Quantum Windbag
Gold Member
- May 9, 2010
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- #181
The only problem today with social security today is the US government. Working people have paid into this program all of their working careers. The government has squandered this money away on everything except for what it was intended for.
That's not even true. The money was spent paying beneficiaries. Social Security is a pay-as-you-go program. When you pay your FICA tax its used to pay current beneficiaries. If there's any left over, they put it in the trust fund, if they're short a little bit, they take some out the trust fund, but on average its pay-as-you-go.
You just defined a Ponzi scheme.