The government’s Ponzi scheme

When Bernard Madoff runs a Ponzi scheme, it’s called fraud.

When government does it, it’s called Social Security.

Tedd  Potts
Leawood

Comments

[Social Security Disability]

The difference is, the government intends to give the funds to people in need (retired and disabled). Not saying there aren't disability claims that are fraudulently approved, but the intent is to help those in need.

[Pub 17]

Wos, this is impressive: Nice Guy knows even less about Social Security than Tedd Potts.

Rogue does have nothing of substance to say, but does have a nifty Original Maverick, a 1971 Grabber with repro Wide Ovals and the factory mono AM/eight-track player. The entire Energized Base can fit in the back seat.

[viet-vet1970]

Once again MIAnotKIA shows he has nothing of substance to say by falling back on meaningless personal attacks.

[NoMoreMrNiceGuy]

Jayhawk does not even understand what a trust find is, not just wealthy people have trusts set up. We have a trust, we are not wealthy. Social Security id easy to understand, the government takes half of this scheme from you and the other half from your employer, they pocket the money, spend it on whatever they choose, then give you back a small fraction of what you put in and in many cases give a nearly equal fraction to people that didn't put in. You never receive as much as you put in and when you die, your family gets screwed and the government commies keep your money. Very easy to understand.

[homer glasgow]

jaysqualker, the current administration is the bush administration. to compare one man ripping off fifty billion, a registered republican no less with a complete lack of moral code to social security, is assinine.

[Pub 17]

At least while you're around I'm not the ugliest m.f. in the room.

[mianotkia]

Once again 17 Pubes attempts to be the smartest person in the room and fails. What a laugh riot!

[Pub 17]

I guess you guys didn't get the e-mail. Any clueless boob who repeats the phrase, "Why, Social Security is nothing more than a giant Ponzi scheme!" has to pay a $2,500 fine and write a 1,000 word essay on, "Why I Should Not Repeat Things I Don't Understand," to be submitted to a three-judge panel. All proceeds will be dedicated to some charitable purpose, or something.

[Mike4Freedom]

Indeed, Social Security is a Ponzi scheme right out in the open. They don't have to make believe that the money is there because you have no choice but to continue to put money in. It is taken from you involuntarily.

If it was voluntary, no sane person would put another penny into SS.

[Gary]

Jayhawk, I'll bet it felt good to get that off your chest. But what did it have to do with the letter?

[jayhawk67]

Oh, really? If folks like the current administration--incompetent, clueless, anti-government, anti-middle class, you-scratch-my-back-I'll-scratch-yours, gee-my-trust-fund-really-took-a-hit, etc.--get back in power, yeah, you've got a good point.
In fact, the government borrows that money and issues obligations to social security as collateral for the loan.
So the promise of the government is as good as the people in charge of the government. In the case of either Bush administration, we got a dose of of very bad government.
However, when people in the government know what the capabilities of good government are--FEMA and Katrina is a good example of the polar opposite--there is a stronger likelihood that its will meet its obligations.
On a side note, if you look at the personality and temperament of a campaign you are likely to have a gauge on the type of government you will get. W used distortions and worse to get the nomination in 2000 then had to rely on Florida fiasco to get in. His second campaign used swift boats and questionable votes in Ohio. Look what we got.
Obama kept his campaign at a high level of civil discourse. There was a whole lot of mud that could have been thrown at John McCain but it never showed up.
We can and should expect a lot better performance from this government.