Rick Perry says Social Security is a "Ponzi scheme" and a "monstrous lie" (Perry speaks the truth)

cbs ^ | 8/29/2011 | Corbett B. Daly

[barmag25]

[FromTheSidelines]

Wow...

Let’s see. Where is Social Security collected? What is it based on? Let’s start with those two questions. Can you answer them?

[Kozak]

And why did the birth rate fall? It couldn't have anything to do with the 50 million aborted babies, could it?

Partially. A lot of it has to do with things like birth control, delayed marriage and not being a poor rural country anymore. So what? Or are do you think the reason people should have kids is to feed the bottom of the Ponzi scheme as tax slaves? Lots of arguments against abortion, this ain't one of them.

[JudgemAll]

THe minute they will stop, however, watch Zero bring up the k!ke word and black power and the MArxist theme. THese jews are part intimidated, part corrupted by being stuck in a Marxist pyramid scheme of enforcement and part fooled. It’s terrible. They do not see that Israel and Zionism is held against them as another pyramid scheme, calling on it in various forms of messianism. The difference between belief and “science of antisemitism” is going to rear its ugly head as the pyramid is going to crumble on itself.

[In Maryland]

Thanks - yup my numbers were a little off. But your chart just before the one you linked to clearly shows that a person who had reached age 50 had a life expectancy well into their 70's - so your statement that "no one was supposed to collect" is still incorrect.

That it was a Ponzi scheme based on the assumption of ever expanding population will get no argument from me.

Regards

[NVDave]

One more issue which I forgot to mention:

The “IOU’s” the SSA is holding from the Treasury - ie, the Treasury debt which funded deficit spending of monies that were collected to fund SSA accounts - those will need to be redeemed in order to pay out benefits to claimants.

Well, there’s no budget surplus right now - quite the opposite.

So the government has to issue NEW debt to cash out the existing debt held by the SSA to pay claimants.

Clear so far?

That makes the Social Security scheme the only Ponzi scheme I know of where the victims have to pay TWICE. They paid first when they were suckered in, and again when the system should have failed, but was propped up by people who insisted on throwing good money after bad.