Home > Political > Social Security IS a Ponzi Scheme

Social Security IS a Ponzi Scheme

Car in has a good post up about Social Security over at IsThisBlogOn: Depressing post du jour.

Social Security is the tip of the iceberg, regarding Entitlement Spending. The sooner we get used to the fact that Social Security is a Ponzi scheme that is not self supporting, the better. I know no one wants to hear that they are spending 7% of their income (14% for self employed!) on this, and won’t get a return. But math isn’t wrong, and the laws of supply and demand and shrinking birthrates will be it’s undoing.

At the time of Social Security’s founding, the life expectancy wasn’t over 65, which was the time you would start to collect. Think about that.

Edit: LC Aggie Sith points out another post on this: Reluctant-Rebel: Social Security a Ponzi Scheme?. Good definitions and good writing in this one, too. Thanks Aggie!

Categories: Political
  1. August 31, 2011 at 9:54 am
  2. September 1, 2011 at 11:17 pm

    We are so screwed I’ve found it’s better not to pay too much attention.

  1. No trackbacks yet.

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s