Social Security: One Big Ponzi Scheme?
source: http://https://www.ypnation.com/blogs/social-security-one-big-ponzi-scheme
YPNation's Jake Bolinger has posted a provocative piece today on the future of Social Security.
Here's an excerpt:
...Regardless of motive it is now plain to those of at the bottom of the pyramid that the system is broken. This is usually the point in a Ponzi scheme where things fall apart. Even Madoff was able to recognize he needed many more bodies entering the system than leaving it, and when the equation didn’t add up he paid the price. The government has one advantage over Madoff however: a monopoly on force. Picture Bernie with a gun and a looser set of morals and you have an accurate picture of Washington--able to force young workers to pay into a system that they know will never benefit them. As if that indignity wasn’t enough, we have to hear how it’s for our own good.
Read more at https://www.ypnation.com/blogs/social-security-one-big-ponzi-scheme
Here's an excerpt:
...Regardless of motive it is now plain to those of at the bottom of the pyramid that the system is broken. This is usually the point in a Ponzi scheme where things fall apart. Even Madoff was able to recognize he needed many more bodies entering the system than leaving it, and when the equation didn’t add up he paid the price. The government has one advantage over Madoff however: a monopoly on force. Picture Bernie with a gun and a looser set of morals and you have an accurate picture of Washington--able to force young workers to pay into a system that they know will never benefit them. As if that indignity wasn’t enough, we have to hear how it’s for our own good.
Read more at https://www.ypnation.com/blogs/social-security-one-big-ponzi-scheme
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