John Stossel - Government's Ponzi Scheme

A look at the Social Security system. By contrast, Bernie Madoff seems like a shoplifter. http://www.LibertyPen.com

Category:

News & Politics

Tags:

• tyranny
• liberty
• libertarian
• entitlement
• economics
• pyramid
• politicians
• federal
• children
• future
• generations
• unfunded
• liabi

[iFreedom4ever]

Instead of throwing Madoff in jail, they should have made him head of the treasury dept or social security.

[Surhotchaperchlorome]

A trillion dollar scam?

Um...Actually, it's more like $100 trillion if you include unfunded liabilities.

[1Archie11]

@fzqlcs I question you math. SS is set up as a classic insurance Scheme. Insurance scheme's and Ponzi scheme's are very different and properly managed an insurance scheme is sustainable although it is a bit of a gamble. Some pay in and never need the Insurance, Some benefit only a little from the insurance, and some get more from the insurance than they ever paid for it. Generally speaking though the more you pay in the more you get back.

[fzqlcs]

@1Archie11 Who made all the moneyThe money was made by the first generation of recipients who collected far beyond what they put in, if any. The big losers are the subsequent generations who get less and less, but pay more and more. It is a Ponzi scheme because it is mathematically unsustainable. Of course, the long term winners are the useless bureaucrats who push paper at the Social Security Administration.

[1Archie11]

If Social Security is a Ponzi Scheme, Who is making off with all the money? I have never heard of a Ponzi scheme that takes money from someone and gives it back to them later. Who is this person that in this supposed Ponzi Scheme that is profiting?

[ElJefer]

Yet idiots still vote for the same idiots that advocate it

[darris321]

I like how they say "It's not a ponzi scheme because everyone pays"

uh... that doesn't disqualify ponzi scheme lol

[Vote4RonPaulLiberty]

First of all Social Security was never meant to supply people with money to live on it was a SUPPLEMENT only! Secondly, the government has already looted it. That same government is now being asked to continue controlling YOUR money? This actually makes sense to some of you? Really? Those who have already paid during their working lifetime should continue to receive it but we need to wean ourselves from it after that.

[InYourMomsBox]

paul ryan made a lot of sense right there.

[HoGraz]

@SquashDog01 You didn't say anything of intellegence. Talk about arrogance. Read the dribble you wrote. You are a moron to try to pin-point me and attack my person to such an extent like you do. I assume you must be another elitist corporate libertarian. Think about who that must serve best. See you later El-Dip-Shito.

[SquashDog01]

@HoGraz Such arrogance! That can only come from nut job leftists like you. I am NOT a rightist. I am insulted that you would even suggest that i am. But only in your sad little black and white world are there two philosophies. What a sad and uninspired life you must lead. And created the problem, my god, does your arrogance know no bounds? This problem started in 1979 with the housing and redevelopment act. My god man, even Wikipedia got it correct. Learn your history. God i hate leftists.