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Yes it is a Ponzii scheme you are FORCED to participate in.
Yes it is a Ponzii scheme you are FORCED to participate in.
ask a liberal why people should not be able to opt out. Normally its due to the obvious fact its an income redistribution scheme after all
Well, sure, but if you change the definition of what a ponzi scheme is, then it's a ponzi scheme. :thumbs:Social security isn't a Ponzi scheme because it isn't fraudulent.
Social security isn't a Ponzi scheme because it isn't fraudulent. Anyone with a brain could figure out that the people getting checks when the program first started obviously couldn't have paid anything substantial into it.
PolitiFact Texas | Rick Perry says Social Security is a Ponzi scheme
By definition, SS is not a ponzi scheme.
And it cannot be considered one. Not even called like one. The differences are significant and rule out any direct comparison.
And it cannot be considered one. Not even called like one. The differences are significant and rule out any direct comparison.
It looks like it meets the definition of a Ponzi Scheme.
Ponzi Scheme | Define Ponzi Scheme at Dictionary.com
: an investment swindle in which early investors are paid with sums obtained from later ones in order to create the illusion of profitability
So except for the way it is done, and for the goal, it is like a ponzi scheme?
So you are saying that current SS recipients are not being paid by younger SS payers who may not even get their share?
So you are saying that current SS recipients are not being paid by younger SS payers who may not even get their share?
Ponzi vs. Social Security Social Security is and always has been either a "pay-as-you-go" system or one that was partially advance-funded. Its structure, logic, and mode of operation have nothing in common with Ponzi schemes or chain letters or pyramid schemes. The first modern social insurance program began in Germany in 1889 and has been in continuous operation for more than 100 years. The American Social Security system has been in continuous successful operation since 1935. Charles Ponzi's scheme lasted barely 200 days. |
Larry DeWitt Historian's Office January 2009 Social Security Online - HISTORY, Ponzi Schemes vs. Social Security |
Hey, a dog can be called a cat because they both have 4 legs and a tail.And it cannot be considered one. Not even called like one. The differences are significant and rule out any direct comparison.
That definition alone highlights that SS is not a ponzi scheme as it's not an investment for profit.It looks like it meets the definition of a Ponzi Scheme.
Ponzi Scheme | Define Ponzi Scheme at Dictionary.com
: an investment swindle in which early investors are paid with sums obtained from later ones in order to create the illusion of profitability
In order for the elderly to get SS I and many other people not old enough to qualify for SS have to pay into it under the illusion we are going to get it back plus more back just like a Ponzi scheme requires newer investors to pay money into under the illusion they are going to make a profit it in order for the older investors to get money. This meets the definition of a Ponzi Scheme.That definition alone highlights that SS is not a ponzi scheme as it's not an investment for profit.
Which would not fit the definition of a PONZI scheme.
There is no illusion you will get back more and how much you get back actually depends on how long you live. Another departure from ponzi schemes. It's not an investment for profit. It's an investment to make sure that even the poorest of the elderly gets a few bucks to live on. It's more like an insurance policy.In order for the elderly to get SS I and many other people not old enough to qualify for SS have to pay into it under the illusion we are going to get it back plus more back just like a Ponzi scheme requires newer investors to pay money into under the illusion they are going to make a profit it in order for the older investors to get money. This meets the definition of a Ponzi Scheme.
In order for the elderly to get SS I and many other people not old enough to qualify for SS
In order for the elderly to get SS I and many other people not old enough to qualify for SS have to pay into it under the illusion we are going to get it back plus more back just like a Ponzi scheme requires newer investors to pay money into under the illusion they are going to make a profit it in order for the older investors to get money. This meets the definition of a Ponzi Scheme.
Unlike a Ponzi scheme which quickly runs out of cash and is fraudulent , Social Security is a self sustaining pay-as-you-go system that is funded by payroll taxes. Thanks to President Reagan and the Greenspan Commission in 1983, adjustments were made to the system so that the Social Security trust fund now has approximately $2.6 trillion invested U.S. Treasury Bonds. Today recipients receive 100% of their benefits, but if no further adjustments are made and the trust fund is exausted, it will still be able to pay about 80% of the benefits.I am saying that there is no evidence that younger people will not get SS payments. There are several plans all of which will make SS good indefinitely. Like all programs however, some changes will have to be made. That is normal.
In order for the elderly to get SS I and many other people not old enough to qualify for SS have to pay into it under the illusion we are going to get it back plus more back just like a Ponzi scheme requires newer investors to pay money into under the illusion they are going to make a profit it in order for the older investors to get money. This meets the definition of a Ponzi Scheme.