4 ms·
Why do some people defend the system so vehemently? It's a funds-in, funds-out scheme. New 'investors' are required to pay out old 'investors'. I agree that
by brc 15y ago
Why do some people defend the system so vehemently? It's a funds-in, funds-out scheme. New 'investors' are required to pay out old 'investors'.
I agree that 'fraudulent' is inflammatory but to pretend SS is some type of insurance or pension fund is just gilding the lily.
I think everyone would be better off if everyone was just honest about what Social Security is, and what it will be if the contribution/payout ratios start to skew badly. It's belief in financial impossibilities that get people into problems.
- archgoon 15y ago> Why defend the system so vehemently He wasn't. He was stating specifically how it worked. >I think everyone would be better off if everyone was just honest about what Social Security is Calling it a ponzi scheme doesn't accomplish this goal.
- brc 15y agoYou're right - I'm fixing the wording on my comment. I was associating the wrong comment with my reply.