Social Insecurity?

Social Security is a scam.There. I’ve said it.

The theory of SS is simple: You put money into a special Government-administered fund, where it used to provide for your old age.

A wonderful idea if only it worked that way. What actually happens is quite different; your “Contributions” are collected and treated as tax payments, and are used for many unrelated purposes, including paying off the current batch of Social Security retirees.

Let me think… taking money from new investors to pay off older ones. Where have I seen that before? Aha! I have it!

It’s called a Ponzi scheme.

Also known as a Pyramid Scheme.

Which is illegal in all fifty states.

Why? Because in the end, it always collapses under its own weight, leaving the last investors – the largest group – penniless.

No, I am not a Republican shill out to lambaste the Democrats. Personally I see little difference between the two parties, besides who their friends are and from whom they collect their taxes.

I find it fascinating and somewhat amusing to watch some people defending SS and insisting that nothing is wrong with it. To them, the Emperor is beautifully dressed, and there is no Crisis. They seem to have a poor grasp of elementary mathematics.

They have also forgotten that when SS came into existence only one in fourteen people survived to 65 – pretty slim odds for the retirees.

In other words, it was a scam on day one.

Did I miss anything?

Post a comment or leave a trackback: Trackback URL.

Leave a Reply

Please log in using one of these methods to post your comment: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: