemes are fraudulent because they are billed as normal investment setups. Social Security isn't fraudulent, so the definition doesn't fit.
    You just said it was. If you tell a group that they should pay into a program to help those who retire and that when you get there, those coming up will do the same for you, but then you note that the money isn't going to be there, how is that not fraudulent?

  9. #19
    Liberal Fascist For Life!


    Redress's Avatar
    Join Date
    Mar 2008
    Location
    Georgia
    Last Seen
    Today @ 11:30 AM
    Lean
    Very Liberal
    Posts
    93,290
    Blog Entries
    2

    Re: Is Social Security a Ponzi Scheme?

    Quote Originally Posted by deltabtry View Post
    I'll guess that we all knew exactly what Perry meant by saying this, he just phrased it is such a way to get his point across and I betcha we all know this to.
    We may know what he was saying, but we also know that what he was saying is wrong. SS is not a ponzi scheme, is only vaguely in any way like a ponzi scheme, and does not share any important characteristics of a ponzi scheme. Calling it a ponzi scheme is simply political rhetoric, and very badly chosen rhetoric that will hurt him if he gets past the primaries.
    We became a great nation not because we are a nation of cynics. We became a great nation because we are a nation of believers - Lindsey Graham

    Quote Originally Posted by Fiddytree View Post
    Uh oh Megyn...your vagina witchcraft is about ready to be exposed.

  10. #20
    Liberal Fascist For Life!


    Redress's Avatar
    Join Date
    Mar 2008
    Location
    Georgia
    Last Seen
    Today @ 11:30 AM
    Lean
    Very Liberal
    Posts
    93,290
    Blog Entries
    2

    Re: Is Social Security a Ponzi Scheme?

    Quote Originally Posted by 1Perry View Post
    You just said it was. If you tell a group that they should pay into a program to help those who retire and that when you get there, those coming up will do the same for you, but then you note that the money isn't going to be there, how is that not fraudulent?
    The program will have to change and adapt to meet changing situations. No one has ever claimed this was not the case.
    We became a great nation not because we are a nation of cynics. We became a great nation because we are a nation of believers - Lindsey Graham

    Quote Originally Posted by Fiddytree View Post
    Uh oh Megyn...your vagina witchcraft is about ready to be exposed.

Page 2 of 17 FirstFirst 123412 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •