Social security a ponzi scheme?

Discussion in 'Politics' started by LilOlLady, Sep 12, 2011.

  1. LilOlLady
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    LilOlLady Gold Member

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    SOCIAL SECURITY A PONZI SCHEME?
    Just because someone call a cat a rat does not mean it is a rat. Perry said Social Security is a Ponzi scheme and FOXNEWS grabbed it like a dog with a bone and ran with it. Social Security is not a Ponzi scheme and those who call it such don’t know what a ponzi scheme is. Social Security is no where near the Ponzi scheme Madoff played.

    A Ponzi scheme is a fraud in which money from one group of people is used to pay promised returns to another group of people. The money isn't invested, it's just transferred, and at some point the scheme collapses because there's not enough income to satisfy withdrawals. http://money.cnn.com/2009/01/06/news/ec ... /index.htm

    Social Security has a surplus of $2.6 trillion. People pay into Social Security and they receive payment in return. Nay Sayers that say Social Security will not be there for our children are jut fear mongering to gain support for privatizing it. Not even that but to receive votes in 2012. If Social Security is going broke nothing will save it. As long as people are paying into it, it will be there for future recipients.

    Other scare mongering is having to raise the retirement age and cutting the benefits. Then some will die and never collect on the money they paid into the program and cutting benefits with raising medical, cost of living is not an option that future retirees are looking forward to. Social security is secure for the next generation.

    401 accounts an option for future retires? Now that a Ponzi scheme.
     
  2. blastoff
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    blastoff Undocumented Reg. User

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    Who woke her up?
     
  3. The Infidel
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    The Infidel EVIL CONSERVATIVE

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    This is bullshit
     
  4. The Infidel
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    The Infidel EVIL CONSERVATIVE

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    :poke:
     
  5. Bern80
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    Bern80 Gold Member

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    Then by definition yes, SS IS a ponzi scheme because it does in fact take money from one group of people and gives it to another.

    You are living in a dream world lady if you think SS 'will always be there as long as people pay into it'. I don't know about you but i get a statement from the dept of social security and even the dept of social security says social security is gong bankrupt.
     
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  6. jgarden
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    jgarden Senior Member

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    The GOP is heavily dependent on older, white voters.

    When Perry questions the validity of SS, he's sowing the seeds of mistrust among his base!
     
  7. waltky
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    waltky Wise ol' monkey Supporting Member

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    Ratio too low, need to improve the economy to get the numbers back up...
    :eusa_eh:
    Labor Dept. Data: Only 1.75 Full-Time Private Sector Workers Per Social Security Recipient
    September 12, 2011 - There were only 1.75 full-time private-sector workers in the United States last year for each person receiving benefits from Social Security, according to data from the Bureau of Labor Statistics and the Social Security board of trustees.
     
  8. Charles_Main
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    Charles_Main AR15 Owner

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    Dozens of People on Both sides of the Isle have called it a Ponzi or Pyramid Scheme in the past. Dating back since it's creation. Why all the attention on perry saying it? It's more true than it's not, and it is by far not the first time someone as pointed it out.
     
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  9. Political Junky
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    Political Junky Gold Member

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    Rick changed his mind, it's not a Ponzi scheme anymore.
     
  10. Quantum Windbag
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    Quantum Windbag Gold Member

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    Good thing no economists believes that SS is a Ponzi game.

    Paul Samuelson.

    The real deal: the history and ... - Google Books

    Paul Krugman

    Boston Review: Paul Krugman on The New Inequality

    Yep, good thing, all those people who argue that SS is similar to a Ponzi scheme are idiots.

    FYI, I already started a thread about this, and your side lost.
     

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