Is Social Security a Ponzi Scheme?

carpro · Sep 20, 2011

th1bill said: ↑

This is going to be a much debated issue but for myself, no, for the young folks of today, yes!

There are a number of problems, nobody wishes to discuss that have direct bearing on this issue. Birth control in any form reduces the number of future taxable income. When SS was set up, before all the add-ons were put in place it could never have gone broke except that things changed.

Then, the funding for the Korea War was needed and they removed it from SS. It seemed like a good idea at the time, take it for the war and replace it after... they never did so! then we fought my war, Vietnam and with the cost of building the Great Society, Lyndon needed funding... They opened the SS again and did not replace it. If they had in either case or even in both, the treasure chest would still have run dry, just later than now.

If they had replaced the money the interest from the World Bank was still lost for the years it was not there. And today the projected population is nowhere near the projection... less tax payers.
Click to expand...

I agree that it was not a "Ponzi" scheme until the government decided to spend the surplus funds and replace it with IOUs. As it is now, the government doesn't have the money to replace the spent funds, so it very much resembles a ponzi scheme.

Is Social Security a Ponzi Scheme?

Is Social Security a (legal) Ponzi Scheme

Yes it is

No it is not

Not sure

carpro Well-Known Member
Site Supporter

Useful Searches

Is Social Security a Ponzi Scheme?

Is Social Security a (legal) Ponzi Scheme

Yes it is

No it is not

Not sure

carpro Well-Known Member Site Supporter

carpro Well-Known Member
Site Supporter