Quote:
Originally Posted by underboss
To be precise, it is a Ponzi scheme.
Social Security is a Ponzi scheme.
A woman named Ida May Fuller , from Ludlow, Vermont was the first recipient of monthly Social Security benefits
Ida May Fuller worked for three years under the Social Security program. The accumulated taxes on her salary during those three years was a total of $24.75. Her initial monthly check was $22.54. During her lifetime (she lived to be a 100) she collected a total of $22,888.92 in Social Security benefits.
The Social Security Act was ostensibly a fund to pay pensions, but it doubled as a hidden tax to fund a Treasury reserve fund for the purpose of cloaking tax increases and higher government spending. "Contributors" to Social Security do not receive the returns from the money they paid into the "fund" in the past. Rather, just as in a Ponzi Scheme, they are paid from the funds of current contributors (taxpayers), and these taxpayers will in turn be paid from the taxes paid by the generation that follows them. In other words, its purpose is the redistribution of income, not investment toward the production of new wealth. |
Good post.
Too bad most Americans do not want to hear the truth.
In my opinion, social security is the MAIN reason why our government is allowing a flood of illegal immigration. We need the population growth to help fund social security. Even though most illegal immigrants do not fund social security, their children will and immigrants are responsible for almost all of the population growth of the USA.
Without huge increases in immigration, social security would not even be able to pay a small percentage of future promises.
Many people think that government assistance is an effort to help people, but nothing could be further from the truth. It is all about controlling the people.