The catastrophic failure of progressive policy

[Hum Dinger]

Herr Otto, is Social Security a success in your mind?

If a man in 1980 took the same money that is taxed for SS and invested it in a mutual fund, would the return be less, the same, or approximately 42 times greater than the return from SS?

Yes, if everyone set aside some money from every paycheck and invested it wisely, they would undoubtedly do better than they'll get from SS.

However, that's not reality. People do not save, people do not know how to invest. Most live paycheck to paycheck...and spend all disposable income on junk.

SS is to provide some degree of financial security to everyone...so we don't have a bunch of homeless old goats dying in the streets.

 

[westwall]

Does it really...

"a form of fraud in which belief in the success of a nonexistent enterprise is fostered by the payment of quick returns to the first investors from money invested by later investors."

Everyone pays until they retire. Is the US Government a nonexistent enterprise? And what quick returns?

How about using the WHOLE definition. Typical progressive. You assholes lie more than Trump ever could...

"What Is a Ponzi Scheme?​

A Ponzi scheme is a fraudulent investing scam promising high rates of return with little risk to investors. A Ponzi scheme is a fraudulent investing scam which generates returns for earlier investors with money taken from later investors. This is similar to a pyramid scheme in that both are based on using new investors' funds to pay the earlier backers.


Both Ponzi schemes and pyramid schemes eventually bottom out when the flood of new investors dries up and there isn't enough money to go around. At that point, the schemes unravel.

Ponzi Scheme: Definition, Examples, and Origins

A Ponzi scheme is an investment scam that pays early investors with money taken from later investors to create an illusion of big profits.

www.investopedia.com

 

[otto105]

How about using the WHOLE definition. Typical progressive. You assholes lie more than Trump ever could...

"What Is a Ponzi Scheme?​

A Ponzi scheme is a fraudulent investing scam promising high rates of return with little risk to investors. A Ponzi scheme is a fraudulent investing scam which generates returns for earlier investors with money taken from later investors. This is similar to a pyramid scheme in that both are based on using new investors' funds to pay the earlier backers.


Both Ponzi schemes and pyramid schemes eventually bottom out when the flood of new investors dries up and there isn't enough money to go around. At that point, the schemes unravel.

Ponzi Scheme: Definition, Examples, and Origins

A Ponzi scheme is an investment scam that pays early investors with money taken from later investors to create an illusion of big profits.

www.investopedia.com

Does SS promise high returns? No

Does SS offer little risk? Yes, by design.

Does SS use early money to pay later? Everyone pays into the system as they work and then receive benefits upon retirement.


So, using both definitions you still want to call it a ponzi scheme?

 

[Uncensored2008]

For the majority of Americans SS is the only thing that keeps them out of poverty in old age.

Bullshit.

If you rely on SS, you'll be in poverty in old age.

But 60% of Americans have 401K or IRA's.

If you think that it is not a success, run for office on that platform.

It's a grift, stealing massive levels of wealth from working America. The same money in a 401K yields VASTLY more return.

 

[P@triot]

Like the 40 work week? Social Secuity?

Yes…like Social Security. The egregiously unconstitutional insolvent nightmare that has bankrupted the United States.

The left is so dumb, they literally celebrate their own failures

 

[P@triot]

For the majority of Americans SS is the only thing that keeps them out of poverty in old age.

Because the federal government unconstitutionally took all of their money in their young age.

 

[P@triot]

So, using both definitions you still want to call it a ponzi scheme?

It is literally a Ponzi Scheme. Those who came before receive money from those who just arrived.

 

[P@triot]

Can always count on left-wing policy for catastrophic failure…

Harvard economist breaks the bad news to CNN: Biden's inflation has wiped out wage gains from COVID relief bills | Blaze Media

For months, the Biden administration assured Americans that rising inflation is "not a problem" to fear amid the recovery from the coronavirus recession. Infusing multitrillion-dollar spending bills into the economy would not have a significant inflationary impact, the administration claimed...

www.theblaze.com

 

[Uncensored2008]

Yes, if everyone set aside some money from every paycheck and invested it wisely, they would undoubtedly do better than they'll get from SS.

However, that's not reality. People do not save, people do not know how to invest. Most live paycheck to paycheck...and spend all disposable income on junk.

SS is to provide some degree of financial security to everyone...so we don't have a bunch of homeless old goats dying in the streets.

As I pointed out to your slow friend Otto, 60% of Americans have 401K or IRA retirement accounts. Notice that our pampered public masters who work for Government have PERS and don't participate in Social Security. Our ruling caste is too good for that fraud.

 

[sear]

The catastrophic failure of progressive policy​

I'm all for conservatism. Without any conservation, the United States Constitution would be a distant, irrelevant memory.

- on the other hand ...

Without progress we'd still be commuting to the black smith, or the general store on horseback.
I prefer commuting to a safe, comfortable, air conditioned office in my safe, comfortable, air conditioned coupe.

Is there any reason to believe progressivism is substantially worse than conservatism? Seems to me we benefit from both.

 

[otto105]

It is literally a Ponzi Scheme. Those who came before receive money from those who just arrived.

Define those just arrived.

 

[otto105]

Because the federal government unconstitutionally took all of their money in their young age.

Define "all" of their money.

 

[otto105]

Yes…like Social Security. The egregiously unconstitutional insolvent nightmare that has bankrupted the United States.

The left is so dumb, they literally celebrate their own failures

SS has bankrupted the US or A? When?

If you think SS is unconstitutional you're a fool.

If you think it is not a success, pony up a run for office on it's cancellation.

 

[westwall]

SS has bankrupted the US or A? When?

If you think SS is unconstitutional you're a fool.

If you think it is not a success, pony up a run for office on it's cancellation.

Now you ignorant fool.

 

[otto105]

Now you ignorant fool.

Swing and a miss.

 

[P@triot]

SS has bankrupted the US or A? When?

$30 trillion in debt and counting. The biggest expenditure? Social Security

If you think SS is unconstitutional you're a fool.

The federal government is explicitly restricted to 18 enumerated powers by the US Constitution and (forced) retirement plans are not one of those powers.

Thank you for embarrassing yourself. You literally just showed the entire world you’ve never read the US Constitution.

If you think it is not a success, pony up a run for office on it's cancellation.

You lost this debate on facts, son. Social Security is an unmitigated disaster. It’s a Ponzi Scheme. It’s unconstitutional. And arguing “run for office on canceling it” is the battle cry of someone who lost on the facts.

 

[P@triot]

Define those just arrived.

People entering the work force for the first time - paying taxes for the first time. They are the equivalent of those who are the latest to join the Ponzi scheme.

The fact that you needed that explained to you is why you’re an unqualified to be discussing this subject matter.

You didn’t know that Social Security is built exactly like a Ponzi scheme. You didn’t know that it is 100% unconstitutional. You didn’t know that it is insolvent. And you didn’t know that it has bankrupted the United States.

 

[P@triot]

Nothing destroys an economy faster than the failed and idiotic left-wing ideology...

The decline is due in part to 183,000 people dropping out of the labor force as opposed to unemployed workers finding new jobs.

This is also the second month in a row of lackluster job gains that have fallen about 700,000 below expectations.

Normally, these last two subpar job reports would be bad news for unemployed workers. But with a record high 10.9 million job openings in the U.S., the poor job gains are perhaps most troubling for employers and consumers.

So to recap, we have a record 10.9 million job openings, but 183,000 people have dropped out of the labor force because the Dumbocrats incentivize them not to work.

More Bad Policies and Government Spending Will Worsen Labor Shortage

A September report shows a modest employment gain and an unemployment drop from 5.2% to 4.8%, yet many have dropped out of the workforce.

www.dailysignal.com

 

[otto105]

Nothing destroys an economy faster than the failed and idiotic left-wing ideology...

So to recap, we have a record 10.9 million job openings, but 183,000 people have dropped out of the labor force because the Dumbocrats incentivize them not to work.

More Bad Policies and Government Spending Will Worsen Labor Shortage

A September report shows a modest employment gain and an unemployment drop from 5.2% to 4.8%, yet many have dropped out of the workforce.

www.dailysignal.com

So, rates of employment jumped in red states with incentive maga fuckup governors?

No, not it didin't.

 

[Uncensored2008]

So, rates of employment jumped in red states with incentive maga fuckup governors?

No, not it didin't.

California is a "red state" Herr democrat?

California unemployment claims climb to highest level in three months – Press Enterprise - California News Times

California unemployment claims increased last week, rising to their highest level in almost three months. California workers filed 68,556 first unemployment claims in the week leading up to August 7, up from 62,209 claiming workers filed in the week ending July 31, the U.S. Department of Labor...

californianewstimes.com