View Poll Results: Is Social Security a Ponzi Scheme?

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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. #41
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    Re: Is Social Security a Ponzi Scheme?

    Quote Originally Posted by Aunt Spiker View Post
    A stack of endless IOU's is all that a ponzi scheme is.

    In a Ponzi scheme people pay into a pretend pool of money (usually 'investment' into stocks or something) and in order to keep the scheme going the monies coming in need to be sufficient enough to turn around and pay out to those who are expecting some type of dividend or return. This divided - to the ponzi-operator - is an "IOU"
    It's not a pretend pool of money. It's an actual pool of money. Unlike SS, there is no surplus to spend on other budgetary items.

    Quote Originally Posted by Aunt Spiker View Post
    A stack of endless IOU's is all that a ponzi scheme is.

    The moment the monies in/out at current tap out - the scheme falls apart.

    With SS the moment people aren't paying in at the rate that people are taking out - it'll cave in on itself and go belly up.

    It is a ponzi scheme with a few extra tiers and the backing and full support of the US government to maintain it.
    Which make SS not a ponzi scheme. A ponzi scheme fails when it exhausts its supply of investors. SS's investor pool is not exhausting if it can't support the baby boobers. And unlike a ponzi scheme which fails when the investor supply runs dry, the federal government has other options to support the influx of baby boomers.

  2. #42
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    Re: Is Social Security a Ponzi Scheme?

    The only reason why SS's pool doesn't fail is because the government has leverage to just TAKE to fund it - a ponzi scheme in the traditional sense must have people DRAWN to it.

    That doesn't change the fact that it - at present - functions like a ponzi scheme.
    Last edited by Aunt Spiker; 09-10-11 at 08:05 PM.
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  3. #43
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    Re: Is Social Security a Ponzi Scheme?

    if we don't raise the contribution ceiling, alternative forms of funding are eventually going to be necessary. might be a national sales tax. i'd prefer to see the ceiling raised, though.

  4. #44
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    Re: Is Social Security a Ponzi Scheme?

    In order for SS not to be like Ponzi scheme in my view it would have to function just like a savings account - without the government profitting and without giving stipulations which limit how you can use *your* money and *when* you can access it.
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  5. #45
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    Re: Is Social Security a Ponzi Scheme?

    Quote Originally Posted by Aunt Spiker View Post
    The only reason why SS's pool doesn't fail is because the government has leverage to just TAKE to fund it - a ponzi scheme in the traditional sense must have people DRAWN to it.

    That doesn't change the fact that it - at present - functions like a ponzi scheme.
    So in other words it's just like a ponzi scheme except that it isn't like a ponzi scheme.
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    Re: Is Social Security a Ponzi Scheme?

    Quote Originally Posted by Aunt Spiker View Post
    In order for SS not to be like Ponzi scheme in my view it would have to function just like a savings account - without the government profitting and without giving stipulations which limit how you can use *your* money and *when* you can access it.
    Did you know there are lots of things not like savings accounts that are not ponzi schemes?
    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.

  7. #47
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    Re: Is Social Security a Ponzi Scheme?

    Quote Originally Posted by 1Perry View Post

    What was my arguement? Not that it was, but that it is currently being run like one. Unless changed, S.S. is destined to fail.
    Which also differentiates SS from a ponzi scheme. A ponzi shceme cannot be saved from failure.

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    Re: Is Social Security a Ponzi Scheme?

    Quote Originally Posted by Sheik Yerbuti View Post
    Which also differentiates SS from a ponzi scheme. A ponzi shceme cannot be saved from failure.
    You remain argueing with yourself.

  9. #49
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    Re: Is Social Security a Ponzi Scheme?

    Social Security needs a bit of adjustment, but, unless one is referencing the size of generations from the baby boom and later, I fail to see how it could be classified as a ponzi scheme. And honestly, the different generation size issue is an actuarial problem more than anything else.

  10. #50
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    Re: Is Social Security a Ponzi Scheme?

    Quote Originally Posted by GreenvilleGrows View Post
    Yes? No? Why?
    I say yes because I do not expect any person under 45 years old putting money into social security to get anything out of it because it will be bankrupt by the time they are old enough to collect.
    "A nation can survive its fools, and even the ambitious. But it cannot survive treason from within. An enemy at the gates is less formidable, for he is known and carries his banner openly. But the traitor moves amongst those within the gate freely, his sly whispers rustling through all the alleys, heard in the very halls of government itself. For the traitor appears not a traitor; he speaks in accents familiar to his victims, and he wears their face and their arguments, he appeals to the baseness that lies deep in the hearts of all men. He rots the soul of a nation, he works secretly and unknown in the night to undermine the pillars of the city, he infects the body politic so that it can no longer resist. A murder is less to fear"

    Cicero Marcus Tullius

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