Skull Pilot
Diamond Member
- Nov 17, 2007
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If Social Security were a "Ponzi scheme," it never would have worked from the first year out. The only reason it can't work now without some adjustment is because people are living longer, thereby collecting longer, and more in benefits are paid out than taken in.
Wrong. Social Security is very much a Ponzi Scheme because there are less workers supporting the recipients than there were when the program was implemented. There were 16 workers for every recipient back in the 1930s. Today there are two and now you have the Baby Boomers, the largest generation, retiring. People don't have eight kids like they did back in those days to sustain the system.
That's what I said. But you're implying that from the start it was a Ponzi scheme, and it wasn't. Your own words confirm that. Was the design flawed by not taking into consideration that there would gradually become more recipients than workers to support it? Well yeah. On that I agree.
It doesn't matter what SS started as. It matters what it is. And what it is is a Ponzi Scheme.
Roads to hell and good intentions come to mind.