Posted on 09/09/2011 8:11:32 AM PDT by shield
According to the commentariat, Governor Rick Perry has stepped into a pile of electoral cow manure. Perry had the unrivaled gall to tell the truth about Social Security — that the program is, by design, a Ponzi scheme. As President Eloquent might say, the talking heads are “all wee-weed up.”
Personally, I’d like to give Rick Perry a medal for courage and a laurel wreath for leadership. He has signaled his intention to speak truth boldly in terms real people can understand.
Of course, Social Security is essentially a Ponzi scheme, fully dependent upon adequate numbers of new “investors” (workers) to pay off prior “investors” (retirees). But this week, Reason delineated three major Social Security facts that make it far worse than a Ponzi scheme, and audaciously added that Rick Perry was “soft-pedaling” his rhetoric on the subject. From Reason:
One, a Ponzi scheme collects money from new investors and uses it to pay previous investors — minus a fee. But Social Security collects money from new investors, uses some of it to pay previous investors, and spends the surplus on programs for politically favored groups — minus the cost of supporting a massive bureaucracy. Over the years, trillions of dollars have been spent on these groups and bureaucrats.
Two, participation in Ponzi schemes is voluntary. Not so with Social Security. The government automatically withholds payroll taxes and “invests” them for you.
Three: When a Ponzi scheme can’t con new investors in sufficient numbers to pay the previous investors, it collapses. But when Social Security runs low on investors — also called poor working stiffs — it raises taxes.
(Excerpt) Read more at pajamasmedia.com ...
Behave yourself, please.
I agree with you that it IS a Ponzi scheme. Read my post #38. I was responding to RC (I think) and asking he/she was joking.
Bush ran away from fixing SS...no one else in our array of GOP candidates will touch it. Only Perry has the gumption to face it down.
Whatever, believe what you want. Social Security is a ponzi scheme type fraud and calling people names will probably not change the reality of that.
Thanks for your response.
I still have not ordered the FED Up book. I am anxiously awaiting my husband’s next paycheck! LOL
I do understand Perry has ideas for this. I was just hoping he would provide the general public a glimpse of that model as he heightens the general public’s interest.
But then, I’m not familiar with campaign strategies either - what works, what doesn’t, etc. LOL
Which brings me to this....
I need to make an official announcement! I was thinking about this anyway, and I feel Perry’s respect for the Chilean model as a great example of what could be done with Social Security is a confirmation I need to make my change over to Perry / CAIN!
It was Perry for P all along for me, but my FR tag goes from Perry/Rubio to Perry/Cain to Perry/Santorum, and sometimes that tag had all THREE!
Now, it’s going to be a Perry / Cain wish list for me, dear friend! :)
Here’s why: If Social Security will be a big issue for our next few years, and Rick Perry likes the Chilean model, and I heard Herman Cain speak of the Chilean model in this last debate, then I’m in for Cain!
Herman Cain would add a lot of depth and compliment Rick Perry in SO many other ways too!
OK, I’ve done it! I have changed my tag to Perry / Cain 2012!
Not exactly so. Those who engineered it knew the initial tax rates and demographic picture weren't sustainable.
They got an unexpected reprieve with the baby boom, but we've still had 23 Social Security tax increases since it's inception.
If anyone is interested (since I just mentioned Cain as a great VP pick for Rick Perry),
Rick Perry and Herman Cain lead in “Positive Intensity Polls” among the GOP.
Excellent info and analysis at the link below.
http://www.gallup.com/poll/149252/Perry-Cain-Widen-Lead-Positive-Intensity-GOP-Field.aspx
Let's leave aside the legal definition of a Ponzi scheme and address the common definition, which is a scheme in which an investor does not receive returns on the money he invested by virtue of the investment increasing in value, but by taking the contributions of new investors and giving it to earlier investors. That types of scheme can only exist as long as there are sufficient new investors into the scheme to continue paying the previous investors. Once that ceases to be true, the system collapses. Now, doesn't that sound exactly like Social Security?
We are at the point now where we are paying existing retirees with current receipts plus borrowing. That can only continue for so long before we either have to reduce benefits, increase taxes or print money.
I don’t know where you live...but your local library most likely has it...don’t wait go check it out from your library.
I know I noticed that after I posted it and when back and posted back to the FReeper who’d posted it. Sorry.
I’ll be very interested to see any new polls about the GOP candidates taken after the debate.
You need to understand it isn’t the Chilean Model for Perry as much it is the 3 Texas counties who adopted a similar model as the Chilean model. IF I remember correctly they did this before or around the same time as Chile did this. This is what Perry uses exclusively...the 3 Texas counties with their success.
Look up the definition of Ponzo Scheme.
Tell me other than the fact that you are forced to pay into it and that the government can print money; what’s the difference between a Ponzi Scheme and Social Security?
As for the debate itself, Perry won flat out. It was The Rick Perry Show, also featuring Mitt Romney as a polished articulate wonk. Rick Santorum wore a pink tie, Ron Paul conformed to his crazy uncle in the attic role, Gingrich pontificated as the elder statesman-advisor he's morphing into, Bachmann was a wallflower, Huntsman an idiot Warmist, and Herman Cain had a great proposal that the audience cheered:
"I propose my 9-9-9 plan: a straight 9% corporate tax, 9% personal income tax, and 9% federal sales tax. If 10% is good enough for God, 9% is good enough for the federal government."
Perry came off immensely real and likeable. His energy and personality dominated. He didn't back down, he double-downed on Social Security being a Ponzi scheme, "a monstrous lie" to young people. He made fun of Warmism, comparing climate realists to Galileo (and thus "consensus science" to geocentrism). And he drove the audience ecstatic with his response to FM propagandist Brian Williams' question over the 234 death row executions under his governorship:
Williams: "Have you struggled to sleep at night with the idea that any one of those might have been innocent?"
Perry: "No sir, I've never struggled with that at all. In the state of Texas, if you come into our state and you kill one of our children, you kill a police officer, you're involved with another crime and you kill one of our citizens, you will face the ultimate justice in the state of Texas, and that is you will be executed."
Williams was scandalized, and especially by the audience cheering. So he asked Perry what he made of it. Perry shrugged, smiled knowingly, and answered: "I think Americans understand justice."
Hey Huck, read post #56...look what Jack Wheeler says about Perry and the debate. He says he flat out is the winner with his articulate explanations. Jack Wheeler is brilliant...and actually understand how Perry works...
Sarah Palin just now on Fox with Megan Kelly explaining why Perry’s stance on SS is a great idea.
It isn’t the whole book. It says ‘this is a preview. Total display of pages will be limited.’
“Sarah Palin just now on Fox with Megan Kelly explaining why Perry’s stance on SS is a great idea.”
The anguished howls of pain if she, in the same speech, annouces that not only is she NOT running, she is backing Perry will be just.....delicious. I so look forward to it.
Of course if she runs (which I doubt) I will give her a fair hearing, compare her (almost non-existent) record to Perrys” of 10 years and I will vote accordingly.
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