Ponzi Scheme – A Ponzi intrigue is an investment operation which pays earnings to investors from their own income or income paid by successive investors rsther than than from any tangible distinction earned.
Is it only me, or does Social Security receptive to advice the lot similar to the Ponzi Scheme?
{ 8 comments… read them below or add one }
Gotta have a scapegoat once in a while.
Obviously Madoff pissed off the wrong person.
So what are you saying? That our country should go back to the time when there were no safety nets and elderly people were dying on the sidewalks?
And in case you didn’t notice, the people who pay into Social Security know that they are doing so and that they will get a return from it. The people investing with Madoff did not know what they were getting into. Big difference. One is fraudulent, the other isn’t.
Yes I was thinking the same thing They all deserve Life sentances.
We all know how SS works. Madoff was not up front about how his scheme worked, in fact he told people he was doing something totally different, hence he was lying to his investors.
Social Security is the only legal Ponzi Scheme. The new members pay for the benefits of the older members and it is mandatory. To make matters worse, government has been borrowing from this pool of money every year almost since it was created.
It is a Ponzi scheme, and it’s going to fail. There are more people getting ready to retire, and who will demand benefits than there are people currently working to pay for them.
And to answer that one girl, YES. Private charity is the best way to handle poverty. The only difference is that Social Security is enforced through firepower, it’s just very inefficient.
People ARE being misled about Social Security.
It is a tax. They have no obligation to pay you what you put in to it. Because it is a tax, it isn’t a ponzi scheme, it’s just immoral.
By the way. People weren’t “dying in the streets” before SS. You can make your own safety net by saving your own money. In the most extreme cases there is charity.
What they are doing is Treason. It is a capital crime. At the founding of this country this ideology in the government would have been dragged to the public square hanged for betraying and infiltrating American freedom security. Today… we live in moral relativism and decline… so you’re not held to account as long as you’re clever in covering up the truth. Global Warming, Health Care, SS… all Ponzi Schemes … only exist to advance their political power and massive bureaucracy. They should all be thrown in prison including our president.