Social Security is Not a Ponzi Scheme, Mr. Perry

[Quantum Windbag]

For the SS is not a Ponzi scheme crowd.

One, a Ponzi scheme collects money from new investors and uses it to pay previous investors—minus a fee. But Social Security collects money from new investors, uses some of it to pay previous investors, and spends the surplus on programs for politically favored groups—minus the cost of supporting a massive bureaucracy. Over the years, trillions of dollars have been spent on these groups and bureaucrats. Two, participation in Ponzi schemes is voluntary. Not so with Social Security. The government automatically withholds payroll taxes and “invests” them for you.
Three: When a Ponzi scheme can’t con new investors in sufficient numbers to pay the previous investors, it collapses. But when Social Security runs low on investors—also called poor working stiffs—it raises taxes.

Social Security is Not a Ponzi Scheme, Mr. Perry - Hit & Run : Reason Magazine

 

[rdean]

It is to Republicans. Even many on Social Security. Only they don't know it's Social Security. They think it's from "fans".

 

[oreo]

It is to Republicans. Even many on Social Security. Only they don't know it's Social Security. They think it's from "fans".

Social Security is a bigger and better ponzi scheme than Bernie Maddof ever thought of.

For all your working life--you and your employer pay 12..4% of your gross wages into this fund. If you're lucky enough to make it to 67 years old they will give you back diddly sqaut on your investment--and should you meet your demise early and are single they simply confiscate your contribution. The Federal Government uses this fund to pay for wars--foreign aid--disaster relief--and about anything and everything other than what it was intended for--the well being of the elderly in this country.

That's why Rick Perry is right--he won't win election on his stance--because so many are dependent on social security today.

 

[Quantum Windbag]

It is to Republicans. Even many on Social Security. Only they don't know it's Social Security. They think it's from "fans".

Thank you for proving you do not read posts or links. You just made my entire month.

 

[Article 15]

It is to Republicans. Even many on Social Security. Only they don't know it's Social Security. They think it's from "fans".

Thank you for proving you do not read posts or links. You just made my entire month.

That's one mighty sad life you are living.

 

[Quantum Windbag]

It is to Republicans. Even many on Social Security. Only they don't know it's Social Security. They think it's from "fans".

Thank you for proving you do not read posts or links. You just made my entire month.

That's one mighty sad life you are living.

You must have missed mu 10,000th post thread. I already know my life is pathetic.

 

[rdean]

It is to Republicans. Even many on Social Security. Only they don't know it's Social Security. They think it's from "fans".

Social Security is a bigger and better ponzi scheme than Bernie Maddof ever thought of.

For all your working life--you and your employer pay 12..4% of your gross wages into this fund. If you're lucky enough to make it to 67 years old they will give you back diddly sqaut on your investment--and should you meet your demise early and are single they simply confiscate your contribution. The Federal Government uses this fund to pay for wars--foreign aid--disaster relief--and about anything and everything other than what it was intended for--the well being of the elderly in this country.

That's why Rick Perry is right--he won't win election on his stance--because so many are dependent on social security today.

If you are old, $1,800.00 a month is nothing to sneeze at.

 

[rdean]

When Perry was asked about why Texas was last in health care, he said if Obamacare didn't force people to have health care, everyone in Texas would. So, less is "more"?

Of course, everyone is forced to have car insurance. Oops.

 

[Lakhota]

Well, we can all read what the media have to say about Social Security being a Ponzi scheme tomorrow.

 

[syrenn]

Thank you for proving you do not read posts or links. You just made my entire month.

That's one mighty sad life you are living.

You must have missed mu 10,000th post thread. I already know my life is pathetic.

link?

 

[Care4all]

most retirement funds run in the private sector are pretty much the same....

boomers not only paid for their parents SS, but they paid for a good portion of their own future SS retirement, by contributing the SS Surplus since Reagan DOUBLED (100% increase in our taxes for SS back in 1983).

The SS surplus money loaned, has to be paid back with income tax moneys.

 

[Liability]

Social Insecurity is very much akin to a Ponzi scheme.

But worse.

 

[Bern80]

There shouldn't be any more shining example of poor government is at at delivering services or how completely blind and obtuse liberals can be to it's abject failure, than SS.

What is SS goal? A safety net for the elderly and disabled.

Is the fund being used for that? NO

Is it solvent? NO

Is it the best a person can do to ensure income after retirement. HELL NO.

Is it a shining example of how blind liberals can be in their attempt to be 'compassionate' via government? YES

 

[Conservative]

It is to Republicans. Even many on Social Security. Only they don't know it's Social Security. They think it's from "fans".

You obviously failed to even read the OP, dipshit.

 

[Charles_Main]

For the SS is not a Ponzi scheme crowd.

One, a Ponzi scheme collects money from new investors and uses it to pay previous investors—minus a fee. But Social Security collects money from new investors, uses some of it to pay previous investors, and spends the surplus on programs for politically favored groups—minus the cost of supporting a massive bureaucracy. Over the years, trillions of dollars have been spent on these groups and bureaucrats. Two, participation in Ponzi schemes is voluntary. Not so with Social Security. The government automatically withholds payroll taxes and “invests” them for you.
Three: When a Ponzi scheme can’t con new investors in sufficient numbers to pay the previous investors, it collapses. But when Social Security runs low on investors—also called poor working stiffs—it raises taxes.

Social Security is Not a Ponzi Scheme, Mr. Perry - Hit & Run : Reason Magazine

I believe his point is that By Taking from the SS trust Fund to Fund the General Budget, Congress has turned it into something like a Ponzi Scheme.

 

[Conservative]

When Perry was asked about why Texas was last in health care, he said if Obamacare didn't force people to have health care, everyone in Texas would. So, less is "more"?

Of course, everyone is forced to have car insurance. Oops.

First, State, vs. Federal
Second, not even remotely the same thing, dipshit.

 

[flacaltenn]

It is to Republicans. Even many on Social Security. Only they don't know it's Social Security. They think it's from "fans".

Social Security is a bigger and better ponzi scheme than Bernie Maddof ever thought of.

For all your working life--you and your employer pay 12..4% of your gross wages into this fund. If you're lucky enough to make it to 67 years old they will give you back diddly sqaut on your investment--and should you meet your demise early and are single they simply confiscate your contribution. The Federal Government uses this fund to pay for wars--foreign aid--disaster relief--and about anything and everything other than what it was intended for--the well being of the elderly in this country.

That's why Rick Perry is right--he won't win election on his stance--because so many are dependent on social security today.

If you are old, $1,800.00 a month is nothing to sneeze at.

It was a great deal if you made $18,000 a year for most of your working life and only had to pay 2 or 3% of that per year..

For 40 or 50 yr olds today making over about 30K a yr, there's NO WAY you're gonna see a return of what you've paid in. For most -- it's a negative investment.

Doesn't mean we shouldn't continue as best we can with the ORIGINAL INTENT of it being UNIVERSAL. So allow workers making OVER $30K or so the ability to stash SOME of the "contribution" into private accounts (in return for reduced benefits). And leave the folks under 30K to be subsidized as they are being now..

Simple aint' it.. Even FDR would approve given the current reality. He's much rather see THAT RDean -- then to turn it into simple redistribution..

You would really piss FDR off BTW.

 

[Charles_Main]

The SS surplus money loaned, has to be paid back with income tax moneys.

That is the Problem, and I believe why Perry calls it a Ponzi Scheme. Congress was not suppose to take from the Fund at all. When they do what they are doing is spending money now, that we will have to pay in Taxes later to put it back in the Fund. It needs to be a hard and Fast law that there is NO ACCESS to the Fund to Supplement the General Budget. No More IOU's to the SS fund. Period.

 

[Lumpy 1]

Is there a guarantee that a 20,30, 40...yr. old paying into social security now will receive SS when they retire at 65-67...the odds are slim wouldn't you say...

That's the point Perry was making in the debate...

From the OP link, dang interesting

^^^^^^^^^..

Social Security taxes have been raised some 40 times since the program began. The initial Social Security tax was 2 percent (split between the employer and employee), capped at $3,000 of earnings. That made for a maximum tax of $60. Today, the tax is 12.4 percent, capped at $106,800, for a maximum tax of $13,234. Even adjusting for inflation, that represents more than an 800 percent increase.

Social Security is Not a Ponzi Scheme, Mr. Perry - Hit & Run : Reason Magazine

 

[Care4all]

Is there a guarantee that a 20,30, 40...yr. old paying into social security now will receive SS when they retire at 65-67...the odds are slim wouldn't you say...

That's the point Perry was making in the debate...

From the OP link, dang interesting

^^^^^^^^^..

Social Security taxes have been raised some 40 times since the program began. The initial Social Security tax was 2 percent (split between the employer and employee), capped at $3,000 of earnings. That made for a maximum tax of $60. Today, the tax is 12.4 percent, capped at $106,800, for a maximum tax of $13,234. Even adjusting for inflation, that represents more than an 800 percent increase.

Social Security is Not a Ponzi Scheme, Mr. Perry - Hit & Run : Reason Magazine

if not one reform for SS is made to secure it better, those above would receive 75% of what they were promised when they retire....