View Poll Results: Is Social Security a Ponzi Scheme?

Voters
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  • 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%
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Thread: Is Social Security a Ponzi Scheme?

  1. #21
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    Re: Is Social Security a Ponzi Scheme?

    Is Social Security a Ponzi Scheme?
    You bet!

    In fact SS is a tax.
    Last edited by Canell; 09-10-11 at 05:27 PM.

  2. #22
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    Re: Is Social Security a Ponzi Scheme?

    Quote Originally Posted by Redress View Post
    The program will have to change and adapt to meet changing situations. No one has ever claimed this was not the case.
    With my position being, until it is, it's currently being run like a Ponzi scheme.

  3. #23
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    Re: Is Social Security a Ponzi Scheme?

    Quote Originally Posted by 1Perry View Post

    With my position being, until it is, it's currently being run like a Ponzi scheme.
    Is it your position that it's currently being run like a ponzi scheme because it could fail?

  4. #24
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    Re: Is Social Security a Ponzi Scheme?

    Quote Originally Posted by Sheik Yerbuti View Post
    Is it your position that it's currently being run like a ponzi scheme because it could fail?
    No, most any business or program could fail. I've stated why I thought it was.

  5. #25
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    Re: Is Social Security a Ponzi Scheme?

    Yeah, pretty much. Good idea, but poorly executed. With a normal social program, you tax people, but then you can say, "This is what you're getting for your money." With social security, you're taking people's money, but you're promising to give it back to them later. They don't get anything for it right now, so if they don't get that money back later, you pretty much just ripped them off. And of course, you can't just stop collecting social security from people, because then you wouldn't be able to pay back what you currently owe.
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    Re: Is Social Security a Ponzi Scheme?

    The income (interest) it generates is no where close to what it pays out. It basically takes from one investor to pay an earlier investor (with their knowledge). Here's a breakdown.

    Here's where it's headed.

    Basically, they'll have to fund it out of the treasury or default.
    The US is an odd ship. The captain yells out when he sees obtacles , but 535 individual propellers do the steering.

  7. #27
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    Re: Is Social Security a Ponzi Scheme?

    Quote Originally Posted by 1Perry View Post
    With my position being, until it is, it's currently being run like a Ponzi scheme.
    Except that it isn't. It is nothing different than any other program that pays from government coffers. By your argument, government employee pay is a ponzi scheme, which is obviously ridiculous.
    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

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    Uh oh Megyn...your vagina witchcraft is about ready to be exposed.

  8. #28
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    Re: Is Social Security a Ponzi Scheme?

    Quote Originally Posted by Redress View Post
    Except that it isn't. It is nothing different than any other program that pays from government coffers. By your argument, government employee pay is a ponzi scheme, which is obviously ridiculous.
    The ponzi scheme part of it is that they tell you you're going to get your money back, when in all likelihood, you're never going to see it again. A program where they just gave a small stipend to seniors who couldn't afford their retirement would be better, since it would be honest.
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    Re: Is Social Security a Ponzi Scheme?

    Quote Originally Posted by Redress View Post
    Except that it isn't. It is nothing different than any other program that pays from government coffers.
    The government has no coffers.

    By your argument, government employee pay is a ponzi scheme, which is obviously ridiculous.
    Well now that you bring it up......but no, it wouldn't be the same. In a government job you are told that if you work 40 hours, this is what you will get. It's what you get.
    With S.S. the arguement is that if you pay in, you will get this at this age. Many are not going to get that.

  10. #30
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    Re: Is Social Security a Ponzi Scheme?

    I see it as a ponzi scheme because it relies on present-incoming monies from working individuals to pay back the 'I - O - U' and payouts to recipients who are drawing from social security right now.
    A screaming comes across the sky.
    It has happened before, but there is nothing to compare it to now.
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