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Social security isn't a Ponzi scheme because it's mandatory. If it was a true Ponzi scheme, you'd have the option not to participate in it. /s
by drcode 11y ago
Social security isn't a Ponzi scheme because it's mandatory.
If it was a true Ponzi scheme, you'd have the option not to participate in it.
/s
- Gibbon1 11y agoSocial Security is an insurance program. Which is why it's formal name is: Old-Age, Survivors, and Disability Insurance (OASDI). As such it doesn't promise to invest the money paid in at all. 90% of it is just paygo. Money comes in from working stiffs. Money goes out to grandma so she can buy catfood. The remainder is 'invested' in government securities.
- toast0 11y agoThere are some options, https://faq.ssa.gov/ics/support/KBAnswer.asp?questionID=3821&hitOffset=19&docID=2025 https://faq.ssa.gov/ics/support/KBAnswer.asp?questionID=3821... Clergy also may have the ability to opt out.