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Rick Perry says Social Security is a "Ponzi scheme" and a "monstrous lie" (Perry speaks the truth)
cbs ^ | 8/29/2011 | Corbett B. Daly

Posted on 08/29/2011 12:04:46 PM PDT by tobyhill

Republican presidential candidate Rick Perry continued his attack on Social Security over the weekend, calling it a "Ponzi scheme" and a "monstrous lie" to younger Americans who should not expect to get back their contributions upon retirement.

"It is a Ponzi scheme for these young people. The idea that they're working and paying into Social Security today, that the current program is going to be there for them, is a lie," Perry said, according to the Houston Chronicle.

"It is a monstrous lie on this generation, and we can't do that to them," Perry told a crowd a The Vine Coffeehouse in Ottumwa, Iowa.

(Excerpt) Read more at cbsnews.com ...


TOPICS: Extended News; Front Page News; News/Current Events
KEYWORDS: ponzischeme; rickperry; rinofreeamerica; socialsecurity; ss
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1 posted on 08/29/2011 12:04:50 PM PDT by tobyhill
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To: tobyhill

In the same breathe, he’s saying something has to change...


2 posted on 08/29/2011 12:05:57 PM PDT by Sacajaweau
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To: tobyhill

3 posted on 08/29/2011 12:06:12 PM PDT by tsowellfan
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To: tobyhill

It may be a ponzi, but until a better solution presents itself....


4 posted on 08/29/2011 12:07:56 PM PDT by DonaldC (A nation cannot stand in the absence of religious principle.)
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To: tobyhill

Yes of course he speaks the ABSOLUTE TRUTH. At the same time he provide plenty of ammo to Plouffe and Axelrod to scare senior citizens.


5 posted on 08/29/2011 12:08:02 PM PDT by Gen. Burkhalter
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To: tsowellfan

I do not think so.


6 posted on 08/29/2011 12:09:44 PM PDT by Paperdoll (NO MORE RINOS!)
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To: tobyhill

Obama 2nd term confirmed.


7 posted on 08/29/2011 12:10:41 PM PDT by Tempest (Google: Rick perry bi-national healthcare)
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To: DonaldC

The solution was proposed during the last administration. Allow workers to keep some of their own money and invest it in the actual private retirement markets, not letting the thieves in Washington keep stealing it.


8 posted on 08/29/2011 12:10:58 PM PDT by tobyhill (A Democrat that doesn't lie would be a lie)
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To: DonaldC
It may be a ponzi, but until a better solution presents itself....

SS is not a solution, it's a problem.
9 posted on 08/29/2011 12:10:58 PM PDT by Kozak ("It's not an Election it's a Restraining Order" .....PJ O'Rourke)
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To: tobyhill

Sometimes the truth hurts.


10 posted on 08/29/2011 12:11:39 PM PDT by Hugin ("A man'll usually tell you his bad intentions if you listen and let yourself hear it"--- Open Range)
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To: DonaldC
It may be a ponzi, but until a better solution presents itself....

... then we'll just let it destroy America's future, reducing our grandchildren into a life of poverty and ruin, because a nice man promised us Social Security one day during one of his fireside chats.

11 posted on 08/29/2011 12:12:35 PM PDT by Steel Wolf ("Few men desire liberty; most men wish only for a just master." - Gaius Sallustius Crispus)
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To: tobyhill

According to the 2009 Social Security and Medicare Trustees Report, the unfunded liablilty for Social Security is $17.5 trillion (it’s certainly greater now).

Now once Perry’s critics tell me where they’re going to find that $17.5 trillion, I’ll take their complaints about Perry seriously.


12 posted on 08/29/2011 12:13:13 PM PDT by Stosh
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To: Tempest
Not even close. People already know it's a Ponzi Scheme and is going broke.
13 posted on 08/29/2011 12:13:13 PM PDT by tobyhill (A Democrat that doesn't lie would be a lie)
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To: DonaldC

There has always been a better solution: Family and charity.


14 posted on 08/29/2011 12:13:24 PM PDT by icanhasbailout (Draft Napolitano 2012)
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To: tsowellfan

Gov. Perry needs to stop trying to be so tactful. He left out the word “Giant” when describing the grandaddy of “entitlement” taxes.

Tell it like it is Governor Perry, tell it like it is.


15 posted on 08/29/2011 12:13:38 PM PDT by Graewoulf ( obamatrauma"care" violates the 1890 Sherman Anti-Trust Law.)
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To: Paperdoll

Michael Reagan says in an interview that Rick Perry is the most reaganesque of the whole group. But, what does he know?

http://www.youtube.com/watch?v=ItRsDWw5rAg


16 posted on 08/29/2011 12:14:27 PM PDT by tsowellfan
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To: DonaldC

“It may be a ponzi, but until a better solution presents itself....’

Ask the Chileans about their government retirement system.

I that’s too exotic, talk to the people in Galveston, Texas.


17 posted on 08/29/2011 12:15:27 PM PDT by Stosh
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To: DonaldC
“It may be a ponzi, but until a better solution presents itself....”

Let people keep and invest their own money. Instead of getting a $700/month check from Social Security; the same 40 year amount of contributions would probably give that same person $3,000/month.

We would have a revolution in the streets if people understood this.

18 posted on 08/29/2011 12:15:33 PM PDT by HereInTheHeartland (I love how the FR spellchecker doesn't recognize the word "Obama")
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To: tobyhill

Ultimately, FDR is the worst president this country has ever had. Even if you add the damage done by all the lousy presidents together, (Carter, Obama, Johnson, et al), you don’t get anything close to the damage FDR wrought - he paved the way for them all. Unfortunately, the American voter rewarded his misrule with 4 terms. I have a feeling that these attacks could ultimately sink Perry, given FDR’s status as some kind of American deity.


19 posted on 08/29/2011 12:16:29 PM PDT by Zhang Fei (Let us pray that peace be now restored to the world and that God will preserve it always.)
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To: Tempest
Obama 2nd term confirmed.
I don't know if I would go that far but I certainly don't see this as a winning issue.

It sure didn't help Bush trying to push this after his 2004 re-election.

What's Perry doing here?

20 posted on 08/29/2011 12:17:01 PM PDT by samtheman
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To: tobyhill
"It is a monstrous lie on this generation, and we can't do that to them," Rut-roh. There went Obama's youth vote!
21 posted on 08/29/2011 12:18:01 PM PDT by DRey (Perry/Rubio 2012)
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To: tobyhill

We can demand the SS is put under lock and key as it was originally until LBJ under his “Great Society” gave it to Congress to spend and Algore voted to tax it. Remove the tax and remove Congress’s ability to spend it.


22 posted on 08/29/2011 12:18:01 PM PDT by yoe
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To: DonaldC

Don’t worry, Don. No one is talking about taking existing SS away.


23 posted on 08/29/2011 12:18:56 PM PDT by DRey (Perry/Rubio 2012)
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To: tobyhill
I find it ironic the corrupt bloated government continues to subsidies millions of illegal aliens on the backs of the tax payers, but tells the tax payers their too broke to pay Americans for what they seized from their pay checks over the course of their work histories.

If the corrupt government is broke, and SS is just a ponzi scheme, how are they possibly able to support half of Mexico who are choking off our hospitals, our welfare, schools, health care, and choking off social services.

Americans are not only being gang raped by this lying government, but their being robbed while being gang raped.

24 posted on 08/29/2011 12:19:32 PM PDT by dragnet2 (Diversion and evasion are tools of deceit)
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To: tobyhill
How Three Texas Counties Created Personal Social Security Accounts and Prospered [Page 2]: “Part of the employer contribution in the Alternate Plan goes toward a term life insurance policy, which pays four times the employee’s salary tax free, up to a maximum of $215,000. That’s nearly 850 times Social Security’s death benefit.

More importantly, if a worker participating in Social Security dies before retirement, he loses his contribution (though part of that money might go to surviving children, if any, or a spouse who didn’t work and therefore didn’t establish his or her own benefits). But a worker in the Alternate Plan owns his account, so the entire account belongs to the estate. There is also, among other benefits, a disability benefit that pays immediately upon injury, rather than waiting six months, plus other restrictions, as under Social Security.

And those who retire under the Galveston model do much better than Social Security. For example:……..”

Audio of Perry discussing ethanol and social security at press conference

25 posted on 08/29/2011 12:19:53 PM PDT by Cincinatus' Wife
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To: Tempest

It’s amazing how much different this duplicate thread is from the original one.


26 posted on 08/29/2011 12:20:03 PM PDT by DRey (Perry/Rubio 2012)
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To: HereInTheHeartland

“Instead of getting a $700/month check from Social Security; the same 40 year amount of contributions would probably give that same person $3,000/month.”

Not if we keep getting markets like the last decade; not that the decline in the standard of living in this country affords many folks to put back money in that quantity anyway. Face it folks, privatization is dead. I can see a serious increase in retirement age and the $100k income cap going away and if that don’t do it, the amount paid out will be frozen. Worse case, Pelosi said years ago if nothing was done, half the liability could be paid, and that could be very well what happens.


27 posted on 08/29/2011 12:21:00 PM PDT by DonaldC (A nation cannot stand in the absence of religious principle.)
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To: tobyhill

And therein lies the big question.....

Is he just speaking what we want to hear, or does he mean it (and will he actually do something about it)?


28 posted on 08/29/2011 12:21:42 PM PDT by Lucky9teen (Peace is that brief glorious moment in history when everybody stands around reloading.~Thomas Jeffer)
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To: icanhasbailout

And don’t forget personal responsibility and saving for your own retirement!


29 posted on 08/29/2011 12:21:42 PM PDT by DRey (Perry/Rubio 2012)
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To: tobyhill
Go back to the beginnings of SS. NO ONE was suppose to collect. Our lifespan was lower than 65 back then.

That makes it worse than a ponzi scheme. It makes it highway robbery.

30 posted on 08/29/2011 12:22:33 PM PDT by Sacajaweau
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To: samtheman
What's Perry doing here?

Picking up every single non-black youth voter from 18-50.
31 posted on 08/29/2011 12:23:18 PM PDT by DRey (Perry/Rubio 2012)
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To: samtheman

I see exactly what Perry is doing. Let anyone claim that what he said is not the truth and that Social Security is sound then he will sit there and point out the liar.


32 posted on 08/29/2011 12:25:16 PM PDT by tobyhill (A Democrat that doesn't lie would be a lie)
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To: tsowellfan

i
Michael Reagan also said that Palin is Reagan with a skirt.

Which is it, Michael ?


33 posted on 08/29/2011 12:25:24 PM PDT by A'elian' nation (Political correctness does not legislate tolerance; it only organizes hatred. Jacques Barzun)
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To: tobyhill

I’m not sure why Perry is singling out Social Security and not railing against Medicare/Medicaid. Social Security is fixable, but Medicare and Medicaid will bankrupt the country far faster because there is no way to control costs. Those two are the frauds and the Ponzi schemes.


34 posted on 08/29/2011 12:25:26 PM PDT by SoJoCo
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To: tobyhill

bump.


35 posted on 08/29/2011 12:26:22 PM PDT by ken21 (ruling class dem + rino progressives -- destroying america for 150 years.)
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To: Lucky9teen

Lucky, look at his record in Texas. Look at him poking his finger in reporters’ chests. Read his book. He says what he means, and means what he says. And sometimes, oftentimes, the Earth shakes below him. And it is good.


36 posted on 08/29/2011 12:26:26 PM PDT by DRey (Perry/Rubio 2012)
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To: tobyhill
Rick Perry continued his attack on Social Securitycalling it a "Ponzi scheme" and a "monstrous lie" to younger Americans who should not expect to get back their contributions upon retirement.

Speaking of monstrous lies.

Did Mr. Perry, tell the younger generation your government and Wall Street were bailed out to the tune of trillions by the tax payers, all while forcing Americans to pay for and subsidize tens of millions for illegal aliens, who work cheap while big biz bankrolls their political campaigns?

37 posted on 08/29/2011 12:26:35 PM PDT by dragnet2 (Diversion and evasion are tools of deceit)
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To: Kozak

SS is not a solution, it’s a problem.


Nope. SS worked until we exported jobs. SS was designed for the working generation of Americans to support their parent’s generation. Mayor Bloomberg said there used to be 20 people supporting the retired person. Well there still are. Now only 3 are in this country and the rest are elsewhere. Those working elsewhere do not contribute to SS nor does their employers.

The answer is to place a SS tax on imported goods and the system will be restored to what it once was.


38 posted on 08/29/2011 12:27:27 PM PDT by ex-snook ("Above all things, truth beareth away the victory")
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To: DRey; tobyhill

Don’t get me wrong. I agree with what Perry is saying. It’s totally and obviously true.

But it doesn’t seem to me that the 2012 election is the place to fight that battle.

I’m not sure he’s picking up “every single non-black youth voter from 18-50”.

I would love to think that he is but I can’t help thinking of how poorly this issue played out for Bush in 2005.


39 posted on 08/29/2011 12:28:55 PM PDT by samtheman
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To: DonaldC

“It may be a ponzi, but until a better solution presents itself....”

Seriously? Or is this sarcastic?

You want to participate in a Ponzi scheme until something better comes along?


40 posted on 08/29/2011 12:29:41 PM PDT by Persevero (Homeschooling for Excellence since 1992)
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To: tobyhill
I agree with Perry's point 100%, but this was a tactical mistake.

You don't make Social Security a campaign issue. It should be jobs, jobs, jobs.

41 posted on 08/29/2011 12:29:52 PM PDT by comebacknewt (Sheesh. Go away and stay away Newt.)
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To: DonaldC

Obviously, Perry is not proposing taking away Social Security for anyone.

He does, however, need to clarify his full position, and ideas on how to keep it solvent and transition to a better plan for those of us under 40 to 50 years old.


42 posted on 08/29/2011 12:30:31 PM PDT by RockinRight (The ObamAA+ Downgrade)
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To: samtheman
Bush didn't mean it.

Perry's statement was jarring, no doubt. But he didn't get where he is after 22 years in politics by saying things he should not have said. The media will say otherwise, but it's just not true. I knows what he's doing.
43 posted on 08/29/2011 12:30:43 PM PDT by DRey (Perry/Rubio 2012)
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To: SoJoCo

That would be the next “controversy”.


44 posted on 08/29/2011 12:31:08 PM PDT by tobyhill (A Democrat that doesn't lie would be a lie)
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To: DonaldC
“not that the decline in the standard of living in this country affords many folks to put back money in that quantity anyway.”

It's already being taken from their paychecks.

45 posted on 08/29/2011 12:31:13 PM PDT by HereInTheHeartland (I love how the FR spellchecker doesn't recognize the word "Obama")
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To: DRey

txrangerette to DRey
Perry to be on radio with Hannity at the top of the next hour...just announced on air.


46 posted on 08/29/2011 12:31:59 PM PDT by DRey (Perry/Rubio 2012)
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To: HereInTheHeartland

I figured much more conservative returns and still came up with about a 25% increase over current payouts on SS.


47 posted on 08/29/2011 12:31:59 PM PDT by RockinRight (The ObamAA+ Downgrade)
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To: samtheman
How is it possible the corrupt bloated government continues to subsidies tens of millions of illegal aliens on the backs of the tax payers, but tells the tax payers their too broke to pay Americans for what they seized from their pay checks over the course of their work histories??
48 posted on 08/29/2011 12:32:10 PM PDT by dragnet2 (Diversion and evasion are tools of deceit)
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To: DRey; tobyhill; Kozak; Hugin; Steel Wolf; Stosh; Graewoulf; HereInTheHeartland

Good thread over here heated up with freepers comments:

I Earned These Entitlements

Redding Record Searchlight ^ | August 29, 2011 | John Cleckner

Posted on Monday, August 29, 2011 9:22:55 AM by Poundstone

I earned these ‘entitlements’

http://www.freerepublic.com/focus/f-news/2770354/posts


49 posted on 08/29/2011 12:32:26 PM PDT by KeyLargo
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To: A'elian' nation
Which is it, Michael ?

I think "the most" reaganesque would be the two key words Michael Reagan used. He did not say (nor did I post) that Perry was the only reaganesque candidate in the group.

50 posted on 08/29/2011 12:32:32 PM PDT by tsowellfan
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