Msg. 57490 of 65535 (This msg. is a reply to
57478 by
joe-taylor)
Jump:
Joe,
Is there some sort of a 'measurement' by which I can
say I 'Own' so much of Social Securities assets?
Of course not.
Ponzi schemes work by taking dollars from current
investors . . . to pay off previous investors. If
enough new investors do not pony up the dollars, the
scam collapses.
When Social Security was set up, it was taking dollars
from current workers, to pay off current retirees.
Today, Social Security takes dollars from current
workers to pay the promised retirement benefits. Just
like the Ponzi scheme. Probably the biggest
difference is folks are REQUIRED to take part in it.
And, yes, I would like to get out of the S.S. Ponzi
scheme. What do you think is going to happen to
the Social Security 'surplus' if people ever decide
United States Treasury notes are not worth the paper
they are printed on?
You talk about 'a little jiggling of the contribution
level' and S.S. will be solvent . . . until the thieves
in the congress decide to fund another 'problem'
with the 'new surplus' and then there will be more
need to 'jiggle the contribution' . . . It'll last
until a lot of workers start asking "Why am I working"
. . "Why do I tolerate so many of my hard earned
dollars disappearing out of my paycheck?"
I think the explanations require a history lesson . . .
But I recognize the futility of trying to educate
certain . . . . Hmmmm. . . No personal attacks.
Social security is a retirement plan funded by the contributions of those who participate in it. It is not a ponzi scheme except in the eyes of people like you who would probably like to get out of it entirely. A little jiggling with the contribution level and raising the ceiling on how much wealthy people contribute would make it solvent for many years to come. Ever so often it needs to be adjusted for the times that we live in but it has been around for the better part of a century and is still providing a floor so that those without the sophistication to invest successfully will have some form on a half way dignified retirement. The problems that social security currently faces arose from the presidency of George W. Bush when he almost brought the nation to ruin with his lack of intelligence and foresight.
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